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CRIBE investing in Ensyn biofuels plant

April 4, 2014, Renfrew, Ontario – CRIBE is providing an investment of up to $1.5 Million to leverage a total project value of up to $4 Million to enhance Ensyn Technologies’ Renfrew facility by increasing production capacity and making it a first-of-its-kind dedicated biofuels plant.


April 4, 2014
By CRIBE

Topics

April 4, 2014, Renfrew, Ontario – CRIBE is providing an
investment of up to $1.5 Million to leverage a total project value of up to $4
Million to enhance Ensyn Technologies’ Renfrew facility by increasing production
capacity and making it a first-of-its-kind dedicated biofuels plant.

 

By enhancing their existing facility in Renfrew, Ensyn will
have a fast-to-market option for delivery of their petroleum-replacement liquid
biofuel produced from forest residues to heating oil customers in Quebec and
Northeastern United States. 

 

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This investment will secure the 14 existing full time staff
in Renfrew, as well as add 14 full-time positions as the plant is brought up to
full production capacity. Capacity at the facility will be increased from
approximately 3 Million litres to 13 Million litres of RFO annually.

 

Ensyn’s biofuels business is based on the conversion of wood
and other non-food, cellulosic biomass to advanced cellulosic biofuels. Ensyn’s principal product is RFO™, a liquid
biofuel that is a heating fuel and is also a feedstock for refineries for the
production of gasoline and diesel.

 

The US Environmental Protection Agency (EPA) has recently
approved Ensyn’s Renfrew plant as a registered facility under the US Renewable
Fuel Standards (RFS2) program. Ensyn
will now be able to produce cellulosic biofuel that will be eligible for
credits under the program. This has significantly accelerated customer demand
from US clients.

 

The CRIBE funding will support capital investment at Ensyn’s
facility in Renfrew to meet this immediate demand. This targeted capital
investment will address the following:

  •     Enhance and expand
    the feedstock receiving, drying and preparation;
  •     Enhance the RFO
    fuel conditioning process; and
  •     Improve the RFO
    fuel handling capabilities.

 

On March 7th, 2014 Ensyn announced an initial contract for
the supply of RFO from the enhanced production capacity at Renfrew. Ensyn signed a five year contract with
Memorial Hospital of North Conway, New Hampshire for the supply of RFO for
heating purposes, replacing petroleum-based fuels.

 

“Through CRIBE, Ontario is investing in bio-mass research
and innovation not just in Northern Ontario, but throughout the province,” said
Reza Moridi, Minister of Research and Innovation. “Companies like Ensyn
Technologies are leading the way, creating the next generation of renewable fuels,
along with jobs and opportunities that will help ensure Ontario’s future
prosperity."

 

“This project represents a critical step in our biofuels
development process” said David Boulard, President of Ensyn Technologies.
“Although Ensyn has had commercial operations for many years, and while the
Renfrew facility has served us well as a commercial merchant facility for
contract production and business development, Renfrew will be our first
commercial facility dedicated to biofuel production and will allow us to
accelerate the development of market demand. 
We are pleased that CRIBE has elected to help us on this important
project”.  

 

“Ensyn has been a
leader in the development and commercialization of innovative products and
materials derived from wood based fibres through application of its RTP
technology,” said Lorne Morrow, CEO of CRIBE. “This strategic investment by
CRIBE not only supports the future of Ensyn’s Renfrew RTP facility but also
supports wood based forest industries in the area through the increased use of
forest residue at the Renfrew facility”.


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