Burnaby agriculture research company Diacarbon Energy Inc. won the B.C. Bioenergy network prize at the British Columbia Innovation Council's New Ventures Competition.
The company was awarded $20,000 for the win, and also tied in the competition for second prize in the Shildroth Agritech Innovation category, winning another $10,000.
The awards ceremony took place Thursday evening in Vancouver.
"Congratulations to all 15 finalists for advancing to the final round of this year's BCIC-New Ventures Competition," said Mark Payne, acting CEO of BCIC, in a press release. "These companies join an impressive list of more than 1,200 program alumni who collectively have raised over $100 million in financing and created in excess of 600 jobs for British Columbians."
Diacarbon shared the Shildroth Agritech Innovation award with KOK Technologies.
BCIC-New Ventures is one of North America's biggest technology business idea competitions.
Diacarbon was the only Burnaby company in the top 25.
Jerry Ericsson, Diacarbon's president and co-founder, has studied and worked in biological agricultural applications for the past eight years
"I think it's great," Ericsson told the Burnaby NOW in a phone interview after making the third round of the competition. "There were nearly 200 other companies who went for it."
Since the company's inception in 2009, Ericsson has been leading business development and fundraising initiatives to commercialize carbon-neutral fuels from biomass, as well as biochar soil conditioners, for agricultural applications.
Biochar is charcoal created by decomposing biomass, which is organic material from living and dead plants and animals.
"We're doing something new that has a positive impact on the environment," Ericsson explained.
The company is looking to provide technology to convert waste biomass into value-added products in small to medium-sized renewable energy plants, biomass refineries.
The biomass waste (manure) or raw biomass (wood fibre, agricultural residues) is converted into three fuel types: Liquid bio oil, solid biochar and synthesis gas (mix of combustible gases).
Diacarbon started as a research company to investigate the effects of biochar in the soil.
"The company then entered the Agricultural Technology competition hosted by the B.C. Innovation Council, and won a $10,000 voucher to prepare a business plan, according to the company's website.
"We have since completed assembly of a 1.3-ton/hour biomass refinery and are eager to begin production of carbon neutral fuels and biochar soil amendments from biomass waste."
In April, Diacarbon was awarded $37,000 from the British Columbia Institute of Technology's commercialization fund, part of the school's commercialization assistance program.
