Québec-based Solugen, which makes organic nitrogen fertilizer from hog manure, has received $20 million in federal funding.
Canadian Finance Minister François-Philippe Champagne made the announcement March 17.
“Agriculture is without a doubt one of the most important and investable sectors in our economy,” said federal Agriculture Minister Heath MacDonald in a news release.
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“The pace of technological advancement we’ve seen across the industry in recent years has been impressive, and investments like this will continue to accelerate innovation.”
The federal cash is part of an $50 million equity commitment alongside Idealist Capital to support the next phase of Solugen’s growth and commercial expansion.
Solugen produces and commercializes Azogen, a fast-release liquid ammoniacal nitrogen fertilizer derived from hog manure.
The investment will allow Solugen to expand capacity at its existing plant in St-Patrice-de-Beaurivage, Que. and construct a second facility in the province.
Solugen was founded in 2017 and is headquartered in Lévis, Que. Its Azogen is produced through a fully circular process. By converting manure into high-performance fertilizer, it reduces greenhouse gas emissions associated with conventional fertilizers, the news release said.
The funding comes through the Canada Growth Fund, a $15 billion, arm’s length public investment vehicle launched by the federal government to attract private capital and invest in Canadian projects and businesses.
