New process by Quebec-based KSM Inc. will help reduce greenhouse gas emissions from fertilizer production
THETFORD MINES, QC, Dec. 20, 2018 /CNW/ - The development of clean technology is not limited to one industry—companies in all sectors of Canada's economy are finding new ways to be environmentally friendly. These new solutions lead to the creation of good, well-paying jobs; drive economic growth; and help Canada meet its climate change goals.
Today, David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of almost $1 million in KSM Inc.
The funding is being provided by Sustainable Development Technology Canada (SDTC), which works with Canadian companies to bring clean technologies to market. Today's investment will help KSM build and operate a demonstration plant at an industrial facility in Thetford Mines, Quebec.
KSM has developed and patented a new technology that uses mining residue to produce fertilizer more efficiently, replacing current costly and energy-intensive processes. KSM's new technology will help reduce Canada's greenhouse gas emissions, and the fertilizer the company produces has less impact on soil, leading to healthier crops.
Today's investment will help support KSM as it becomes a world leader in fertilizer production. The growing global clean technology market represents an enormous opportunity for Canada, and companies like KSM will help put our country at the front of the world stage.
"Thanks to the investment announced today, we are supporting the development of a clean technology that will have a positive effect not only on the local economy but also on the environment. Through Sustainable Development Technology Canada, our government is making the necessary investments to grow a world-class clean tech sector."
– David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development
"Investing in clean technology will help us address the world's biggest environmental challenges. When we support this sector, we support the entire economy, create well-paying jobs and help protect our precious planet."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"By 2025, farmers will need to produce three times more food per acre to meet the world's growing population. KSM has found a way to help with that by producing fertilizer using less energy and at a lower cost. That is why SDTC is supporting them."
– Leah Lawrence, President and CEO, Sustainable Development Technology Canada
"The investment announced today is a great step forward for KSM. It is helping provide us with the tools we need to finalize the development of our fertilizer process and move one step closer to the construction of our 55,000 tonnes per year plant to be built in the Thetford Mines area. We would like to thank STDC and our partners for their support in the realization of this demonstration project."
– David Lemieux, President, KSM Inc.
- KSM has developed a new process technology that produces fertilizer in a more energy-efficient way than existing processes, using a mining residue as feed material.
- Sustainable Development Technology Canada helps Canadian entrepreneurs develop and demonstrate new environmental technologies that address climate change, clean air, clean water and clean soil challenges.
- Through Budget 2017, the Government provided over $2.3 billion to help clean technology firms grow and expand.
- This includes $400 million to recapitalize Sustainable Development Technology Canada's SD Tech Fund, which supports the development and demonstration of early-stage clean technology projects, and nearly $1.4 billion in new financing through the Business Development Bank of Canada and Export Development Canada.
- Experts expect the global clean technology market to grow to $2.5 trillion by 2022.
SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, firstname.lastname@example.org; Media Relations, Sustainable Development Technology Canada, 613-234-6313, email@example.com