Feds Invest $1.4 million in Clean Tech Company SixRing

by | Sep 6, 2022 | Business, Funding

The Canadian government is investing more than $1.4 million to support SixRing Inc.’s next phase of development to scale up production, a Sept. 6 news release said. These funds will be used for scaling the company’s low-energy biomass conversion process that converts agricultural waste into renewable fuels and sustainable advanced materials.

“The agriculture sector is working hard to propel climate action to build a healthy future for Canada. Under the Agricultural Clean Technology program, this investment in SixRing Inc. will ensure our farmers grow their profits, protect our environment and continue to feed the world sustainably,” Francis Drouin, parliamentary secretary to the minister of agriculture and agri-food, said in the release.

Under the Agricultural Clean Technology Program, this investment in SixRing’s proprietary technology will enable the company to significantly scale up its production through research and development activities, the release said. This phase of development will also include intensive testing of underused feedstock and improving production efficiencies to optimize the company’s technology. Utilizing this low carbon-intensity solution to manage agricultural waste will help to significantly reduce greenhouse gas emissions and generate additional farm revenues across the country.

“This funding contribution will greatly assist in accelerating our SixRing crop-based feedstock research and process optimization. We look forward to supporting our agricultural industry by generating new avenues of revenue from these crop waste products while allowing for greater access to low carbon-intensity, non-food-based sustainable fuels including SAF, Diesel and Gasoline,” Clay Purdy, CEO and chairman of SixRing Inc., said in the release.

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