EDMONTON – The Alberta government said the province’s carbon levy is driving the industry to renewable energy innovations.
On Thursday morning, Premier Rachel Notley was on hand to announce Edmonton-based SBI BioEnergy had developed technology that reduces greenhouse gas emissions by creating renewable fuel from plant oils. The fuel is virtually indistinguishable from diesel.
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Now, $10 million in carbon tax will be put towards building a $20 million facility to continue the work.
“Investments in companies like this are investments in innovation and they are an important part of our government’s commitment to diversifying our economy,” Notley said.
“This investment is a great example of that commitment because it leverages Alberta’s existing strengths in energy to create a new environmentally friendly fuel.”
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The project will generate 35 jobs in the Edmonton region and have an estimated greenhouse gas emissions reduction of more than 112,000 tonnes by 2020, the province said. It’s the equivalent of removing 23,000 cars from the road for one year.
The SBI facility strengthens Alberta’s expanding industrial bio-product sector and gives farms a new market for off-grade canola, the province said.