Tidewater Renewables welcomes BC’s decision to use domestic biofuels for LCFS

In Canada, Tidewater Renewables Ltd., owner of Canada’s first renewable diesel refinery, welcomes the Government of British Columbia’s changes to the Low Carbon Fuels Act aimed at strengthening the Canadian biofuels sector.

The ability of US renewable diesel producers to dump their product into British Columbia and unfairly benefit from both a production subsidy received in the U.S. and the generation of emissions credits at the point of sale in British Columbia has created an unlevel and unfair trade environment for Canadian renewable diesel producers. The action taken by the Government of British Columbia represents a good first step in levelling the unfair trade environment and supporting the economic viability of Tidewater Renewables and the broader Canadian biofuels industry.

The announced changes to the Low Carbon Fuels Act, specifically the increase to the renewable fuel requirement for diesel from 4% to 8%, together with requiring such renewable fuel content to be produced in Canada which comes into effect on April 1, 2025, demonstrates the Government of British Columbia’s commitment to strengthening the Canadian biofuel sector. Tidewater Renewables will continue to work with both the Provincial and Federal governments to ensure appropriate and fair policies are in place to support the Canadian renewable fuels industry. In addition, the Corporation remains dedicated to pursuing the countervailing (anti-subsidy) and anti-dumping duty complaint (the “Complaint”) to address unfairness in the Canadian renewable diesel market. For more information on the Complaint, please refer to the Corporation’s press release issued on January 6, 2025.