Quebec invests $284.45 million in carbon recycling plant

The project is a combination of a biofuel plant and a green hydrogen production plant.

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The Quebec government on Wednesday confirmed a $284.45 million investment in Recyclage Carbone Varennes in Monteregie for a project that combines a biofuel plant and a green hydrogen production plant.

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This contribution, through Investissement Québec, brings the state’s total investment in RCV to $364.45 million. Partners Shell, Suncor and Proman will be other investors in the project and will be responsible for helping establish an 88 megawatt capacity electrolyser for green hydrogen production and a clean fuel production plant.

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In a news release, Minister of Economy and Innovation Pierre Fitzgibbon said that the installation of state-of-the-art equipment will allow Quebec to develop expertise in the field of the future, maximize the output of new biorefineries and reduce its carbon footprint. I said it can be reduced. .

Biofuels are produced from materials composed of forest residues and non-recyclable, non-compostable waste from sorting centres.

Financing to RCV is subject to the signing of a commercial agreement.

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Quebec invests $284.45 million in carbon recycling plant

Source link Quebec invests $284.45 million in carbon recycling plant

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