SDTC Funding Announced for Advonex International
Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, Announces SDTC Funding for Advonex International
FOR IMMEDIATE RELEASE – Kingston, ON – Yesterday, at a media conference in Vancouver, Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the latest round of Sustainable Development Technology Canada (SDTC) funding for clean technology companies. This includes a 3-year project led by Advonex International to demonstrate a pilot facility for producing bio-based lubricants.
Sustainable business solutions for a more sustainable world.
Advonex International’s Entrada™ –BASE enables the development of next generation automotive and industrial lubricants that provide better equipment protection, reduce wear, last longer and reduce GHG emissions. With the support of SDTC, Advonex now plans to bring this renewable product up to commercial scale by developing a 1T/day pilot production plant.
“Advonex has assembled a stellar consortium that cover the entire value chain from feedstock plants to finished lubricants to marketing & distribution,” said Chad Joshi, CEO, “Our partners include Minnesota Soybean Processors, Greenfield Specialty Alcohols, Valvoline Corporation and Queen’s University, each of which complement Advonex’s internal capabilities.”
Sustainable Development Technology Canada (SDTC) is an arm’s-length foundation created by the Government of Canada to support innovative and entrepreneurial clean technology projects. Our portfolio of companies develop and demonstrate new technologies that address issues related to climate change, air quality, clean water and soil.
“Sustainable Development Technology Canada is very proud to support the commercialization of Advonex International’s innovative technology,” said Leah Lawrence, SDTC President and Chief Executive Officer. “This project will create green jobs for the local economy, increase efficiency in the sector and provide economic and environmental benefits for all Canadians.”
About Advonex International
Advonex International, an innovator in the bio-chemicals industry, produces hydrocarbons from biological feedstock through its patented process innovations. These renewable hydrocarbons enable high-performance lubricants, organic, renewable cosmetics and lotions by replacing petroleum-based ingredients with better performing renewable components. Our Science. Your Business. Better World.