- Urbana Corporation is expanding its technology portfolio by investing in Integrated Grain Processor Co-operative Inc
- The company purchased 1,400,999 Class E preferred shares of Integrated Grain
- That amount represents 12.78 per cent of the equity of Integrated Grain Processors Co-operative
- Integrated Grain is Canada’s largest cooperatively owned fuel ethanol producer.
- Urbana Corporation is down 4.14 per cent on the day, with shares of the company trading at C$3.01 at 11:08 am ET
Urbana Corporation is expanding its technology portfolio by investing in Integrated Grain Processor Co-operative Inc.
The company purchased 1,400,999 Class E preferred shares of Integrated Grain.
That amount represents 12.78 per cent of the equity of Integrated Grain Processors Co-operative.
Integrated Grain is Canada’s largest cooperatively owned fuel ethanol producer.
Urbana previously purchased C$1 million in Integrated Grain’s seven per cent debentures maturing July 31st, 2023.
Urbana’s investment in Integrated Grain supports Ontario farmers and the rural Ontario economy and funds the reduction of fossil fuel emissions.
It also boosts Urbana’s tech portfolio.
“As one of the most environmentally advanced fuel ethanol producers in North America, IGPC is important in the effort to reduce emissions from fossil fuels. We are very excited about Urbana’s investment in IGPC and the possibilities for its recent plant expansion as travel becomes realistic again,” said ,” said Urbana Chairman Thomas S. Caldwell.
Integrated Grain Processor distills ethanol to blend with gasoline, reducing carbon emissions from fossil fuels. It recently completed a significant expansion that doubled its ethanol production capacity to 380 million litres annually.
Urbana Corporation is a diversified corporation with a focus on financial services, information services and innovative technologies.
Urbana Corporation is down 4.14 per cent on the day, with shares of the company trading at C$3.01 at 11:08 am ET.
