Wit Ventures: Lambton County Invests $500,000 In Bioindustrial Development.

Monday 9 July 2018

Lambton County Invests $500,000 In Bioindustrial Development.

From Paul Morden, Sarnia Observer.

Lambton County council voted this week to move ahead on a $500,000-investment with a Sarnia-based agency helping young companies start production of bio-based products.

It was part of a loan and investment arrangement the county agreed to last summer with Bioindustrial Innovation Canada so the agency could fully tap into matching federal funds.

Bioindustrial Innovation Canada is a government-funded agency that works to help new sustainable technologies reach the market.

The original deal called for the agency to receive a $2.5-million loan plus a $2 million investment by the county.

John Innes, general manager of the county division responsible for finances, said the agency said recently it was now only seeking a $500,000 investment, along with $2.5-million in loans.

On Wednesday, county council approved investments of $125,000 in Comet Biorefining, $250,000 in Origin Materials and $125,000 in Benefuel.

All three companies have plans to set up production sites in Sarnia.

Link to the rest here.

Image. Origin Materials website.

Thank you for reading.

No comments:

Post a Comment

Shirley D. Neal

Shirley has over 30 years of experience in such diverse businesses as financial planning, manufacturing, and supply. Her education includes a B.A., B.ED., M.ED., C.F.P., N.L.P. and the home inspector’s course as well as having her AZ license for five years. Her family home has given her and her husband the opportunity to do extensive renovation and repairs thereby increasing the value about $100,000 in ten years. She has been able to see firsthand how much a sensible and cost efficient renovations can add to the value of a home. Shirley has chosen joint ventures because she thinks that her experiences an help others achieve their goals and maximize the profits for both parties. In 1979, Shirley became involved in a small group of women who started a metal manufacturing company making small deep drawn metal parts for the automobile companies in Windsor. They took the company from start up to over $400,000 in sales in five years. That was a lot of parts since the parts sold for only five cents per each. In 1985 they sold the company to one of their customers. Whether it was selling mutual funds, teaching foster parents how to recruit foster parents, or working for Tony Robbins, Shirley has put more than 100 percent into every endeavour she was involved in.