The Government of Canada has announced today that it’s investing $1 million into Quebec-based KSM Inc. to help to turn mining waste into fertilizer.
Sustainable Development Technology Canada is a foundation that was started by the government to help Canadian companies bring clean technology to market.
The $1 million investment is meant to help KSM build and operate a demonstration plant in Thetford Mines, Quebec.
KSM uses mining residue to produce fertilizer more efficiently than current techniques. Overall, KSM’s plan should help Canada reduce some of its greenhouse gas footprint, and the fertilizer is good for crops.
“Investing in clean technology will help us address the world’s biggest environmental challenges. When we support this sector, we support the entire economy, create well-paying jobs and help protect our precious planet, ” said Canada’s innovation minister Navdeep Bains in a December 20th press release.
This is a good step for Canada since experts say that the global clean technology industry will grow to $2.5 trillion by 2022, according to the press release.