LONDON, ONT. -- Two rural organizations in southwestern Ontario are helping those looking for alternatives to petroleum-based fuels.
London West MP Kate Young announced Wednesday an investment of $10 million from FedDev Ontario to support the growth of two renewable fuel producers in the region.
Forge Hydrocarbons and IGPC Ethanol Inc. support the region's economy and supply chain by creating renewable and clean energy alternatives while creating jobs in rural communities.
"These two projects build on our region’s reputation as a strong contributor to innovation in the petrochemical sector. As the world continues to seek cleaner, cost-effective biochemical products, innovative solutions like FORGE’s Lipid to Hydrocarbon technology and IGPC Ethanol Inc.’s corn-based ethanol production methods are continuing to build on the region’s strength as a player in energy production, using cleantech, all while creating jobs in rural southwestern Ontario," Young said in a statement.
Kevin Norton, CEO-COO of IGPC Ethanol Inc. added, "With our newly expanded production capacity, IGPC Ethanol Inc. contributes significantly to the renewable energy industry and agricultural sectors in Ontario, producing 380 million litres per year of high-octane fuel grade ethanol and 340,000 tonnes of high-protein distillers’ grains from 36 million bushels of Ontario corn."
And Tim Haig, CEO of FORGE Hydrocarbons, said the investment, "not only adds to the validation received to date for the LTH technology, but also provides a necessary monetary boost to FORGE’s commercialization pathway as we begin to build our facility in and add skilled jobs to the Ontario renewable energy sector."
As the global biodiesel market is expected to grow from $25 billion in 2019 to $44 billion by 2025, FedDev Ontario has invested over $123 million in 60 clean technology projects since 2015.
