IGPC Ethanol, a farmer-backed corn ethanol project southeast of London, Ont., has picked up $3.9 million in federal funding.
Joe Preston, an Ontario MP, announced the funding Friday from the federal ecoAgriculture Biofuels Capital (ecoABC) initiative for the project, spearheaded by the Integrated Grain Processors Co-operative at Aylmer.
IGPC’s plan calls for a 150 million-litre ethanol plant, which is already under construction and expected to be complete by November, creating 35 local jobs. It has already sourced $15.5 million in equity investment from farmers, it said in the government’s release.
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The co-op expects its ethanol plant will also produce distillers’ dried grains with solubles and distillers wet grains — both sources of protein for dairy and beef cows, hogs and poultry — as well as carbon dioxide for use in carbonated beverages, freezing foods and making chemicals.
The co-op’s application to ecoABC cited eligible project costs of $109 million, about 18 per cent of which it estimates will be covered by direct investment from farmers.
The project is just the third ethanol facility in Canada to be approved for funding under the $200 million ecoABC program, the government said.
