The company has developed several patented processes to create ultralow-carbon biofuels using crop and forestry waste.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Francis Drouin, parliamentary secretary to federal Agriculture Minister Marie-Claude Bibeau, said the program was oversubscribed and that projects had to be chosen that were feasible and with a strong connection with agriculture. SixRing is developing its technology to use with a wide range of inputs, from unused straw and corn husks, to bark, wood chips and pine beetle-infested wood.
The funding will help the company scale up over the course of two years and further develop new products and increase production. It will partner with other companies on venture operations to expand their portfolio, and potentially licence the technology in the future.