96 Plus receives $2M in funding from federal government
by CM Staff
The repayable contribution will allow the business to cover part of the cost of acquiring and installing ethanol production equipment.
SHERBROOKE — On Aug. 9, Élisabeth Brière, MP for Sherbrooke and Parliamentary Secretary to Mélanie Joly, Minister of Economic Development and Official Languages (Canada Economic Development for Quebec Regions), announced $2 million in funding for 96 Plus (9416-8382 Québec inc.). The aim of this startup SME is to produce high-purity, pharmaceutical-grade and food-grade ethanol. The repayable contribution will allow the business to cover part of the cost of acquiring and installing ethanol production equipment, including distillation towers, cooling and ventilation systems, heat and steam equipment and fermenters, as well as professional fees (engineering and certification).
Quebec’s economic recovery relies, among other things, on organizations that are strongly grounded in the regional economy. Innovation is a major contributor to growth, as well as a key asset for rebuilding a stronger, more resilient and more just economy for all.
“We are helping businesses equip themselves with the tools they need to remain competitive, prosper and create good jobs. With the help of the Government of Canada’s financial assistance, 96 Plus will be able to go ahead with its high-purity ethanol production project, which will help Canada reduce its dependency on foreign products by being able to rely on one of the local businesses involved in Canadian SMEs’ response to the COVID-19 pandemic.” said Élisabeth Brière, MP for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages.
“The startup of 96 Plus will provide Canadian businesses with access to locally produced ethanol. The Sherbrooke plant will produce USP-grade ethanol that meets the highest quality criteria based on Canadian, U.S. and European standards. We are proud to soon be able to offer this high-quality, locally produced product, and we are grateful for CED’s support, which will allow us to set up shop in the Eastern Townships and create good-quality, well-paid jobs.” said Dominic Francœur, President, 96 Plus.