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Highlights
The Government of Canada announced a new Biofuels Production Incentive worth more than CAD 370 million over two years.
Tidewater Renewables’ Prince George renewable diesel refinery is expected to produce 150–170 million litres annually during 2026–2027, positioning it to benefit from the program.
The incentive is expected to provide support of up to 300 million litres per facility between January 2026 and December 2027.
On September 5, 2025, the Government of Canada announced its intention to introduce a new Biofuels Production Incentive, aimed at supporting the country’s biodiesel and renewable diesel producers. The program is designed to provide more than CAD 370 million over two years to enhance the stability and resilience of Canada’s domestic biofuels industry.
The incentive, available from January 2026 to December 2027, will be granted on a per-litre basis to eligible producers. Each facility will be able to access support for up to 300 million litres of production over the program’s duration. Further details on the program will be provided by Natural Resources Canada in the coming weeks.
Tidewater Renewables’ Prince George Refinery
Tidewater Renewables Ltd. (TSX:LCFS), owner of Canada’s first renewable diesel refinery, welcomed the federal government’s announcement. The company’s renewable diesel facility in Prince George, British Columbia, is forecast to produce between 150 million and 170 million litres annually during 2026 and 2027.
This production level positions Tidewater Renewables to participate in the Biofuels Production Incentive program, with expected benefits to cash flow and project returns during the eligible period.
Broader Government Initiatives
Alongside the Biofuels Production Incentive, the Government of Canada also announced its intention to make targeted amendments to the Clean Fuel Regulations. These adjustments are aimed at aligning federal measures more closely with provincial and territorial initiatives to ensure the long-term growth of Canada’s low-carbon fuels industry.
The combined actions are intended to support the competitiveness of domestic producers, maintain supply stability, and advance Canada’s broader energy transition objectives.
About Tidewater Renewables
Tidewater Renewables is a Canadian energy transition company focused on the development and production of low-carbon fuels, including renewable diesel and sustainable aviation fuel. The company was established to address the growing demand for renewable energy in North America and leverages proven technologies to convert diverse feedstocks—such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomass—into renewable fuels.
Tidewater Renewables’ objective is to become a leading producer of renewable fuels in Canada. It pursues this goal through ownership, development, and operation of clean fuel projects and supporting infrastructure designed to deliver reliable low-carbon energy solutions.
