The Canada Infrastructure Bank is making its first investment to complete the joint venture project between Shell, Suncor Energy, the Swiss natural gas company Proman, and the Government of Quebec. It is thus investing $277 million in the biofuel facility under construction in Varennes.

C Known as Varennes Carbon Recycling, the biofuel facility under construction in Varennes will cost a total of $1.2 billion. The project, which was first announced in 2020, will be, according to the President and CEO of the Canada Infrastructure Bank, Ehren Cory, the largest biofuel facility in the country when it is completed in 2025. The plant will also incorporate one of the world's largest electrolyzers, which will split water molecules into oxygen and green hydrogen for use in its biofuel manufacturing process.