Government of Canada grants $800,000 for QFI Biodiesel startup

Saint-Jean-sur-Richelieu, Quebec, July 5, 2010 – The Honourable Denis Lebel, Minister of State for Canada Economic Development, is pleased to announce $800,000 in repayable funding to QFI Biodiesel Inc. for the startup of its Saint-Jean-sur-Richelieu plant.

The new enterprise will produce premium-quality, non-toxic biodegradable fuel made from animal- and vegetable-based recycled oils such as soya, canola and sunflower. The resulting biodiesel fuel will be sold on Quebec, Canadian and international markets. QFI Biodiesel intends to hire 19 full-time workers to carry out this ambitious project.

"The Government of Canada is proud to support small and medium-sized businesses that, like QFI Biodiesel, are helping to build prosperity and create jobs through their vision and determination. This financial assistance constitutes a real investment in the social and economic development of the Montérégie and one that is sure to help position the region advantageously in this growth sector, both here and around the world," noted the Minister of State.

This funding from the Government of Canada has been granted through the Community Adjustment Fund established under Canada's Economic Action Plan, a measure adopted in January 2009 to mitigate the impacts of the recent economic downturn, stimulate job creation and address the transitional and adjustment challenges facing communities and industries in the process of restructuring.

"Thanks to the special measures provided for in Canada's Economic Action Plan, our national economy is starting to recover. Implementation of Phase II of this plan will help further lay the foundations for solid long-term economic growth and job creation," concluded Minister of State Lebel.

For more on Canada's Economic Action Plan, visit www.actionplan.gc.ca.

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Sources:

Isabelle Beaudin
Communications
Canada Economic Development
Tel.: 514-496-6714
E-mail: isabelle.beaudin@dec-ced.gc.ca

Ève Cardinal
Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Tel.: 819-997-3319
E-mail: eve.cardinal@dec-ced.gc.ca