BIC receives $15M contribution from FedDev Ontario
While in Sarnia, Minister Mélanie Joly announces 600 new jobs for Bioindustrial Innovation Canada. FedDev Ontario’s financial contribution will promote new sustainable innovations and bring business support network to Eastern Ontario. Based in Sarnia, Bioindustrial Innovation Canada (BIC) is a business accelerator that provides support, services and investments to developers of clean, green and sustainable technologies. These innovations reduce the use of hazardous substances and pollutants, and play an important role in the development of solutions to climate change and the preservation of safe water and scarce natural resources. Clean technologies are trending here in Sarnia
In 2015, BIC established the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) initiative in Sarnia, offering expert advice and technical services to companies seeking to bring their clean tech innovations to market. With an abundance of agricultural resources, Sarnia is an ideal location for the development of clean technologies and sustainable alternatives. BIC continues to support local jobs, many companies that strengthen the Sarnia-Lambton Hybrid Chemistry Cluster, and implement sustainable solutions in areas ranging from wastewater remediation to creating fuel from agricultural waste.
Expanding support for clean tech companies to Eastern Ontario BIC is now creating the Ontario Bioindustrial Innovation Network (OBIN)—a second hybrid chemistry cluster in the St. Lawrence Corridor, in Brockville. BIC will partner with the St. Lawrence Corridor Economic Development Commission and St. Lawrence College to deliver OBIN. The Network will fill a gap in supporting innovative companies in sustainable chemistry and clean technologies to overcome setbacks to commercialization, while reducing environmental impacts. Mélanie Joly, Minister of Economic Development and Official Languages , accompanied by Parliamentary Secretary Kate Young, was in Sarnia to visit the team at BIC today, where she announced a $15 million contribution towards the expansion project. Through this project, 150 businesses and organizations will be assisted and 700 jobs will be created and maintained in southern Ontario. This new sustainable chemistry hub will position Ontario – and ultimately Canada – as a leader in helping innovative clean tech companies scale up and grow. Quotes "We are working for you to support organizations like BIC as they help researchers and scientists to bring new, green technologies to the world, while creating strong communities and good quality jobs here in Ontario. Investments like the one announced today demonstrate our government’s vision that the economy and the environment go hand-in-hand.”
– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages “BIC’s model of supporting companies in the sustainable chemistry sector has been highly successful here in southwestern Ontario, resulting in job creation and economic benefits for the region. It’s great to see BIC expand its reach and bring its services to Eastern Ontario. This will help create a regional clean technology hub that will benefit all Canadians.
– Kate Young, Parliamentary Secretary to the Minister of Economic Development and Official Languages (FedDev Ontario) “The federal government has been a strong supporter of our work at Bioindustrial Innovation Canada. With this support, BIC has successfully provided investment, advice and services to business developers of clean, green and sustainable technologies within Canada. We are thrilled to receive this investment to establish the Ontario Bioindustrial Innovation Network (OBIN). This funding will enable BIC to continue its work to strengthen the Hybrid Chemistry Cluster in Sarnia-Lambton and to enable the development of a second Sustainable Chemistry Cluster in the Eastern Ontario St. Lawrence Corridor region centred around Brockville and Maitland.”
– A.J. (Sandy) Marshall, Executive Director, Bioindustrial Innovation Canada Quick facts
BIC works to position Ontario and Canada as global leaders in converting renewable resources into bioenergy, biofuel, biochemical and biomaterials for use in a wide range of commercial applications from chemistry to advanced manufacturing.
In addition to FedDev Ontario’s contribution, BIC has leveraged $37.3 million from venture capital investors.
FedDev Ontario provided BIC with an initial $12 million investment in 2016 to support the COMM SCI initiative, which resulted in the creation of more than 375 full-time jobs and 150 industrial collaborations.