CIB to invest C$277-MM in Shell-Suncor biorefinery in Quebec
3/28/2023 11:04:27 AM
(Reuters) - Canada Infrastructure Bank (CIB) said on Monday it would invest C$277-MM in a carbon recycling facility in Quebec run by a joint-venture backed by Shell and Suncor Energy Inc.
The facility will generate hydrogen and oxygen by using electrolysis to convert non-recyclable waste and residual biomass into biofuels with a capacity of up to 130 million liters annually.
Proman and the government of Quebec are also partners in the joint venture running the facility in Varennes. The project is expected to cost C$1.2-B.
Construction at the C$1.2-B has already begun and commercial output is expected to begin in 2025.
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