Cascades will use technology from Quebec-based solar thermal processes developer Rackam
Cascades, Inc. (TSE:CAS, Mkt cap 614.77M, P/E 38.73, Div/yield 0.04/2.45, EPS 0.17, Shares 94.15M), is a Canada-based company specializing in the recovery and manufacturing of green packaging and tissue paper products. The company announced plans to install a $1.1 million concentrated solar power (CSP) unit that will supply its tissue and board facilities in Kingsey Falls with the hot water required for the production process.
The 1,490-square-meter system will be built on an area of 4,000 square meters. The company broke ground for the facility at a ceremony held on 9 June, saying it will be the first pulp and paper company to use CSP technology as part of the manufacturing process.
With the technology, sourced from Quebec-based solar thermal processes developer Rackam, Cascades aims to limit the amount of natural gas it uses to produce hot water. The lower consumption of natural gas will translate into lower harmful gas emissions, with annual reductions pegged at over 265 tons of CO2 equivalent.
The system will generate 4,440 GJ of heat a year that will be used to increase the temperature of pressurized water to 118°C from 106°C at present, saving the company 139,700 cubic meters of gas annually.
The project has received support from Quebec’s department of energy and natural resources, which will grant $463,000 for its implementation through the former Programme d’aide à l’innovation en énergie (PAIE), now part of the local government’s energy efficiency Technoclimat program. Another $76,000 will come from energy company Gaz Métro, which will provide the funds through its Innovation program.
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