The move follows after the company signed a 25-year power supply contract with Hydro-Quebec securing power production of 7.2MW. With this agreement, Hydro-Quebec owns 20.6MW power contracts for the next 25 years.
Innoventé president Richard Painchaud said that third agreement with Hydro-Quebec validates the company’s expertise in power production from organic wastes.
With power production estimated to start in fall 2015, the plant will be developed in the RockTenn board mill that has been out of operation for more than a year.
For the plant operation in Matane, the company is keen to employ its patented technology that uses biodryers to convert forest, industrial, agricultural and municipal residues into biofuel.
"We rejoice that a community such as Matane has chosen the technology of Innoventé to revive the plant and implement a new viable, green and sustainable industry," Painchaud added.
