Article content

CALGARY – A little-known, TSX-Venture listed company plans to tear down a refinery that has sat idle for 17 years and rebuild it as a re-refinery, making it the first used oil refinery in Alberta.

Gen III Oil Corp. announced Wednesday that it had inked a 20-year lease with Calgary-based Parkland Fuel Corp. for land in Bowden, Alta. where Parkland owns an inactive oil refinery along the highway between Calgary and Edmonton.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Junior energy company investing $90 million to rebuild idle Alberta oil refinery Back to video

The company plans to begin construction on its 2,800-barrels-per-day re-refinery this summer and commission the facility in the first quarter of 2019 – making it the first re-refinery on the Prairies and just the third in Canada after a facility in North Vancouver and another in Kitchener, Ont.

“We’re taking a waste product, what is chemical garbage, we’re taking that and re-refining it, cleaning it up,” Gen III president and CEO Greg Clarkes said, adding that used oil can be recycled six times. “What would otherwise go down the drain can be used again and again,” he said.