Canfor announced a final investment decision to support the first phase of the Arbios Biotech’s biomass to low carbon biofuel plant in Prince George.
The plant will use new technology to convert sawmill residues, primarily bark, into high-value renewable biocrude which can be further processed in refineries to produce low-carbon transportation fuels.
According to Don Kayne, Canfor President and CEO, Arbios is a joint venture between Canfor and Licella Holdings Ltd.
“Our decision, as part of the Arbios joint venture, to support investment in state-of-the-art biomass to low carbon biofuel plant in British Columbia is a demonstration of our commitment. We are also building a Bio-Innovation team that will unlock the full value of each log by developing and commercializing new opportunities,” added Kayne.
He notes that Canfor works to partner with Indigenous communities and will work with 100% of the operating area covered by agreements with willing Indigenous Nations by 2030.
This support was announced along with the company’s new sustainability efforts that focus on Safety, Health and Wellness, Inclusion and diversity, Indigenous relations, sustainable forestry, and climate change.
According to Kayne, the company will work to maintain biodiversity and local wildlife habitats by employing ecosystem-based management and collaborative partnerships, with special consideration for species at risk.
The CEO also says the company will conserve water quality and fish habitat by implementing best management practices to minimize erosion and sedimentation.