GreenFirst Welcomes More Than $7.5 Million in Ontario Support for Chapleau Modernization and Biomass Innovation

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeBusiness Wire News ReleasesPMN Press ReleasesThis section is The content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire GreenFirst Welcomes More Than $7.5 Million in Ontario Support for Chapleau Modernization and Biomass InnovationAuthor of the article:CHAPLEAU, Ontario — GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) welcomes the Government of Ontario’s support for two initiatives at its Chapleau facility aimed at enhancing competitiveness and exploring new markets for forest biomass.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe Government of Ontario is providing GreenFirst with more than $5.9 million through the Forest Sector Investment and Innovation Program (FSIIP) to support a new sawline and the installation of a high-speed planer. The funding is provided through a performance-based loan, of which up to 50 per cent is forgivable. The project is expected to increase productivity while improving lumber recovery and value. Both the sawline and planer have been installed and are in the process of ramping up.Ontario is also providing more than $1.6 million through the Forest Biomass Program to advance engineering and feasibility work for a potential torrefied pellet facility in Chapleau. The initiative will explore new markets and applications for forest biomass; if the facility is developed, it would have the long-term potential to create 30 direct and 70 indirect jobs.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“We thank the Government of Ontario for investing in Chapleau — and in the skilled team that runs it every day. The new sawline and high-speed planer put modern tools in the hands of our people, as we work to capture more recovery and value from every log. The torrefied pellet project could create new markets for our residual biomass and new jobs for the region, building on Northern Ontario’s abundant wood fibre resources. Together, these initiatives support the long-term future of our operations and the community of Chapleau,” said Joel Fournier, CEO of GreenFirst.GreenFirst is advancing the torrefied pellet initiative in partnership with First Nations and business partners as it evaluates the technical, commercial and financial requirements of the potential project.Since beginning operations in 2021, GreenFirst has invested more than $70 million across its facilities, all located in Ontario. These investments reflect the Company’s continued commitment to modernizing its facilities and maintaining competitive and sustainable operations in Northern Ontario.GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production. The Company owns four sawmills located in rich wood baskets proudly operating over 6 million hectares of FSC® certified public Ontario forestlands (FSC®-C167905). The Company believes that responsible forest practices, coupled with the long-term green advantage of lumber, provides GreenFirst with significant cyclical and secular advantages in building products.View source version on businesswire.com: This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.