Bioindustrial Innovation Canada (BIC) is a nationally focused not-for-profit business accelerator that provides critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. In 2015, BIC established the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) initiative, which acts as a hub for the commercialization of sustainable chemistry and bio-based innovation.
BIC’s proven approach for clean, green and sustainable chemistry-based companies offers an ideal platform for the investment necessary to advance hybrid chemistry value chains, providing not only regional economic development and job benefits, but access to global markets.
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BIC investments that have successfully gone public: |
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Peridot Acquisition Corp. (“Peridot”) (NYSE: PDAC) announced today that the U.S. Securities and Exchange Commission (the “SEC”) has declared effective the Registration Statement on Form F-4 (as amended, the “Registration Statement”), filed by Li-Cycle Holdings Corp. (“Newco”) in connection with the previously announced proposed business combination between Peridot and Li-Cycle Corp. (“Li-Cycle”).
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Origin Materials, Inc., the world’s leading carbon negative materials company, announced today that it has completed its previously announced business combination with Artius Acquisition Inc. (“Artius”) (NASDAQ: AACQ, AACQW).
The transaction was unanimously approved by Artius’ Board of Directors and was approved at an extraordinary general meeting of Artius shareholders on June 23, 2021.
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Forward Water Technologies Inc. ("FWT") and Hope Well Capital Corp.* (TSXV: HOPE) ("HWCC" or the "Company") are pleased to announce the completion of FWT's second tranche of its brokered private placement (the "Financing") of subscription receipts ("Subscription Receipts") at a price of $1.00 per Subscription Receipt for aggregate gross proceeds of $1.3 million.
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BIC investments that have successfully completed another round of financing: |
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Manufacturer of upcycled ingredients Comet Bio has completed its Series C equity financing round with a close of $22 million.
The round was led by Open Prairie equity fund management firm and featured other investors including Louis Dreyfus Company (LDC), BDC Capital, and existing investor Sofinnova Partners.
Comet Bio, which created ingredients from upcycled crop leftovers, will use the funds to meet the growing market demand for its ingredients.
“Thanks to the support of our exceptional investors, we will now be able to invest in a dedicated manufacturing facility to grow the supply of our upcycled ingredients,” said Rich Troyer, CEO of Comet Bio. “We will also be investing in innovation including our product pipeline and health claims development.”
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With support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), BIC has continued its mission to support business developers with clean, green and sustainable technologies as part of Canada’s ongoing carbon reduction efforts.
As part of this initiative, BIC has continued its work to assist GreenMantra with the company’s growth plans with a $1-million contribution, which represents the first of BIC’s new scaling investments with support from FedDev Ontario.
Along with this investment, BIC has an ongoing project with GreenMantra to continue a path of continuous improvement and optimization of operations. BIC personnel with extensive chemical processing experience are working in close collaboration with the GreenMantra production team on this project.
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VIRTUAL BioEnergy Symposium
Summer Line-Up:
July 21, 2021: A.J. (Sandy) Marshall, Bioindustrial Innovation Canada
August 18, 2021: Jeff Passmore, Passmore Group and Scaling Up Conference
September 15, 2021: Joint presentation with Meaghan Seagrave from BioNB and Rod Badcock from BioApplied
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BIC Representing Canada at The G20 - OECD Conference |
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Executive Director of BIC, A.J. (Sandy) Marshall participated at the G20 OECD Workshop last week. The workshop's objective was to bring countries together to share and compare existing national strategies and policies for co-designing more effective bioeconomy governance mechanisms and monitoring systems.
Representing Canada, A.J. (Sandy) Marshall discussed “Canada’s Industrial Bioeconomy Strategy” that was built with industry input under the leadership of BIC and the BioDesign Consortium. This will be used as input by the panel into creating a 'Global Bioeconomy Strategy'.
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We would like to highlight one of our COMM SCI project and investment companies, Origin Materials.
Founded in 2008, Origin is the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials. Origin’s patented drop-in technology, economics and carbon impact are supported by a growing list of major global customers and investors. Origin’s technology has been further supported by an ISO-compliant Life Cycle Assessment (LCA) which concluded that Origin’s products are expected to be carbon negative when produced at commercial scale.
BIC has been an early investor and supporter in Origin Materials since 2017.
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Biotech Solutions for Climate Report by Biotechnology Innovation Organization |
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Examining biotechnology's contributions to addressing the climate crisis
New approaches are required at almost every level of the economy. Biotechnology has the potential to be a transformative asset in this struggle, offering vital contributions to near-term greenhouse gas (GHG) reductions and revolutionary tools to avert catastrophic climate change in the longer term. Policies supporting the development and deployment of biotech climate solutions should be part of any government effort to address climate change.
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BIC is now managing BQNC communications and activities |
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The Biomass Quality Network Canada (BQNC) is facilitating the commercialization of agricultural biomass for industrial applications through the development and adoption of quality standards and methods.
By providing updates of the BQNC’s activities, this site is a resource for producers, industry members and researchers who wish to advance the Canadian bioproducts industry.
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BIC's Bioproducts AgSci Research Cluster |
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The Bioproducts AgSci Research Cluster initiative is managed by Bioindustrial Innovation Canada (BIC). This initiative is a nationally distributed pre-commercial research cluster focused on the development of industrial bioproducts technologies and their feedstocks from the Canadian agriculture sector, supported by Agriculture and Agri-Food Canada. Funding was provided through the Canadian Agricultural Partnership's AgriScience Program.
The goals of the AgSci Cluster are to create new and growing opportunities for Canadian farmers, and to provide a competitive, sustainable future for the Canadian agriculture sector. Developing pathways from agriculture to the bioeconomy through industrial bioproducts opens new and alternate markets and applications for the sector, including into the manufacturing and energy sectors. These markets and applications provide sustainable alternatives and new markets for all forms of agriculture beyond food production.
The Cluster is now entering its 4th year under the Canadian Agricultural Partnership.
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The 'Canada Business App' created by the Government of Canada (GC) provides quick access to COVID-19 support and other programs and services. The app simplifies access to government services by allowing business owners to explore GC services through their mobile device, on the go. This ease of access enables governments to get funds and services into the hands of Canadian business owners faster.
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Our YouTube Channel will have all of our recorded virtual sessions, conferences and events!
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We would love to hear from you! Email us to learn more about BIC and how we can support your company.
For more information please contact:
Wayne Maddever, Ph.D., FCAE, P.Eng.
Advisor and Portfolio Manager
Bioindustrial Innovation Canada
1086 Modeland Rd.
Sarnia, ON N7S 6L2
416-606-5855
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COVID-19 Updates
Please continue to be vigilant. The virus is still with us, and it’s important to continue following the guidelines of the health authorities.
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