Ontario Creates $520M Fund for Ethanol
17 June 2005
The government of Ontario, Canada, is establishing a Can. $520-million (US$421-million), 12-year fund to support ethanol production and retailing.
In November 2004, Ontario announced a Renewable Fuels Standard, requiring an average of five per cent ethanol in all gasoline sold in Ontario by January 1, 2007.
The Ontario Ethanol Growth Fund, announced today, provides:
Capital assistance to help meet financial challenges in plant construction.
Operating assistance to address changing market prices.
Support for independent retailers selling ethanol blends.
A research and development fund to pursue opportunities for research and innovation.
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