CIB commits $205 million towards biorefinery and Canada’s largest electrolyzer

In Canada, the Canada Infrastructure Bank (CIB) said it has concluded the financing on its first project from its low-carbon fuels, carbon capture utilization storage and hydrogen initiative with support for a biorefinery and the country’s largest electrolyzer. Under the terms of the agreement, the CIB will provide a loan of $205 million to a joint-venture partnership between Shell, Suncor, Proman and the government of Québec that will enable construction of Canada’s largest biorefinery, based on a technology platform developed by Enerkem. The $887 million facility – known as Varennes Carbon Recycling – will include an electrolyzer which will supply clean hydrogen and oxygen to convert more than 200,000 tons of non-recyclable waste and residual biomass into biofuels with a capacity of up to 130 million liters annually. The project will be using Enerkem’s proprietary thermochemical process. The carbon recycling facility is expected to cut more than 170,000 tons of greenhouse gas emissions annually and 4.25 million tons over the project’s 25-year lifespan.

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