Today, the Government of Canada announced that Canfor Pulp has been approved for up to $13.2 million dollars of funding from Sustainable Development Technology Canada (SDTC), which supports the development and deployment of clean technology in Canada.
More specifically, this grant will support Canfor Pulp’s proposed biocrude project underway through its joint venture with Licella Fibre Fuels of Australia. The SDTC will allocate the grant in portions as project milestones are achieved.
Canfor Pulp’s joint venture with Licella was established in May 2016 to investigate whether Licella’s technology can economically convert pulp biomass into a renewable biocrude. This agreement follows a successful program of preliminary trials conducted where wood residue streams from Canfor Pulp’s kraft process were successfully converted into a stable biocrude oil.
When the project proves to be economically successful on a larger scale, the biocrude oil can then be refined in a conventional refinery and easily be upgraded to gasoline, diesel, kerosene and fuel oil blend stocks.
We are very grateful to SDTC and the Government of Canada for their interest and financial support. We are excited about the potential of our biocrude project, its impact on clean technology and its role in promoting environmental sustainability.