The Government of Canada has announced an investment of over $6.5 million for Bioindustrial Innovation Canada (BIC) through the AgriScience Program. This funding will support the development of innovative technologies that convert renewable resources into bioenergy, biofuels, and biomaterials.
The funding was announced by Peter Fragiskatos, Member of Parliament for London North Centre, on behalf of Federal Agriculture Minister Lawrence MacAulay. The minister emphasized the importance of advancing technologies that reduce greenhouse gas emissions and increase the value of Canadian agricultural products.
The Bioproducts Cluster, led by BIC, aims to develop specialized technologies that transform agricultural residues into various bio-based products. This initiative has the potential to create new opportunities for farmers to generate revenue from agricultural by-products that would otherwise go to waste.
Bioindustrial Innovation Canada is a national not-for-profit organization that provides strategic investment, advice, and services to businesses developing clean, green, and sustainable technologies. According to BIC’s Executive Director Meaghan Seagrave, the funding will support the development of emerging technologies that benefit Canada and its farmers.
Canada’s agriculture sector presents significant opportunities for the development and commercialization of bioproducts through green chemistry. The integration of agricultural feedstocks and downstream bioproducts into various industry value chains has the potential to increase Canada’s agricultural opportunities and support industrial decarbonization.
Statistics indicate that the revenue from Canadian industrial bioproducts in 2015 was estimated at $4.27 billion. By 2030, the global bioeconomy is projected to reach $10.5 trillion annually, with Canada’s estimated share up to $240 billion.
This funding will enable the development of novel agricultural tools and practices that provide sustainable feedstocks and co-products for various industries. The initiative has the potential to create alternative value opportunities for the sector, complement existing traditional value chains, and support industrial decarbonization by reducing the overall carbon intensity of all sectors involved.
