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Government of Canada announces investment in the industrial bioeconomy to reduce GHG emissions

CNW Group
·3 min read

SARNIA, ON, Aug. 19, 2024 /CNW/ - Strengthening Canada's bioindustrial sector through research and innovation creates opportunities, increases competitiveness, and moves Canada towards a more sustainable future.

Today, Peter Fragiskatos, Member of Parliament for London North Centre, on behalf of the Honorable Lawrence MacAulay, Minister of Agriculture and Agri-Food, announced up to $6,592,913 to Bioindustrial Innovation Canada (BIC) through the AgriScience Program – Clusters Component, an initiative under the Sustainable Canadian Agricultural Partnership.

The Bioproducts Cluster, led by BIC, will develop specialized technologies that turn renewable resources, such as agricultural residues, into useful bioenergy, biofuels, and biomaterials like ethanol and biodegradable plastics. The research activities aim to support the transition to a renewables-based economy and reduce greenhouse gas emissions (GHGs). This will be achieved by improving biomass production, developing new bioproducts from Canadian crops, and turning by-products into value-added bioproducts.

Quotes

"The Bioproducts Cluster, led by Bioindustrial Innovation Canada, is helping us find green solutions that make the most of our resources. This funding will provide new opportunities for our farmers to profit from agricultural by-products that would otherwise go to waste. It's a win for farmers and a step toward a more sustainable future for all Canadians."
-        The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food

"This funding underscores our commitment to advancing technologies that will reduce greenhouse gas emissions and increase the value of Canadian agricultural products. Together, we are strengthening our agricultural sector and building a greener future."
-        Peter Fragiskatos, Member of Parliament, London North Centre

"BIC is pleased to receive support from AAFC to continue to support the development of emerging technologies that provide benefit to Canada and Canadian farmers. Canada's agriculture sector represents significant opportunities for development and commercialization of bioproducts through green chemistry. Integrating agricultural feedstocks and downstream bioproducts into a variety of industry value chains will not only increase Canada's agriculture opportunity but support industrial decarbonization. The Cluster supports project activities that focus on biochemicals, biomaterials, biofuels and energy, as well as novel agricultural tools and practices that will assist in providing sustainable feedstocks and co-products into these applications. These technologies provide added and alternative value opportunities to the sector, complement existing traditional value chains, and support industrial decarbonization, lowering the overall carbon intensity of all sectors involved."
-        Meaghan Seagrave, Executive Director, Bioindustrial Innovation Canada

Quick facts

  • In 2015, the total amount of biomass provided to Canadian industrial bioproducts producers was about 22 million metric tonnes with about 43% coming from the agricultural sector.

  • The revenue from Canadian industrial bioproducts in 2015 was estimated at $4.27 billion. By 2030, the global bioeconomy is projected to reach $10.5 trillion CAD annually, with Canada's estimated share up to $240 billion CAD.

  • The bioeconomy refers to using renewable biological resources to produce food, goods, and energy in a sustainable way to drive economic growth.

  • BIC previously received $5.5 million in funding through the Growing Forward 2 framework and another $11.2 million through the Canadian Agricultural Partnership framework.

  • The AgriScience Program, under the Sustainable Canadian Agricultural Partnership, aims to accelerate innovation by providing funding and support for pre-commercial science activities and research that benefits the agriculture and agri-food sector, and Canadians.

  • The Clusters Component, under the AgriScience Program, supports projects intended to mobilize industry, government and academia through partnerships and address priority national themes and horizontal issues.

  • Bioindustrial Innovation Canada is a nationally focused not-for-profit business accelerator that provides critical strategic investment, advice, and services to business developers of clean, green, and sustainable technologies.

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Web: Agriculture and Agri-Food Canada

SOURCE Agriculture and Agri-Food Canada

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View original content: http://www.newswire.ca/en/releases/archive/August2024/19/c0194.html