Canada’s Ocean Supercluster announces $65M Clean Ocean Advanced Biofuels Project
February 15, 2022 By Canada's Ocean Supercluster
Canada’s Ocean Supercluster recently announced its largest project to date, the $65 million Clean Ocean Advanced Biofuels Project. In the project, Ontario-based Valent will work with a pan-Canadian team to produce Canada’s first renewable diesel from abundantly available agricultural and forestry by-products.
A major ocean industry challenge is the need for a range of environmentally sustainable, low greenhouse gas (GHG) emission, and low-sulphur marine fuels available to end-users at a competitive cost that are compliant with current and future fuel regulations. The Clean Ocean Advanced Biofuels project will address these challenges by introducing a low carbon biofuel across the marine ecosystem.
For the development of the Clean Ocean Advanced Biofuels Project, Valent Low Carbon Technologies will work with partners FORGE Hydrocarbons, Mara Renewables, Clearwater, Katal Energy, Horizon Maritime, and Sustainable Development Technology Canada to produce fuel and solvents to be used in industry and a hydrocarbon material with improved nutritional value for human health products. With a total value of $65 million dollars, the Ocean Supercluster will provide nearly $5.7 million with the balance coming from the project’s industry and government partners.
The success of the Clean Ocean Advanced Biofuels Project will drive Canadian renewable diesel production and supply, reduce imports, and foster international market exports. The Clean Ocean Advanced Biofuels Project will also boost job creation across Canada creating more than 150 direct jobs.
The cumulative emission reductions from Valent’s suite of technologies will positively impact local marine life and air quality, supporting Canada’s transition to a more sustainable future.
“The sustainable development of our ocean economy is one of the most important opportunities of our time. The $65M Clean Ocean Advanced Biofuels project is not only our largest project to date but the collaboration of its pan-Canadian partners is a testament to what we can achieve when we work together. This transformational project will help shape Canada’s future as a leader in low-carbon fuel production,” said Kendra MacDonald, CEO, Canada’s Ocean Supercluster.
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