Innoventé contracts 7.2MW more biofuel power to Hydro-Quebec for 25 years

In Canada, Innoventé Inc announced that it will open a new plant in Matane following the execution of a power supply contract with Hydro-Quebec for a term of 25 years for the production of 7.2MW of electricity. This agreement, the third in its kind for the Corporation, brings the total of contracts to 20.6 MW, over the next 25 years.

The Matane plant will be built in the RockTenn board mill closed for over a year, will employ up to 100 people during the erection period and will create about forty jobs in the operational phase. The power delivery will be provided starting in fall 2015. The conversion project of the facilities, estimated at $20 million, will begin in the upcoming months.

The patented technology of Innoventé involves using biodryers that can transform forest, industrial, agricultural and municipal residues into biofuel. Innoventé uses this biofuel to supply a cogeneration facility. In Matane, it will be built from the existing biomass boilers, built in 2009. This will produce useful electricity and heat, in particular for greenhouse production.

Hydro-Quebec will pay 10.6 cents per kWh, indexed annually, for the power supplied by Innoventé’s plant in Matane. In accordance with the terms of this agreement, the Corporation has issued a letter of credit in the amount of $180,000 as a security deposit

Innoventé owns a first plant in Saint-Patrice-de-Beaurivage whose construction is completed. The Corporation, who is currently completing its test period, just produced its first kilowatt-hour. The second plant will be inaugurated in Trois-Rivières in 2015. Preparatory work has begun.