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THUNDER BAY, ON, May 27, 2019 /CNW Telbec/ - FPInnovations
and Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today
announced the commissioning of a new TMP-Bio plant in Thunder Bay (Ontario). With the capacity to treat 100
metric tons of biomass annually, the bio-refinery pilot plant
produces lignin and sugars for use in the development of innovative
bio-products, such as wood adhesives, animal feed and composites.
The organizations joined forces in early 2018 to build the plant at
Resolute's Thunder Bay pulp and
paper mill, focusing on developing new ways to efficiently
manufacture and market innovative wood-based biochemical
products.
The inauguration was attended by Don
Rusnak, Member of Parliament, Thunder Bay – Rainy
River; Ross Romano,
Parliamentary Assistant to the Minister of Energy, Northern
Development and Mines of Ontario;
Bill Mauro, Mayor of Thunder Bay; Remi
Lalonde, Senior Vice President and Chief Financial Officer
of Resolute Forest Products; Stéphane Renou, President and Chief
Executive Officer of FPInnovations; Derek Nighbor, President and
CEO of Forest Products Association of Canada (FPAC); and many representatives of the
Canadian forest products industry.
The C$23 million project is part
of an initiative to renew and transform the forest products
industry, building on investments by Resolute, the Ontario Centre
for Research and Innovation in the Bio-Economy (CRIBE), and Natural
Resources Canada. The project also has the support of the Northern
Ontario Heritage Fund Corporation, FedNor, the Thunder Bay
Community Economic Development Commission and the Ontario Ministry
of Natural Resources and Forestry, in addition to contributions in
research and applications from the Québec Ministry of Forests,
Wildlife and Parks and the Nova Scotia Innovation Hub.
TMP-Bio is a patented technology developed by FPInnovations for
the commercial production of large quantities of bio-sourced
chemicals, such as high-quality cellulosic sugars and H-lignin, and
is a step towards opening up new markets for the forest products
sector within the biochemical products supply chain.
Quotes
"Congratulations to FPInnovations and Resolute Forest Products
on the official opening of the TMP-Bio plant. Ensuring our forestry
sector remains strong and viable is important to our local economy
and I'm pleased our government's investment of $7.8 million has helped to bring this
project to fruition. Northwestern
Ontario is a hub for forestry innovation, and I look forward
to seeing the results of this partnership and the positive impacts
it will have on our growing bio-economy."
Don Rusnak, Member of
Parliament for Thunder Bay –
Rainy River on behalf of
The Honourable Amarjeet Sohi, Minister of Natural Resources
Canada
"Our government is making Northern
Ontario open for business and open for jobs. We are
committed to working with the forestry industry to help the sector
innovate, create new opportunities and good-paying jobs in
communities across the province. This is an industry that
contributes $15 billion to
Ontario's economy. That is why we
are supporting projects like the TMP-Bio pilot plant and working
towards a new forestry strategy to open up the industry to
jobs."
Honorable John Yakabuski,
Ontario Minister of Natural
Resources
"I want to commend FPInnovations and Resolute Forest Products on
creating a unique partnership that helps our city, and the entire
region, continue to build a strong value added forestry sector as
well as a green economy. This project in its initial phases has
created a number of jobs and has the potential to become a key
employer in our region in the future. Where we are today is a
result of not only the foresight of the two key partners, but also
the support of the provincial and federal governments as well as
Lakehead University and CRIBE.
Congratulations and thank you to all involved in this very exciting
project."
Bill Mauro, Mayor of City of Thunder Bay
"What makes this project so exciting is the number of partners
who came together to make it happen. Canada has the potential to be a global
bio-economy powerhouse and collective, concerted initiatives like
these will move us into the future."
Derek Nighbor, President and CEO of Forest Products
Association of Canada
(FPAC)
"FPInnovations is proud to be part of a project that will allow
the Canadian forest industry to diversify its revenue streams while
demonstrating its ability to innovate and transform itself. This
project paves the way for a stronger bio-economy that will lead, in
collaboration with our partners, to clean solutions and
technologies that will benefit future generations. FPInnovations
would also like to thank Natural Resources Canada for the
additional funding announced today as part of their Clean Growth
Program."
Stéphane Renou, President and CEO of
FPInnovations
"Innovation is an integral part of Resolute's transformation
strategy and long-term competitiveness. By hosting the bio-refinery
at our Thunder Bay pulp and paper
mill, we are helping to develop sustainable bioproducts and to
generate new employment opportunities in the forest products
industry."
Yves Laflamme, President
and CEO of Resolute Forest Products
Cautionary Statements Regarding Forward-Looking
Information
Statements in this press release that are not reported financial
results or other historical information of Resolute Forest Products
Inc., its subsidiaries and affiliates are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. They include, for example, statements regarding
the expected benefits from the thermomechanical pulp bio-refinery
production. Forward-looking statements may be identified by the use
of forward-looking terminology such as the words "should," "would,"
"could," "will," "may," "expect," "believe," "anticipate,"
"attempt," "project" and other terms with similar meaning
indicating possible future events or potential impact on our
business or our shareholders.
The reader is cautioned not to place undue reliance on these
forward-looking statements, which are not guarantees of future
performance. These statements are based on Resolute's management's
current assumptions, beliefs and expectations, all of which involve
a number of business risks and uncertainties that could cause
actual results to differ materially. The potential risks and
uncertainties that could cause Resolute's actual future financial
condition, results of operations and performance to differ
materially from those expressed or implied in this press release
include, but are not limited to, any inability to achieve the
expected benefits from the thermomechanical pulp bio-refinery
production; and the potential risks and uncertainties described
under the heading "Risk Factors" in Part I, Item 1A of Resolute's
annual report on Form 10-K for the year ended December 31, 2018.
All forward-looking statements in this press release are
expressly qualified by the cautionary statements set out or
referred to above and in the Resolute's filings with the U.S.
Securities and Exchange Commission and the Canadian securities
regulatory authorities. Resolute disclaims any obligation to
publicly update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, except
as required by law.
About FPInnovations
FPInnovations is a not-for-profit world leader that specializes
in the creation of scientific solutions in support of the Canadian
forest sector's global competitiveness and responds to the priority
needs of its industry members and government partners. It is
ideally positioned to perform research, innovate, and deliver
state-of-the-art solutions for every area of the sector's value
chain, from forest operations to consumer and industrial products.
Its R&D laboratories are located in Québec City, Montréal, and
Vancouver, and it has technology
transfer offices across Canada.
For more information about FPInnovations, visit
www.fpinnovations.ca.
About Resolute Forest Products
Resolute Forest Products is a global leader in the forest
products industry with a diverse range of products, including
market pulp, tissue, wood products, newsprint and specialty papers,
which are marketed in close to 70 countries. The company owns or
operates some 40 facilities, as well as power generation assets,
in the United States and Canada. Resolute has
third-party certified 100% of its managed woodlands to
internationally recognized sustainable forest management standards.
The shares of Resolute Forest Products trade under the stock symbol
RFP on both the New York Stock Exchange and the Toronto Stock
Exchange. Resolute has received regional, North American and global
recognition for its leadership in corporate social responsibility
and sustainable development, as well as for its business practices.
Visit www.resolutefp.com for more information.
SOURCE FPInnovations