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ZooShare awarded contract to sell “poo power” into Ontario grid

Canada NewsWire

TORONTO, July 4, 2013

TORONTO, July 4, 2013 /CNW/ – ZooShare Biogas Co-operative Inc. is very  pleased to announce that it has received a Feed-in Tariff (FIT) contract offer  from the Ontario Power  Authority for its 500-kilowatt biogas plant, to be built at the Toronto Zoo in 2014. This represents a major  milestone for ZooShare, which will be unique in North  America for generating renewable electricity from zoo animal manure and  food waste.

ZooShare is funding the project through the sale of bonds to Ontarians who  want to help the environment, support the Zoo, and at the same time make a  healthy return on their investment. The bonds pay 7% per year for 7 years, but  purchasers need to be a co-op member to get them.  Membership costs $100, and those who join the co-op before September  1 will get $100 off the first bond  purchased, essentially making membership free.

Each year, Canada’s first co-operatively owned biogas plant will turn the  Zoo’s manure output (equal to the weight of 15 pandas!) and food waste from  grocery stores around the Greater Toronto Area  into enough clean, renewable electricity for 250 homes. Resulting emission  reductions are equivalent to removing 2,100 cars from the road, and annual  contributions to the Zoo will total at least $50,000.

To date, ZooShare’s 127 members have invested $460,000 and the co-op has secured $172,000 in grant funding from the Community  Energy Partnership Program and the Toronto Community Foundation.

“The ZooShare Biogas partnership will incorporate a unique community funding  model that will showcase waste management best practices to the public. This  closely aligns with the Toronto Zoo’s education  and sustainable environmental programs,” said John Tracogna, Chief Executive  Officer of the Toronto Zoo.

“The Zoo is proud to be part of a such an exciting, innovative project,” said  Joe Torzsok, Chairman of the Toronto Zoo.  “Reducing the Zoo’s carbon footprint while creating new revenue streams and  reducing costs is a win-win. We looking forward to ZooShare bringing this  project to fruition.”

“ZooShare started in late 2010 with the idea that a group of individuals  could invest in a local project to turn manure and locally produced organic  waste into usable energy, while earning above average returns and creating  positive environmental change,” said Daniel Bida, Executive Director of  ZooShare. “We would not be here today if it were not for the belief of the Toronto Zoo, our members, investors, staff,  directors, volunteers, suppliers, and friends in that idea.”

About ZooShare Biogas Co-operative ZooShare Biogas Co-operative  Inc. is a non-profit renewable energy co-operative developing a 500 kW biogas  plant on the grounds of the  Toronto Zoo.

ZooShare’s mission is to, through education and investment, be a catalyst for  the growth of community-owned biogas plants.

www.zooshare.ca www.facebook.com/zooshare www.twitter.com/zooshare

SOURCE: ZooShare Biogas Co-operative Inc.

Read more:  http://www.digitaljournal.com/pr/1342663#ixzz2YCLLXnqr

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