The federal government handed out a $500,000 loan to Sustane Technologies on April 4.
Bernadette Jordan, Member of Parliament for South Shore – St. Margarets, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), made the announcement at Kaiser Meadows, where Sustane is developing its waste management and recycling plant.
The "repayable contribution" from ACOA's Business Development Program comes on top of a $2.7 million grant from the federal government's Sustainable Technology Development Canada bestowed on the company last year, as well as money it has received from the Atlantic Canada Opportunities Agency (ACOA), Nova Scotia's Innovocorp and private investors.
"Sustane has developed strong partnerships to build systems that work in the real world and respond to the pressing need to significantly reduce the volume of solid waste being sent to landfills. This project demonstrates that clean innovation can drive the economy and create jobs in rural areas such as Chester," Jordan said in a release.
Sustane is building its plant at the Kaiser Meadow Waste Management Facility on Highway 14, not far from Chester.
Sustane is on target to divert 40,000 to 50,000 tons of waste from the Kaiser Meadow landfill yearly, according to one of the company's co-founders, Peter Vinall, who spoke to LighthouseNOW reporter Gayle Wilson in late February.
From that, it will separate out 90 per cent worth of metals, glass, plastic, miscellaneous materials and biogenic material, such as incidental food, paper, cardboard and diapers.
In the process, it will create 3.5 million litres of diesel a year and 25,000 to 30,000 tons of fuel pellets for industrial power and heating.
Vinall says Sustane's own process will use about 25 per cent of the diesel and the rest will be sold.
The remaining 10 per cent of the leftover material will then go into landfill.
The technology will also provide enough process heat to power its new commercial operations in Chester.
Once the Chester plant is operating, Sustane hopes to market its technology to municipal governments in Canada and the United States, while creating new jobs for more than 25 people.