CRIBE invests C$1.5M to increase capacity of Ensyn's biofuels facility in Canada

By VCPOST Staff Reporter

Apr 04, 2014 05:06 PM EDT

The Centre for Research and Innovation in the Bio-Economy (CRIBE) is investing C$1.5 million to increase the production capacity of Ensyn Technologies' biofuel plant in Ontario, according to CNW.

Marketwired cited Ensyn President David Boulard saying: "This project represents a critical step in our biofuels development process/ Although Ensyn has had commercial operations for many years, and while the Renfrew facility has served us well as a commercial merchant facility for contract production and business development, Renfrew will now serve as our first commercial facility dedicated to biofuel production and will allow us to accelerate the development of market demand. We are pleased that CRIBE has elected to help us on this important project."

The capacity of the plant is being increased to cater to the growing demand from Ensyn's customers from Canada and the US. The company just inked a five-year deal with Memorial Hospital of North Conway in New Hampshire to replace petroleum-based fuels with RFO as a heating fue. The project is expected to close by mid-2014, the report explained.

According to CNW, the investment will help increase Ensyn's annual production capacity from 3 million liters to 13 million liters. RFO, the main product of Ensyn, is a liquid biofuel that can be used as a heating fuel and a feedstock for gasoline and diesel production, the report detailed.

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