Forestry Trust Announces Two New Projects

NOTE: This release is issued on behalf of the Forestry Innovation Transition Trust.

Two more projects, totalling more than $2.5 million, have been approved by the trustees of the Forestry Innovation Transition Trust.

The Verschuren Centre for Sustainability in Energy and the Environment is receiving $926,500 to further support the development of the Bio-technology and Bio-manufacturing Acceleration Centre in Sydney. It aims to advance commercialization of key forestry and biomass sector innovative technology companies.

Research Nova Scotia will receive about $1.6 million for a project to assist the forestry sector as it transitions to the ecological forestry model. The five-year research and knowledge mobilization program will be led by Dalhousie University.

To date, the Forestry Innovation Transition Trust has committed more than $28 million of the $50-million fund.

The fund may be used by companies, organizations or post-secondary institutions working and researching in the forestry and biological resources sectors, and by forestry workers to access funding for training. The three trustees review the submissions and make spending decisions.

Quotes:

“These two projects are excellent examples of using innovation to support Nova Scotia’s forestry industry and transition it for the future. The projects announced today, together with the previously funded projects, are helping to strengthen this sector and ensure it’s sustainable for the long-term.”

– Rosalind Penfound, Chair, Forestry Innovation Transition Trust

“This funding will enable the Verschuren Centre to continue to grow and scale clean technologies for partners in the forestry and biomass sectors, allowing them to adapt new, high-value solutions. This adds new jobs and investments resulting from technology adaptation.”

– Beth Mason, President, Verschuren Centre for Sustainability in Energy and the Environment

“Research Nova Scotia works closely with the Forestry Innovation Transition Trust and the forestry sector to identify initiatives that will fulfill the goals of the Province’s forestry research agenda. This funding will lead to significant new capacity in Nova Scotia’s post-secondary forest expertise.”

– Stefan Leslie, CEO, Research Nova Scotia

Quick Facts:

• there are now 15 approved projects under the trust; it will remain open for new applications until March 31, 2025, or until funds have been spent
• the trustees are Rosalind Penfound, Douglas Hall and David Saxton
• projects may include the development of high-value products and/or new and enhanced business models, processes or services, inclusive economic growth opportunities and new ecological services
• the trust accepts applications from businesses, organizations and post-secondary institutions three times a year; 2023 applications will be accepted in April, August and December
• forestry workers can apply at any time for funding to support training or retraining