Twitter headlines« Canadian Project to Field Test New Syngas-Based Diesel Emission Reduction System | Main | Petrobras and Mitsui to Form Bioenergy Joint Venture in Brazil »
Iogen Commercial-Scale Cellulosic Ethanol Plant Moves Closer to Canadian Funding
15 March 2008
Iogen Corporation’s application for funding for Canada’s first commercial-scale cellulosic ethanol production facility has progressed to the due diligence phase.
The application, which was submitted to Sustainable Development Technology Canada (SDTC) under the recently launched C$500 million NextGen Biofuels Fund, is for a cellulosic ethanol biorefinery to be built in Saskatchewan. The application has now entered the due diligence process. After this process, SDTC will make a final decision on funding.
Today’s announcement brings us one step closer to making cellulosic ethanol a commercial reality.
— Brian Foody, Iogen President
The NextGen Biofuels Fund will support up to 40% of eligible project costs for the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels. The contribution is repayable based on free cash flow over a period of 10 years after project completion. The funding process for the NextGen Biofuels FundT uses a classic Project Assurance Process approach based on international best practices in deciding whether to undertake the development of large-scale, capital intensive, or high capital expenditure, projects.
Iogen and its partners Shell and Goldman Sachs are developing a unique process that uses specialized enzymes to convert plant fiber into sugars that are then fermented and distilled to make cellulosic ethanol.
The NextGen Biofuels Fund was announced by the Government of Canada in Budget 2007 and launched by SDTC on September 12, 2007. It is open for applications at any time.
March 15, 2008 in Brief | Permalink | Comments (3) | TrackBack (0)
Comments
Posted by: sjc | March 15, 2008 at 08:27 AM
I like the idea of the Sustainable Technology Fund. Cellulosic fuel development and production is definately covered and so would various biofuels and energy sources.
The SDTC is funded by general Canadian Fed Taxes (or supluses). It would be fair to have gas guzzlers users + Tar sands operation + other heavy polluters contribute to increase this fund by 10X or more in order to fund other sustainable projects such as on-board batteries + PHEVs + BEVs + solar + wind power etc.
Posted by: Harvey D | March 15, 2008 at 11:47 AM
The Republicans in the U.S. would call that "picking winners and losers" and that is a no-no in their book, or at least they pretend that is close to sinful immorality in economics. Give them good old "hands off" free markets and let that invisible hand do its magic...give em that old time religion.
Posted by: sjc | March 17, 2008 at 01:12 PM
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef00e551215e4c8833
Listed below are links to weblogs that reference Iogen Commercial-Scale Cellulosic Ethanol Plant Moves Closer to Canadian Funding:
I can recall Ballard and the funding for fuel cells. If the private sector can not or will not fund something in the public good then the people should consider doing so. It may not work out, but it is worth doing anyway. In the case of Ballard, it was too little too early and not enough later on.
On the one hand you have tar sands, massively privately funded and publicly agreed to by politicians. On the other hand you have a renewable technology that can be good for everyone that goes underfunded.
Now let's see, which one would we and should we chose, assuming we have to make a zero sum trade off? Since we do not, the private can fund tar sand and the public can fund bio fuels. In the U.S. the politicians would just be bought off with campaign contributions and it would be no contest.