The Quebec government confirmed Wednesday that it is investing $284.45 million in Recyclage Carbone Varennes (RCV), in the Montérégie region, for both a biofuel and green hydrogen production plant.
An additional contribution from Investissement Québec is expected to bring the total amount invested by the government to $364.45 million.
Partners Shell, Suncor and Proman are also slated to invest in the project.
They will be responsible for supporting the implementation of an 88 megawatt (MW) electrolyzer for the production of green hydrogen and a clean fuels production plant in Varennes.
Economy Minister Pierre Fitzgibbon states the state-of-the-art equipment will allow Quebec to develop expertise in fields like green hydrogen production, maximize the biorefinery's production yields and reduce its carbon footprint.
The biofuel will be produced from materials composed of forest residues, as well as non-recyclable and non-compostable waste from sorting centres.
Financing is subject to the signing of commercial agreements.
-- This report by The Canadian Press was first published in French on Aug. 24, 2022.
