Canadian Clean Fuels Fund Invests in Generate Upcycle Digester Project
The Canadian federal government has ramped up its support for biofuels in recent years as it works to create jobs and support economic development tied to its climate regulations. In the country’s 2021 budget, it earmarked 1.5 billion Canadian dollars over five years to establish the Clean Fuels Fund, which would provide financing for projects across development stages at multiple points in the supply chain.
The London digester’s public financing comes as a four-year loan backed by Natural Resources Canada which Generate Upcycle must begin paying back once it begins generating a profit. Generate Upcycle is covering the rest of the bill for the expansion with its own funds.