In 2006, the Toronto Zoo launched a clever initiative designed to turn all the animal dung they produce into a profit: a biogas energy generation facility. But when they launched a request for proposals last summer, they found no partners. The reason, according to Daniel Bida of Regenerate Biogas is that the plans were too ambitious, calling for too large a plant.
So Bida and a host of other community partners stepped in with a more modest proposal for a 500 kilowatt biogas facility to be owned and operated by a cooperative made up of community members. That proposal, formalized as ZooShare received approval in early June and is now seeking investors for its project.
The facility will divert waste from landfill while producing heat, water and usable fertilizer. The non-profit cooperative is selling membership bonds to finance the project that promise a 7% return on investment. Zoo members and those who live within a kilometer of the zoo can invest for $500, while other Ontarians can purchase $5,000 bonds.
Bida says that bond sales await the approval of financial authorities. The co-op plans to offer bonds for sale between September 2011 and May 2012, and to then immediately commence construction on the project. "The reception from the public so far has been overwhelmingly positive," Bida says. "People are attracted to it as an investment, as an environmental project, and as a way to help out the zoo. They just ask, how can I sign up."
Writer: Edward Keenan
Source: Daniel Bida, ZooShare