Investments in Forest Industry Transformation (IFIT) Awards $15M in Funding
Canada’s forestry sector is a vital part of the Canadian economy and is crucial to the wellbeing of many communities that rely on it. Incorporating more advanced technology to drive environmental, community, and economic benefits is one of the government’s top priorities for the Canadian forestry industry. Innovations in wood processing can advance the development of Canada’s renewable resource economy, create new markets, combat climate change, and generate jobs. To support this objective, Quebec’s Granule 777 Inc. has been announced as a recipient of Canadian government funding.
Granule 777 Inc. has received $15,000,000 in forestry grants from the Investments in Forest Industry Transformation (IFIT) program.
The Investments in Forest Industry Transformation program provides non-repayable contributions to businesses in the Canadian forestry sector to implement first-in-kind technologies in their facilities. Supported technologies should help the forest industry become more environmentally sustainable and economically competitive.
Granule 777 Inc. Receives $15M in Forestry Funding
Granule 777 Inc., based out of Chapais, Quebec, will be using the Canadian government funding to build the first fully integrated industrial wood pellet and sawmill complex in Canada. Forestry grants will also allow Granule 777 to purchase new innovative production equipment.
Adoption of new advanced technology at the sawmill will support the surrounding rural and Indigenous communities. It will also improve the company’s production output, diversify its product offerings, and improve the overall competitiveness of the mill.
Cleantech funding from the Investments in Forest Industry Transformation (IFIT) program will support Granule 777’s investment in new technologies.
The new mill will be constructed adjacent to Granule’s existing Barrette-Chapais sawmill. Upon completion, the complex will manufacture 210,000 metric tons of wood pellets per year, reduce its reliance on fossil fuels, use 450,000 green metric tons of biomass, and create 40 new jobs for mill operations.
About the Investments in Forest Industry Transformation (IFIT) Program
The Investments in Forest Industry Transformation is a Canadian government funding program providing support for projects at the pilot to commercialization phase, with the intent of helping these technologies to become market ready. The program is committed to helping bring the next wave of innovation to market and solidifying Canada’s position as a leader in forest industry transformation.
Eligible businesses must:
- Be a for-profit company that produces forest products and has an existing forest product manufacturing facility in Canada, or
- Become a new entrant in the Canadian forest sector for the purpose of the planned project.
IFIT provides non-repayable contributions of up to 50% of a project’s costs to a maximum of $20 million for the demonstration of innovative technologies in the Canadian forest industry.
Projects that are eligible should benefit the Canadian forestry sector and environment. This can include reducing greenhouse gas emissions, creating advanced energy efficient building materials, increasing Canada’s green electricity production, and reducing water and waste.
The program’s call for proposals is currently closed and IFIT has not yet announced if another will open.
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