Government investing $22.7 million to support FPInnovations
Beginning in 2020-21, the Forest Innovation Program will receive $91.8 million over three years. The funding will help the Canadian forest sector innovate and grow, and help Canadian forest companies adopt new, innovative technologies.
The government has also committed to a $22.7 million investment as part of the program to help FPInnovations diversify markets and fight climate change. The funding includes more than $20.4 million to advance new forest-based products to the market and over $2.3 million to support a research project which aims to help the forest industry protect market access and improve environmental performance.
“FPInnovations welcomes this announcement, which consolidates the government’s support for the Canadian forest industry and ensures the stability of its operations. This commitment, renewed for the next three years, will foster the implementation of innovative strategies while supporting industrial partnerships across the forestry supply chain,” said Stephane Renou, president and CEO of FPInnovations, in a statement.