Suncor (SU) receives $25M for Ethanol Plant

Posted by Tate Dwinnell | # |
12:03:31 am on July 22, 2008

The Canadian government has agreed to give Suncor Energy’s (SU) St. Clair Ethanol Plant a $25 million investment to double its current production according to sustainablebusiness.com.  The plant should be completed by the end of 2009 and has received equity investment from farmers totaling $12.5 million. 

 

This will be the fourth biofuel plant funded under Canada’s ecoABC initiative.  "The Government of Canada is investing a total of $2.2 billion over nine years toward the goal of reaching an average of 5% renewable content based on the gasoline pool by 2010 and 2% renewable content in diesel fuel and heating oil by 2012 and advancing next generation biofuel technologies."

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