Vyterra Renewables receives funding to advance its Nova Scotia low-carbon fuel oil project
Vyterra Renewables Nova Scotia Ltd. has secured CDN $3.8 million of non-dilutive financing to complete the last mile of engineering, design and permitting work to advance its Enfield, Nova Scotia, RTP® project to shovel-ready state by the end of 2026. This funding will accelerate progress towards the final investment decision (FID) project milestone. Part of this funding will also be dedicated to completing some initial earthworks to prepare the site for construction.
Vyterra Renewables NS is majority owned by Vyterra Renewables Inc., a project development company wholly owned by Ensyn Corporation. The Project will be the first in Atlantic Canada to produce Low Carbon Fuel Oil (LCFO), a clean fuel produced from wood residues.
In support of this work, Natural Resources Canada awarded the Company with a contribution of CDN $1.7 million through the Investments in Forest Industry Transformation (IFIT) program. Vyterra Renewables has also received a CDN $2.1 million loan from the Nova Scotia Timber Loan Board.
The Project is a groundbreaking clean fuel facility to be located in Enfield, just north of Halifax, that will convert locally sourced, sustainable wood residues into a made-in-Nova-Scotia liquid clean fuel known as LCFO. Once operational, the Project will have the capacity to consume approximately 140,000 green metric tons of wood residues, producing 40 million liters of LCFO per year. It will be the first of its kind in Atlantic Canada and a demonstration of forest sector transformation to respond to pressing market challenges and build long-term growth and resilience.
Many other local organizations that work to promote economic growth and development opportunities in Nova Scotia's forest sector have also provided important support to the project, including early funding. The Company would like to thank Greenspring Bioinnovation Hub and the Forestry Economic Task Force in Nova Scotia for their critical support and contributions over the years. These organizations understand the critical role that clean energy projects using wood residues like ours can play in strengthening the resilience of Canada's forest sector industry and supporting jobs and economic growth.
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