Grants and Contributions:
Title:
Renewable fuel production facility
Agreement Number:
819427
Agreement Value:
$49,500,000.00
Agreement Date:
Aug 2, 2021 - Dec 31, 2022
Description:
This project will support the conversion of the traditional oil refinery in Come By Chance, Newfoundland and Labrador into one capable of producing diesel and sustainable aviation fuel from renewable plant oils.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
The investment will allow for the continued use of a valuable regional asset, provide employment to a rural community, and support Canada's transition to a low carbon economy by increasing the global supply of renewable fuel.
Location:
Come By Chance, Newfoundland & Labrador, CA A0B1N0
Reference Number:
230-2022-2023-Q2-002
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
828958983
Recipient Type:
For-profit organization
Additional Information:
This is a fully repayable contribution.
Recipient's Operating Name:
North Atlantic
Recipient's Legal Name:
Braya Renewable Fuels (Newfoundland) LP
Federal Riding Name:
Bonavista--Burin--Trinity
Federal Riding Number:
10002
Program:
SIF Stream2- Growth
Program Purpose:
The Strategic Innovation Fund (SIF) attracts and supports new high-quality business investments. In allocating funding, SIF looks to accelerate areas of economic strength, strengthen and expand the role of Canadian firms in regional and global supply chains, support economic strategies, and attract investment that creates new, good, well-paying jobs.
NAICS Code:
339900