[YARMOUTH, NS] — IMO Foods Ltd. has received a $200,000 repayable loan through the Atlantic Canada Opportunities Agency to undertake a heat recovery project to reduce energy costs in its canning operation.
ACOA will provide the company with a repayable loan of $200,000 under its Business Development Program so it can undertake a heat recovery project. Heat will be extracted from the cold storage and combined with the heat from refrigeration equipment will produce 138 kW on a continuous basis to reduce energy costs.
“This project is part of an ongoing process by IMO to reduce the overall costs of operation and increase productivity with a goal to maintaining quality and the company’s place in world markets,” said Philip LeBlanc, president and general manager.
IMO markets canned herring and mackerel products worldwide and employs 75 full-time workers.