SD Tech Fund: $1M in for KSM Inc.’s Sustainable Fertilizer Production
KSM Inc., based out of Quebec, is aiming to enter the top ranks of the agriculture industry as a low-cost producer of SOP (sulfate of potash) and SOPM (sulfate of potash magnesia) fertilizers. This is being achieved by their innovative process of creating fertilizer from potassium chloride, sulfuric acid, and magnesium compounds extracted from abundant mine tailings. The company is receiving government funding from Sustainable Development Technology Canada (SDTC) to continue developing this project and bring its cleantech solutions to market.
KSM Inc. has received almost $1,000,000 in funding for environmental projects from SDTC’s SD Tech Fund.
The SD Tech Fund is a Canadian government funding program administered by Sustainable Development Technology Canada (SDTC). The program is designed to support small and medium-sized businesses who are advancing clean technology innovations by developing and demonstrating cleantech solutions. The announced funding will assist KSM Inc. in advancing their fertilizer production process, which will not only have a positive effect on the environment, but also on the local economy.
$1M in Funding for Cleantech from the SD Tech Fund
KSM Inc. has developed and patented a new technology that uses mining residue to producer fertilizer in a more efficient way. This solution operates at a lower temperature, which will help reduce greenhouse gas emissions and also reduce maintenance, operating, and construction costs.
KSM Inc. has received approximately $1M in Canadian government funding from SDTC’s SD Tech Fund.
The investment will enable the company to construct and run a fertilizer demonstration plant at an industrial facility in Thetford Mines, Quebec. This will allow them to finalize the development of their fertilizer process and move closer to their goal of achieving a fertilizer output of 55,000 tonnes per year. This kind of support from the SD Tech Fund is helping Canada grow as a world class competitor in the cleantech sector.
SDTC’s SD Tech Fund: Funding for Environmental Projects
The SD Tech Fund supports pre-commercial cleantech projects that have the potential to deliver significant and measurable benefits to Canada’s environment and economy. It’s uniquely positioned to support the development of clean technologies that, upon commercialization, will have profound impacts to the environment while also improving business competitiveness.
Applicants can receive up to 33% of eligible project expenses with a total funding contribution ranging from $200,000 to $15,000,000 in cleantech grants.
Sustainable Technology Development Canada specifies four unique project focus areas where eligible clean technologies can be applied. These include: clean air, climate change, clean soil, and clean water.
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