Capital projects exceed $16 billion, which will add over 10 billion litres of new capacity and create thousands of green jobs by 2030.
VANCOUVER, BRITISH COLUMBIA, CANADA, November 30, 2021 /EINPresswire.com/ — Significant investments are planned in Canada over the next decade for new advanced biofuel and synthetic fuel capacity, reports Advanced Biofuels Canada based on its annual capital projects survey. The results of the survey of low-carbon fuel producers, technology developers, and industry suppliers is an indicator of the scale and pace at which the sector could grow by 2030. Annual economic impact from domestic production was calculated to be $14.1 billion in 2030, almost tripling the sector’s current $5.3 billion economic impact in 2020.
A total of 56 projects are included in the 2021 survey results, representing project-level data on capital expenditures (‘capex’) in advanced biofuels and synthetic fuel production capacity, cleantech innovations, and expansion to clean fuel distribution infrastructure for the decade ahead.
Total project investments represent CA$16.3 billion in capex, with 21 projects exceeding $100 million. New investments are estimated to create 2,839 new full-time jobs and, in aggregate, the sector would support 28,000 direct and indirect jobs by 2030. These new clean fuel projects would increase Canada’s production capacity from 2.5 billion litres in 2020, to 10 billion litres by 2025 and over 12 billion litres by 2030.
ABFC President Ian Thomson highlighted the relevance of new capacity. “Increasing our use of non-fossil clean fuels by over 10 billion litres would eliminate 25Mt of greenhouse gas emissions per year. These tonnes would be a game-changer in bridging the large shortfall to reach Canada’s 2030 GHG targets. Equally important, these projects produce very low carbon intensity fuels – some of them net-negative – so they have an indispensable role in a net-zero 2050 economy. The vast majority of new fuels are compatible with our existing liquid fuels infrastructure; these are highly cost-effective solutions that can be implemented rapidly to reduce our dependence on gasoline and diesel fuels.”
Advanced Biofuels Canada released a 2021 capex infographic with detailed survey results. The survey collected project data from members and publicly announced projects, and utilizes economic impact and biofuels use data released earlier this year.
“These projects are not guaranteed,” said Thomson. “Canada faces stiff competition for clean fuel capital investments. Clean fuel standards (CFS) have been the primary driver of investments in California and BC, but Canada’s draft fuel standard, in comparison, is weak. Announced funding programs and tax policies need to scale up to support commercial scale development of clean fuel feedstocks and clean fuel production capacity. Advanced biofuels have a significant role to play in a rebuilding a resilient economy, with well-paying, stable green jobs in rural, remote, and Indigenous communities. Our competitors are rapidly expanding clean fuel production capacity and supply chains to support net-zero transportation that will replace gasoline and diesel with sustainable low-carbon biofuels. Canadians voted for climate action; investors are clearly signalling that the time to act is right now.”
Advanced Biofuels Canada/ Biocarburants avancés Canada is the national voice for producers, distributors, and technology developers of advanced biofuels and renewable synthetic fuels. Our members are global leaders in commercial production of these functional, scalable fuels, with over 15 billion litres of installed annual capacity worldwide. Our members include Canada’s leading advanced biofuels producers and technology innovators which are actively developing new clean liquid fuels production and distribution assets and operations in Canada.
Advanced Biofuels Canada: 2021 Capital Projects Survey Infographic
For information on Advanced Biofuels Canada and its members, visit: www.advancedbiofuels.ca
For information on clean fuels in transportation, visit: www.netzerocleanfuels.ca
For information on clean fuels use in Canada, visit: Canadian Transportation Fuels Dashboard