Biomaxx Systems to Develop Biomass to Electricity Initiative
On March 21st, 2006 the Ontario Government's announced the new standards price they will pay for energy produced from renewable sources in Ontario. Biomaxx Systems Inc. is particularly interested with the inclusion and recognition of electricity produced from biomass. Biomaxx Systems Inc. will now develop a new initiative to produce a commercially viable product offering for biomass to electricity production. In the past the challenge with renewable energy in Ontario, has been the lack of compensation for a grid tie system linking to the power grid, and the lack of commitment from the Ontario Power Authority.
Before this announcement, it was costly and complex for a renewable energy producer to sell their energy. This will create opportunities for farmers, landowners, communities, aboriginal groups, business owners and the hobby energy producer to sell power back to the Ontario Power Authority at a fixed market price under the Ontario's Standard Offer Program. The Ontario Power Authority will pay 11 cents per kilowatt hour for energy produced from wind, biomass, hydroelectric and will pay 42 cents per kilowatt hour for energy produced from solar.
The Premier of Ontario, Dalton McGinty announced the new standards price for renewable energy produced in Ontario. Entrepreneurs and businesses can sell clean power produced from solar, wind, biomass, and hydroelectric systems back to the power grid. "We're taking a bold new step that will allow hundreds of small, local, renewable energy producers to get into the energy market -- providing cleaner energy that will help meet Ontario's needs today -- and in the future," said Premier McGuinty.
"Standard Offer contracts have been the fastest and most successful way of producing renewable energy throughout the world," said Premier McGuinty. "Encouraging communities to develop more renewable electricity will spur the kind of innovation in the energy sector that will help clean up our air, create jobs and contribute to our long-term prosperity."
The program is expected to produce 1,000 megawatts of renewable energy to Ontario's energy supply which will be enough to power 250,000 homes and reduces dependence on other energy sources, reduces air pollution, protects the environment and will create new jobs and opportunities.
Attending the announcement was world-renowned scientist Dr. David Suzuki who stated "Ontarians need a reliable power system that doesn't leave a legacy of economic or environmental debt. Today's announcement will revolutionize the market for clean, renewable energy in North America and lay the groundwork for a healthier, brighter future."
The Ontario Government has been proactive in the development of a clean, reliable, affordable and sustainable energy supply in Ontario and this initiative follows up on the commitment to generate five per cent of the energy produced, representing 1350 megawatts, through renewables by 2007. Last year they came close with 1300 megawatts produced from renewable sources.
Biomaxx Systems Inc. expects demand for biomass to electricity related products and our expertise in this field will present great opportunities to the company.
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