N.S. biofuel project secures government loan

March 20, 2014, Brooklyn, N.S. – CelluFuel Inc. has secured
a $500,000 loan from the federal government for its demonstration plant project
on the former Bowater site in Brooklyn, N.S.

According to a report in The Chronicle-Herald, the funding
is in addition to a $1.5 million contribution that the province previously gave
for the project. The newest funding will be used to purchase equipment for the
demonstration plant.

Once the project is completed, CelluFuel expects to provide
1.3 million litres per year of renewable diesel for the refinery market using
approximately 6,000 tonnes of fibre.

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