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Husky Energy gets ethanol investment

Canada-based Husky Energy's ethanol plant in Lloydminster received $71.8 million (€48.9 million) in assistance under the federal government's EcoEnergy programme to sustain biofuel production in the face of volatile feed grains markets.

With ethanol plants in Lloydminster and Minnedosa, Husky is Western Canada's largest ethanol producer, making 260 million litres a year which is added to its Husky and Mohawk petrol.

Last year, the Lloydminster plant purchased $22 million worth of low-quality grain from area grain producers. But price volatility has added a huge risk to the ethanol business.

The federal assistance works out to $0.10 per litre of production, an amount that will be reduced as profitability in the ethanol market improves.




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