Ontario invests over $1m to turn poo into power
ZooShare has raised over $1 million (€790,000) for what is soon to be the first zoo-based biogas plant in North America. The plant will have a capacity of 500kW when it comes online in December 2015.
ZooShare bonds, which are being used to build the biogas plant, pay a return of 7% each year for seven years. The facility will convert animal manure from the Toronto Zoo and food waste from local supermarkets into biogas for the production of renewable power. The power will be sold to the Ontario grid, reducing greenhouse gas emissions by over 10,000 tonnes a year.
'We are grateful for the 150 investors who helped us reach $1 million,' says Daniel Bida, executive director of ZooShare. 'We reached this goal is less than a year, which exceeded our expectations, proving the market demand for sustainable high-impact investments. Together we can demonstrate the true value of organic waste.'