Canada’s biofuel industry is seeing a major uptick in investment spurred on by growing global demand for biofuel and, in particular, the implementation of the country’s new Clean Fuel Regulations. In recent years, much of the investment in Canada’s biofuel sector has targeted the production of renewable diesel, a biomass-based fuel that is chemically equivalent to petroleum diesel and can either be blended with it or used as a replacement fuel. Investment has been driven in part by provincial policies, like B.C.'s low-carbon fuel standards, and by Canada’s Clean Fuel Regulations. “That’s a primary topic right now,” said David Schick, vice-president of Western Canada and regulatory affairs for the Canadian Fuels Association, which represents companies that process crude oil and bring products to the market. “Our members who provide most of the transportation fuel in Canada, up to about 95 per cent are coming up with ways to have more biofuels in the fuel mix in order to meet compliance obligations.” Interest in renewable diesel is also growing south of the border, due to the U.S. Renewable Fuel Standard and state-level policies in California, Washington and Oregon. Schick, with the Canadian Fuels Association, said many fuel companies could easily build projects in Canada or the U.S., but will choose the option that makes the most economic sense.
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