BURNABY, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2013) - There is a 20 billion dollar global market for bio-coal and Diacarbon Energy intends to be a part of it, thanks to a $1 million dollar investment from Sustainable Development Technology Canada (SDTC) that was announced today.
The Burnaby, BC-based company, in partnership with Lafarge Canada, Seabird Island First Nations and Jake's Construction will develop a commercial demonstration production facility for its waste biomass to bio-coal process. Bio-coal is mechanically and physically equivalent to coal, but is considered carbon-neutral and is produced using waste feedstock and other waste biomass.
"Our Government is doing its part to encourage innovation and the next wave of clean technologies to help protect our environment and create high-quality jobs," said the Honourable Joe Oliver, Canada's Minister of Natural Resources. "Investment in projects such as these demonstrates our leadership in driving a vibrant clean technology industry in Canada."
"Diacarbon Energy is very pleased to receive this investment of $1 million from SDTC and the Government of Canada", said Jerry Ericsson. This investment will allow us to scale up our biofuel project to provide a technological demonstration for the production of bio-coal using a self-sustaining indirect heating approach. Essentially we are working to convert Canada's waste biomass into clean energy on a larger scale - something that will contribute to a healthier environment and Canadian economy".
The funding announcement is part of the Harper Government's commitment to stimulating innovation and job creation with today's investment of $61.8 million to help 23 new clean technology projects from across the country reach commercialization.
"SDTC is proud to add this project to its portfolio, now valued at more than $2 billion. When purchased and used by Canadian industry, the clean technologies developed by portfolio companies will enable a variety of sectors to increase their share of global markets," said Dr. Vicky Sharpe, President and CEO of SDTC. "As Canada works to diversify its export markets, working with new trading partners in emerging countries, these innovative technologies will help make Canadian natural resources and products more globally attractive and competitive."
Diacarbon Energy's thermal biomass refinery (TBR) is a system that uses a thermo-chemical process to convert biomass into bio-coal, bio-oil, and syngas. Bio-coal yields more energy than the wood pellets commonly used as a coal alternative, making it ideal for heat and power producers which include cement facilities, combined heat and power (CHP) and district heating applications as well as coal-fired power generators.
About Diacarbon Energy Inc.
Diacarbon Energy is an all-Canadian company based in Burnaby, BC, committed to applying practical and realistic technology to provide carbon-neutral and carbon-negative products that benefit the planet. The company's objective is to produce renewable fuels from biomass, and to provide waste solutions for pulp and paper, forest, and agriculture industries. Initially, we will provide a service for biomass waste processing that will enable us to convert various feedstocks into bio-coal and pyrolysis oil for testing in agricultural and industrial applications. As our processing capacity increases with scale-up and further unit installations, we will begin targeting conventional energy customers with our carbon-neutral, renewable bio-coal.
On behalf of the Government of Canada, Sustainable Development Technology Canada helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is positioning cleantech as a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $590 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC works with the private sector, the financial sector and all levels of government to meet the Government of Canada's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation.