CRIBE invests $1.5 million in Ensyn's biofuels plant

CRIBE is delivering an investment of up to $1.5 million (€1 million) to Ensyn Technologies to expand their Renfrew facility.

Ensyn intends to dedicate the facility's use to biofuels and increase its production capacity.

By enhancing their existing facility in Renfrew, Ensyn will be able to deliver their petroleum-replacement liquid biofuel produced from forest residues to heating oil customers in Quebec and Northeastern United States, more efficiently.

The company is contributing towards the project, which will cost as much as $4 million and increase capacity at the facility from about 3 million litres to 13 million litres of RFO per year.

The US Environmental Protection Agency (EPA) has recently registered Ensyn's Renfrew plant under the US Renewable Fuel Standards (RFS2) programme. This allows Ensyn to produce cellulosic biofuel that is eligible for credits and as a result has considerably accelerated US clients' interest.

On March 7, Ensyn announced an initial contract for RFO supply from Renfrew's plant. Ensyn signed a five year contract with Memorial Hospital of North Conway, New Hampshire for the supply of RFO for heating purposes, replacing petroleum-based fuels.

David Boulard, President of Ensyn Technologies, says: 'This project represents a critical step in our biofuels development process. Renfrew will be our first commercial facility dedicated to biofuel production and will allow us to accelerate the development of market demand.'

'This strategic investment by CRIBE not only supports the future of Ensyn's Renfrew RTP facility but also supports wood based forest industries in the area through the increased use of forest residue at the Renfrew facility,' adds Lorne Morrow, CEO of CRIBE.