The Nord-du-Québec SME will receive over $100,000 in financial assistance from CED to accelerate the green shift and sustainable development in Quebec's regions.
Chapais, Quebec, November 7, 2022 - Canada Economic Development for Quebec Regions (CED)
SMEs have a key role to play in ensuring Quebec's economy makes the environmental transition. They seek to innovate and grow by becoming more competitive in a greener world. That is why the Minister of Sport and Minister responsible for CED, the Honourable Pascale St‑Onge, is today announcing a repayable contribution of $115,190 for BoreA Canada to construct a multi‑purpose building.
This CED assistance will also enable the SME to acquire and install specialized production equipment to improve its productivity and production capacity, all while reducing its environmental impact.
BoreA Canada specializes in the production of organic, authentic, ecofriendly essential oils and hydrosols in bulk. Its operations are already founded on a circular economy centred around the use of recovered forest residue and the transfer of residual production material to a cogeneration plant. Its current patented extraction process makes it possible to reduce greenhouse gas (GHG) emissions by 60% compared with the standard process. Through this project, BoreA Canada will be able to increase its production while seeing an 85% reduction in its GHG emissions.
A sustainable, just, and more inclusive recovery will come, among other things, from businesses making the green transition. The Government of Canada supports SMEs by fostering sustainable development in all regions across Quebec. To achieve this, it leverages programs and services adapted to accelerate the launch of innovative projects, the adoption of clean technologies, and the development of greener products. In this way, CED is providing concrete assistance to Quebec's businesses, entrepreneurs, and workers so they can better position themselves and seize opportunities arising out of an economy in transition.
Quotes
"The climate crisis is our greatest challenge. That is why our government is supporting the Chapais business, which is shining a spotlight on the boreal forest and its sustainability and which has adopted a model based on the circular economy. Congratulations to the entire BoreA Canada team on pursuing this green shift!"
The Honourable Pascale St‑Onge, Member of Parliament for Brome-Missisquoi, Minister of Sport and Minister responsible for CED
"Thanks to our new building, we will be able to purchase and install specialized equipment that will enable us to increase our productivity while reducing our environmental impact. And that is exactly what BoreA Canada has been striving to do since it began: To produce and offer authentic quality products manufactured with the greatest respect for nature and the environment. These improvements to our processes and facilities are possible due in part to CED's contribution."
Jean-Claude Villeneuve, President, BoreA Canada
Quick facts
- According to a survey conducted in 2022 by Canadian Manufacturers & Exporters, 90% of Canadian manufacturing SMEs have not yet begun their low-carbon transition, and yet, SMEs generate approximately 30% of Canada's total GHG emissions.
- The 2021 Speech from the Throne confirms that the fight against climate change and the green shift are priorities for the Government of Canada.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
- The funding announced today has been granted under the Jobs and Growth Fund (JGF) program. This program targets businesses and economic organizations to help them prepare local economies for long-term growth. It involves strategic investments in projects aimed at reducing Canada's environmental impact and fostering a green, resilient economy.
