Latest news with #BMIGroup
Cision Canada
15-05-2025
- Business
- Cision Canada
BMI Group Launches Abitibi Connex to Advance Northern Ontario's Growing Logistics Infrastructure
IROQUOIS FALLS, ON, May 15, 2025 /CNW/ - Leading development company, BMI Group, has launched Abitibi Connex, a strategic initiative to redevelop the historic Abitibi Paper Mill in Iroquois Falls into a multimodal hub, expanding northern Ontario's growing logistics infrastructure. Advantageously located along major northern shipping routes and offering direct rail access, Abitibi Connex will serve as a logistics base for organizations in the natural resources, agriculture, and food sectors. The team has already secured an anchor tenant who will use the site to support large-scale construction projects in northern Ontario. Abitibi Connex builds on the site's substantial existing infrastructure, which includes 144,000 square feet of warehouse space, eight loading docks, storage silos, two rail bays with direct access, and more than 838 hectares of land primed for industrial, agricultural, and forestry development. "We've had people ask us, 'why now?'" said John Veldman, Chief Operating Officer of BMI Group. "For a long time, the market lacked the drive to invest in idled assets. That's changed. Today, industrial sites with multimodal capabilities are key to strengthening Canada's supply chain resilience." Since acquiring the site in 2016, BMI has been ready-stating the property, which includes restoring power and upgrading buildings. In September 2024, the project was catalyzed by a $20 million investment from the Northland Participation Fund, a partnership between BMI and Dutch investment group Business EQ. Ontario Northland will upgrade the 11.5 km rail line from Porquis Junction to Iroquois Falls. "We are delighted to support this initiative with track upgrades and look forward to providing BMI's Abitibi Connex with rail services," says Chad Evans, Chief Executive Officer of Ontario Northland. "This investment will enhance connectivity and support economic development for Iroquois Falls and businesses throughout the region." The site is being developed in close collaboration with the Town of Iroquois Falls and J.L. Richards & Associates, who lead the master planning process for the former mill and surrounding lands. "Iroquois Falls is proud to partner with BMI. This innovative use of the mill as a logistics base will attract investment, businesses, and jobs to our community," said Tory Delaurier, Mayor of Iroquois Falls. With its strategic location and robust infrastructure, Abitibi Connex is poised to become a critical component of northern Ontario's growing logistics infrastructure.
Yahoo
15-05-2025
- Business
- Yahoo
BMI Group Launches Abitibi Connex to Advance Northern Ontario's Growing Logistics Infrastructure
IROQUOIS FALLS, ON, May 15, 2025 /CNW/ - Leading development company, BMI Group, has launched Abitibi Connex, a strategic initiative to redevelop the historic Abitibi Paper Mill in Iroquois Falls into a multimodal hub, expanding northern Ontario's growing logistics infrastructure. Advantageously located along major northern shipping routes and offering direct rail access, Abitibi Connex will serve as a logistics base for organizations in the natural resources, agriculture, and food sectors. The team has already secured an anchor tenant who will use the site to support large-scale construction projects in northern Ontario. Abitibi Connex builds on the site's substantial existing infrastructure, which includes 144,000 square feet of warehouse space, eight loading docks, storage silos, two rail bays with direct access, and more than 838 hectares of land primed for industrial, agricultural, and forestry development. "We've had people ask us, 'why now?'" said John Veldman, Chief Operating Officer of BMI Group. "For a long time, the market lacked the drive to invest in idled assets. That's changed. Today, industrial sites with multimodal capabilities are key to strengthening Canada's supply chain resilience." Since acquiring the site in 2016, BMI has been ready-stating the property, which includes restoring power and upgrading buildings. In September 2024, the project was catalyzed by a $20 million investment from the Northland Participation Fund, a partnership between BMI and Dutch investment group Business EQ. Ontario Northland will upgrade the 11.5 km rail line from Porquis Junction to Iroquois Falls. "We are delighted to support this initiative with track upgrades and look forward to providing BMI's Abitibi Connex with rail services," says Chad Evans, Chief Executive Officer of Ontario Northland. "This investment will enhance connectivity and support economic development for Iroquois Falls and businesses throughout the region." The site is being developed in close collaboration with the Town of Iroquois Falls and J.L. Richards & Associates, who lead the master planning process for the former mill and surrounding lands. "Iroquois Falls is proud to partner with BMI. This innovative use of the mill as a logistics base will attract investment, businesses, and jobs to our community," said Tory Delaurier, Mayor of Iroquois Falls. With its strategic location and robust infrastructure, Abitibi Connex is poised to become a critical component of northern Ontario's growing logistics infrastructure. *Abitibi Connex is owned by Iroquois Falls Development Inc., a subsidiary of the BMI Group. Learn more about Abitibi Connex on our website: SOURCE BMI Group View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
02-05-2025
- Business
- The Market Online
The BMI Group to partner with and invest in CHAR Technologies
The BMI Group, a leading real estate and business developer, will invest C$2 million into CHAR Technologies (TSXV:YES), a sustainable energy solutions provider, through a non-brokered private placement The companies will collaborate on expediting biocarbon production at CHAR's Thorold facility in Ontario CHAR Technologies processes waste from wood, agriculture and other organic sources into renewable natural gas, green hydrogen and a carbon-neutral biocarbon that replaces metallurgical steel-making coal CHAR Technologies stock has given back 39.19 per cent year-over-year but remains up by 125 per cent since 2020 The BMI Group, a leading real estate and business developer, will invest C$2 million into CHAR Technologies (TSXV:YES), a sustainable energy solutions provider, through a non-brokered private placement. The investment coincides with a binding letter of intent between the companies to accelerate commercial biocarbon production at CHAR's Thorold facility in Ontario, which is expected to be built by Q4 2025. As per the agreement, BMI Group will also acquire project-level ownership in the Thorold facility and will be granted the right to nominate a director to CHAR's board. The BMI Group is the largest owner and redeveloper of end-of-use paper mills in Ontario, including the Bioveld Niagara Multimodal Hub, where the Thorold facility is located, as well as Bioveld North in Espanola in the province's wood fibre basket, where the companies will co-develop a new renewable energy facility. According to Friday's news release, the financing is expected to close by May 9, 2025. Leadership insights 'By investing in innovative companies like CHAR Technologies and revitalizing assets such as Bioveld North and Niagara, we're putting wood fibre back to work in next-generation applications,' Paul Veldman, The BMI Group's chief executive officer (CEO), said in a statement. 'We see significant long-term opportunity in our partnership with CHAR Technologies, as The BMI Group continues to invest in the strategic retooling of industrial sites across Canada.' 'This partnership marks a pivotal milestone in advancing biocarbon production at our CHAR Tech Thorold facility,' added Andrew White, CEO of CHAR Technologies. 'With The BMI Group's infrastructure expertise, we are positioned to accelerate project delivery and generate strong returns for our investors. This collaboration also opens the door to further opportunities already in development—most notably, the tremendous potential we see in Espanola.' About CHAR Technologies CHAR Technologies' pioneering temperature pyrolysis technology processes waste from wood, agriculture and other organic sources into renewable natural gas, green hydrogen and a carbon-neutral biocarbon that replaces metallurgical steel-making coal. CHAR Technologies stock (TSXV:YES) opened with a gain of 2.27 per cent trading at C$0.22. The stock has given back 39.19 per cent year-over-year but remains up by 125 per cent since 2020. Join the discussion: Find out what everybody's saying about this renewable energy stock on the CHAR Technologies Ltd. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
