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Integrated Grain Processors Cooperative’s Aylmer, Ontario, ethanol facility will receive up to $84.76 million over seven years to support the development of biofuels in Canada.
The facility, which began operation this past October and reached full capacity in December, produces 150 MMly of ethanol from 3.5 million bushels of corn per year. The facility marks the largest start-up co-op venture ever attempted in Canada.
The funding falls under the ecoENERGY for Biofuels program, a $1.5 billion initiative aimed at boosting Canada’s production of renewable fuels.
“The funding received from Natural Resources Canada will help ensure that IGPC remains part of the economic foundation of this community,” said Jim Grey, from IGPC. “The Government of Canada should be proud of their contribution to the largest start-up co-operative in Canadian history. Our 850 farmer and community members sincerely appreciate the federal government’s confidence in our locally-owned biofuels venture."
The funding will also help create local jobs and economic opportunities, said Joe Preston, Member of Parliament for Elgin-Middlesex-London.
The ecoENERGY for Biofuels program has received 49 applications since its establishment in April 2008 and has deemed 24 of those applications eligible for funding. IGPC joins Permolex Ltd. and GreenField Ethanol as recent ecoENERGY for Biofuels recipients. In January, Permolex received $23.2 million in funding for its 40 MMly ethanol and grain fractionation facility in Red Deer, Alberta. In April, GreenField received $72.8 million for its 100 MMly ethanol facility in Chatham, Ontario. A previous $14 million was also announced for GreenField’s 3.5 MMly facility in Tiverton, Ontario.