Biomaterials researcher scientists to benefit from Bank of Montreal’s sizeable donation
In the midst of general financial woes, some University of Guelph researchers stand to benefit from a generous monetary donation by the Bank of Montreal.
BMO Financial Group is investing $1.25 million in biomaterials research and the university’s efforts to turn crops into green products. The donation will aid in the effort to sustain and grow the agricultural bio-economy.
Researchers at the university’s Bioproducts Discovery and Development Centre (BDDC) are using corn, wheat, soy, and other crops to make car parts, furniture, and building materials. The goal is to find renewable, eco-friendly alternatives to petroleum-based materials in the manufacturing and consumer goods.
President Alastair Summerlee said that “the support from BMO will allow our researchers to continue to revolutionize the use of plant materials…[and] will ensure that the University of Guelph retains its position as the global leaders in this field.”
The donation made by BMO will help expand the BDDCs research and commercialization facilities and help procure additional cutting-edge research equipment. The investment will go a long way in aiding in the manufacture of higher-quality green products.
Susan Brown, Senior Vice President of the Ontario Regional Division of the BMO Bank of Montreal, explained that “BMO has a deep relationship with the agricultural community, and this donation will help solidify the University of Guelph as a major center for agricultural research across the country.”
Currently, the Ontario Agricultural College (OAC) at the University of Guelph is recognized as Canada’s largest and most renowned agricultural college. The OAC is a global leader in education, research, and service in agricultural and environmental sciences. The BMO donation is intended to spur the evolution of biomaterials research and enhance the value of Ontario’s agriculture sector.
This is not the first large-scale monetary donation made by the Bank of Montreal. BMO has engaged in philanthropic activities since 1817, the year it was founded, and has supported the University of Guelph on numerous campaigns since 1969.
In honour of the donation, the university plans to name Phase II of the BDDC, currently nearing completion, the BMO Bioproducts Innovation Extension.
The donation is part of the university’s BetterPlanet Project fundraising campaign, which has endeavored to raise $200 million for teaching, research, and student support. Past contributors to the project include Scotiabank who, in 2012, donated $500,000 for scholarships to the College of Management and Economics.
The BetterPlanet Project has accumulated $166 million of its $200 million fundraising goal. With the help this most recent donation from BMO, the administration is fully expecting to reach its target in time for the university’s 50th anniversary in 2014.