NRC invests $31 milion in Alberta biodiesel

Jim Hillyer, MP for Lethbridge,
on behalf of the Honourable Joe Oliver, Minister of Natural Resources,
announced an investment of up to $31.14 million, over six years, in
Kyoto Fuels Corporation through the ecoENERGY for Biofuels program.

“Our Government is working to advance clean energy solutions and
reduce greenhouse gas emissions through our ecoENERGY for Biofuels
program,” said MP Hillyer. “By investing in projects like this, we are
helping to sustain local jobs and create economic opportunities while
maintaining a healthier environment for all Canadians.”

Kyoto Fuels Corporation, located in Lethbridge, Alberta, will produce
up to 66 million litres of biodiesel a year. The project consists of
converting vegetable or cooking oil or animal fat into biodiesel. The
company intends to sell the product to diesel producers in Western
Canada and the northwestern United States. The reduction of greenhouse
gas emissions from biodiesel can be as much as 80 percent over regular
diesel.

 “Kyoto Fuels looks forward to providing quality renewable fuels
through the ecoENERGY for Biofuels program, which represents a vital
aspect of our ability to participate in this evolving sector of Canada’s
economy,” said Kelsey Prenevost, President and Chief Executive Officer,
Kyoto Fuels Corporation. “In addition to employing 20 well-qualified
technicians, other industries such as transportation and distribution
will benefit from our production.”

The Government of Canada is investing up to $1.5 billion through the
ecoENERGY for Biofuels program over nine years and recognizes that the
increased use of biofuels contributes to reducing Canada’s greenhouse
gas emissions as well as creating clean energy jobs for today and in the
future.

Regulations now require a five percent renewable fuel content based
on the national gasoline pool and a two percent requirement for
renewable content in diesel fuel and heating oil.