TESTIMONIAL
Bioindustrial Innovation Canada (BIC) provides critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. In 2016, BIC established the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) program with support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) and additional support from the Ontario Ministry of Economic Development, Job Creation and Trade. COMM SCI acts as a hub for the commercialization of sustainable chemistry and bio-based innovation. COMM SCI has two components, investments and projects. One of these projects is Pyrowave.
Jocelyn Doucet, Co-Founder and Chief Executive Officer of Pyrowave, discusses how BIC has significantly supported his company.
A leader in microwave plastic recycling and a member of the World Alliance for Efficient Solutions, Pyrowave was nominated in the Global Cleantech 100 Ones to Watch List in 2017. Through a patented technology – the Catalytic Microwave Depolymerization – Pyrowave processes locally value added products to be reused by the chemical industry in the production of new plastics. Pyrowave thereby provides an innovative circular economy solution to meet the global challenge of plastic recycling.
The support from BIC has been instrumental in Pyrowave’s path to commercialization. BIC has provided opportunities to access federal funding and support through their Centre for Commercialization and Sustainable Chemistry Innovation (COMM SCI) program. Under this program, Pyrowave successfully completed a series of tests demonstrating the quality of recycled monomers matching virgin monomer quality.
The support from the COMM SCI program has helped Pyrowave strengthen its presence in the petrochemical cluster based in Sarnia-Lambton as the leader of the North American Closed Loop Consortium for polystyrene recycling. BIC is the type of business accelerator the Canadian clean tech community needs to put forward Canadian innovation on the global market.
About Bioindustrial Innovation Canada
Creating jobs and economic sustainability for Canada is the vision driven by Bioindustrial Innovation Canada (BIC).
With support from the Government of Canada and the Province of Ontario, BIC, a not-for-profit business accelerator for sustainable chemistry, has created a successful foundation to support an emerging hybrid chemistry cluster in Sarnia-Lambton, Ontario. BIC recognizes that the expansion and development of the bioeconomy in Sarnia-Lambton can grow alongside the petrochemical industry.
BIC further focuses on critical strategic capital investment in SMEs with compelling business plans where innovation in science and engineering can bring about major advances in sustainable chemistry. Sustainable chemistry is playing an important role in the development of solutions to the impacts of climate change, peak oil, energy security, the need for safe water, and the use of scarce natural resources. The increasing global demand for green and safer products offers the opportunity to create thousands of new jobs for Canadians.
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.
To date, BIC has invested more than $13 million in 27 SME companies, help create more than 3600 high quality jobs, and further leveraged $270 million in private sector funding during its investment rounds.
