BACKGROUNDER
April 9, 2010
Support For Emerging Clean Energy Companies
The province is investing $4 million through the Innovation Demonstration Fund in Woodland Biofuels Inc., a Mississauga-based company. The goal of the Fund is to help innovative companies commercialize promising new clean technologies by supporting them at the pilot or demonstration project stage. This enables them to attract the customers and investors they need to move their technology to the global marketplace.
This investment will help Woodland build its pilot plant at the Bioindustrial Innovation Centre located at The University of Western Ontario’s Sarnia-Lambton Research Park. The plant will demonstrate Woodland’s technology that could transform Ontario’s forestry, industrial, agricultural and municipal waste into ethanol that can be blended with gasoline to produce a fuel which has significant environmental and economic advantages. Woodland is partnering with Zeton Inc. for the engineering and construction of the pilot plant.
These advantages include:
- Turning waste material into value-added products.
- Contributing to regional economic growth and job creation, particularly in rural communities.
- Reducing greenhouse gas emissions.
THE INNOVATION DEMONSTRATION FUND
Ontario has committed $80 million over four years to enhance the Innovation Demonstration Fund.
To date, Ontario has invested in 15 promising Ontario cleantech companies through the Innovation Demonstration Fund.
ONTARIO’S INNOVATION AGENDA
Supporting innovation, such as Woodland’s clean technology, is part of the McGuinty government’s Open Ontario Plan to create an Ontario that is even more open to new ideas, new people, new investment and new jobs.
Ontario’s Innovation Agenda supports this plan and is Ontario’s map to transform great ideas into new jobs for Ontario families. It builds on this province’s greatest strength: the talent and ingenuity of our people.
Backed by $3.2-billion in spending over eight years, the Agenda focuses on supporting innovation and growth in sectors where Ontario has the research and business strengths to dominate high-growth global markets.
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