Ontario Supports Clean Tech Sector And Helps Create Jobs
McGuinty Government Partners With Innovative Local Company
Ontario is helping Pond Biofuels build cutting-edge technology that will help clean the air we breathe while creating 10 new full-time and part-time jobs.
With the province's support, Pond Biofuels is piloting a new, high-tech CO2 absorption system at St. Marys Cement. The new system will reduce greenhouse gases by absorbing dirty smokestack emissions to grow algae which can be used in oil production, converted into biodiesel and bioplastics or act as a renewable coal substitute. Pond anticipates progressing to a full-scale commercial facility at St. Marys by 2014.Partnering with local businesses and supporting made-in-Ontario technologies is part of the McGuinty government's plan to make innovation a driving force of economic growth and create jobs for Ontario families.
- One tonne of algae can yield 100 litres or more of biodiesel.
- Algae is one of the fastest growing organisms in the world, consuming almost twice its weight in carbon dioxide.
- The estimated global market for biofuels in 2011 was $82.7 billion and is forecasted to rise to $185 billion by 2021.
- Ontario is home to around 2,400 environmental industry companies, which employ more than 60,000 people.
- According to a 2008 study from the Canadian Medical Association, Ontario's economic cost related to air pollution, in terms of lost productivity, healthcare costs, quality of life and loss of life, is almost $4 billion.
“Ontario is proud to support innovative companies like Pond Biofuels that are turning innovative ideas into great jobs. We are proud to support the development of new technology that benefits the environment, provides an alternative source of energy and creates new, high-quality jobs in Ontario.”
“The work being done by Pond Biofuels will help create the jobs of today and a healthy environment for our children and grandchildren. Today's announcement reinforces the McGuinty government's commitment to innovation, job creation and to the environment.”
“Solving the problem of industrial emissions requires industry, government, technology and capital all working together. We have that here, with Pond Biofuels providing the technology, St. Marys as our commercialization partner, angel investors in the Biomaterials Investment Group and support from the Province of Ontario. Going forward, Pond's made-in-Ontario technology can be applied to other essential industries, like steel, power generation and resource extraction.”
“This partnership between St. Marys Cement and Pond Biofuels, made possible with the support of the Government of Ontario, reinforces St. Marys Cement's commitment to producing the most sustainable building materials available. With our goal of near-zero emission cement manufacturing and a biofueled distribution fleet, the most sustainable energy projects, green buildings, homes and highways of tomorrow will soon be a reality.”