Canada Economic Development

Canada Economic Development

April 19, 2010 11:00 ET

Boralex Receives $3 Million in Funding From Government of Canada to Harness the Potential of Biomass at its Senneterre Factory

SENNETERRE, QUEBEC--(Marketwire - April 19, 2010) - The Honourable Denis Lebel, Minister of State for Canada Economic Development, today announced the awarding of $3 million in repayable funding to Boralex for the acquisition of equipment that will enable the firm to harness and develop the potential of biomass at its Senneterre plant.

The Community Adjustment Fund established under the Government of Canada's economic action plan provides for the funding of major growth-generating initiatives like the one proposed by Boralex. Indeed, the company's project involves the reclamation and re-use of tree bark from former dump sites for the production of thermal energy.

"It is thanks to companies like Boralex, an enterprise operating in the highly-promising forest biomass sector, that the Abitibi-Témiscamingue region is enjoying a stronger economy. I am proud that Canada Economic Development is lending its financial support to this wood waste development project and thereby furthering the economic diversification of the region. This organic material offers considerable development potential and market opportunities in the area of energy production," explained the Minister of State.

This Boralex project will result in the maintenance of the 24 existing permanent positions at the Senneterre plant as well as the creation of an additional 140 subcontracting jobs, 100 of them during the equipment installation phase and the other 40 for the eventual transportation of the biomass.

Forest product transformation and development are promising growth sectors for Abitibi-Témiscamingue, as are tourism, mining and agri-food processing. It is therefore in these priority areas that Canada Economic Development has decided to focus its development efforts in the region.

For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

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