Biofuels in the ‘Chi?

If this is for real, it sounds very promising for the ‘Chi.

A Fredericton-based company has submitted a bid to purchase UPM’s New Brunswick operations for a $1 billion project to produce bio-fuel. In an exclusive interview with the Miramichi Leader a highly placed source with Arcadia EcoEnergies said the project could potentially employ 1,500 people producing bio-diesel and Jet B fuel as well as byproducts created by the refining process.
Question: Why leak this to the press? Are they looking for some massive incentive from the provincial government and looking for the union/public to lean on their MLA? Is the technology to produce biofuel from cellulose at the stage where a firm can make money?

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0 Responses to Biofuels in the ‘Chi?

  1. richard says:

    “Is the technology to produce biofuel from cellulose at the stage where a firm can make money?”

    Probably not, but perhaps they have a technology that eliminates some of the hurdles. Due diligence by investors / governments would be required to see what is really involved. Those concerns aside, projects like this use one of NB’s natural advantages – the forestry industry to produce value-added products.

  2. Anonymous says:

    One has to wonder what kind of company can make a billion dollar bid, and doesn’t even have a website. “Acadia EcoEnergies” is likely a front for someone else. I wonder…