Canada Invests in Alberta Province Biodiesel Project
June 20, 2009 // Published as a news service by IHS
The government of Canada invested $19.9 million over seven years toward the province of Alberta's Western Biodiesel Inc. facility in High River to support biofuels development.
Compared to gasoline, grain-based ethanol can reduce greenhouse gas (GHG) emissions by up to 40% on a life cycle basis, according to Natural Resources Canada (NRCan). For biodiesel, the emissions reduction can be as much as 60%.
Through the ecoENERGY for Biofuels program, Canada will invest up to $1.5 billion over nine years to encourage the development of a renewable fuels industry in Canada.
Canada is also reducing emissions and creating new economic opportunities through investments such as the five-year, $1-billion Clean Energy Fund and the $1-billion Green Infrastructure Fund, according to NRCan.
These initiatives are part of the government's economic action plan and are touted as providing additional economic stimulus while accelerating progress toward a "cleaner, more sustainable" energy future for Canadians, said NRCan experts.
Source: Natural Resources Canada (NRCan).