News Release
For Immediate Release
December 15, 2008
BUILDING A GREEN ECONOMY IN NORTHERN ONTARIO
McGuinty Government Supports Bioproducts Innovation Centre
A biorefinery that would act as a “test-bed” for developing environmental technologies and clean alternatives to fossil fuels will be the centrepiece of a new bio-economy research centre in Thunder Bay according to a report released today.
The report from the seven member task force – outlines the province’s vision for the Centre for Research and Innovation in the Bio-Economy (CRIBE).
CRIBE will focus on commercializing new bioproducts, such as eco-friendly fuels, composites and chemicals, and replacing products and services which have traditionally relied on fossil fuels that contribute to climate change.
Supporting innovation is part of the McGuinty government’s five-point plan for growing Ontario’s economy.
QUOTES
“Innovation is the key to growing our existing businesses faster, and turning the rising global demand for renewable carbon-based fuels into new jobs, new industries and new investment for Ontario,” said Minister of Research and Innovation John Wilkinson.
“Investing in research and innovation will strengthen and diversify our resource-based economy and help ensure Ontario’s abundant forest resources continue to provide a sustainable future for our forest industry and the communities that depend on it,” said Thunder Bay-Atikokan MPP Bill Mauro.
“Ontario’s investment in CRIBE demonstrates that our government is responding to the challenges facing our province and our resource sector in the 21st century. By supporting innovation, we can drive new job creation and prosperity,” said Minister of Northern Development and Mines Michael Gravelle.
QUICK FACTS
- The global renewable and bioproducts industry is expected to exceed $125 billion in revenues by the year 2010.
- Forest bioproducts contribute an estimated $1 billion to Canada’s economy.
- Ontario produces close to 50 million tons of biomass a year, which has the potential to produce enough energy to meet the needs of seven million Ontario homes.
- CRIBE will position Thunder Bay as a global leader in the bio-economy by combining the strength of Ontario’s 27 million green cubic meters of forests with the province’s world-class R&D capacity.
- Ontario announced a $25-million investment in CRIBE back in May.
LEARN MORE
- About other ways Ontario is helping people turn good ideas into innovative, globally competitive businesses, including the Innovation Demonstration Fund, the Ontario BioAuto Council and the Next Generation of Jobs Fund.
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