Canada Infrastructure Bank loans Varennes Carbon Recycling $202M
March 27, 2023
| Meghan Sapp
Under the terms of the agreement, the CIB will provide a loan of C$277 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 C$1.2 billion facility – known as Varennes Carbon Recycling – will include an electrolyzer which will supply clean hydrogen and oxygen to convert more than 200,000 tonnes of non-recyclable waste and residual biomass into biofuels with a capacity of up to 130 million litres annually.
The project is expected to create more than 500 jobs at the peak of construction and about 100 permanent jobs once operational.
Category: Fuels