LETHBRIDGE: The federal government is putting over $31-million into Kyoto Fuels Corporation over the next six years.
The company is based in the County of Lethbridge and will use the money to increase their production of biodiesel, using things like vegetable or cooking oil and animal fat.
The fuel not only comes from a renewable source, but also reduces greenhouse gas emissions by 80-per cent over regular diesel fuel.
Kyoto Fuels President and CEO Kelsey Prenevost stated that it will help reduce Canada's depenance on the U.S. for biodiesel, as the facility will produce 66-million litres of biodiesel a year once it's fully up and running in the first quarter of 2012.
Prenevost went on to say that it will provide an additional 20 jobs for technicians and give a boost to the transportation and distribution industries. He also noted that local farmers will notice a large impact, as they'll be buying more of their products to create the biodiesel, giving those farmers yet another market to explore and develop.
MP Jim Hillyer was also on hand for the event, making the announcement and putting the federal governments support behind the initiative. He explained that it's an important step in helping to protect the environment not only in Canada but the world. Hillyer stated that the government wants to invest in projects that actually make an impact on the environment, instead of things like the Kyoto Accord, which he called "impotent".