Canada announced more than $6 million in funding through the federal AgriScience Program to support national nonprofit Bioindustrial Innovation Canada. The funding will empower BIC to forge the Bioproducts Cluster, a project which will aim to develop specialized technologies that turn renewable resources like agricultural residues into useful bio-fuels and bio-materials like ethanol and biodegradable plastics.
“This funding will provide new opportunities for our farmers to profit from agricultural by-products that would otherwise go to waste,” stated minister Lawrence MacAulay. The revenue from Canadian industrial bio-products in 2015 was estimated at $4.3B; by 2030, the global bio-economy is projected to reach $10T CAD annually, with Canada’s estimated share up to $240B.
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