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Transaction
CARBONITY - NRCan IFIT contribution, Port-Cartier biochar plant (Jul 2023)
Terms
- Announced
- 5 Jul 2023
- Instrument
- Grants
- Amount
- US$5.67mReported as $7.5 million (of a $10.5 million total federal contribution), converted at 0.7565 USD/CAD (July 2023 average)
- Source
- canada.ca
Parties
- Project developer
- CARBONITY
- Country
- Canada
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Natural Resources Canada Grantor US$5.67m Sole provider: the whole transaction
Carbon
- Pathway
- Biochar
What happened
- Natural Resources Canada contributed C$7.5m through the Investments in Forest Industry Transformation (IFIT) program towards a biochar plant at Port-Cartier, Quebec, built by CARBONITY (a joint venture of Airex Energie, SUEZ and Groupe Remabec). Source: 'A contribution of $7.5 million comes from Natural Resources Canada through the Investments in Forest Industry Transformation (IFIT) program'.
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