BMI Group has officially completed its purchase of the former Espanola pulp and paper mill, marking a new chapter for the Northern Ontario site.
The property will now operate as Bioveld North Inc., a new hub dedicated to advancing energy and bioeconomy innovation.
Bioveld North will complement Bioveld Niagara, BMI’s existing Energy Innovation and Enterprise Park, by leveraging the site’s extensive infrastructure and proximity to rich regional wood-fibre resources.
“Legacy infrastructure can be re-tooled for next-generation applications, and at Bioveld North, we see many opportunities to put wood back to work,” said Paul Veldman, CEO of BMI Group. He noted ongoing collaboration with CHAR Technologies and other bio-based partners to explore renewable energy and materials development.
Securing Energy and Jobs
The acquisition covers 8,823 acres, including the main mill site, surrounding lands, several dams, and a golf course. It has received all necessary approvals from the Ontario Energy Board (OEB) and the Independent Electricity System Operator (IESO).
BMI will retain the employees currently operating the hydro dam through its energy subsidiary, Penstock Power LP. “The team’s continued professionalism and expertise will help ensure the facility’s meaningful contribution to Ontario’s renewable energy supply,” Veldman said.
Focus on Indigenous and Community Partnerships
BMI has emphasized a collaborative approach to redevelopment, holding discussions with Sagamok First Nation and Whitefish River First Nation, with plans to engage additional Indigenous communities.
“Our objective is to ensure that the redevelopment aligns with shared goals and delivers sustainable, long-term benefits for the region,” said Darrin Spence, BMI’s Director of Indigenous Initiatives.
The Town of Espanola also welcomed the transition. “The redevelopment of the mill site marks a new chapter for Espanola,” said Mayor Douglas Gervais. “We look forward to working together to attract investment, create jobs, and build a strong future for our town.”
A Platform for Growth
Bioveld North joins BMI’s growing portfolio of revitalized industrial properties across Ontario and Quebec, supported by Netherlands-based Business EQ Investments. With its scale, connectivity, and access to natural resources, Bioveld North is poised to become a cornerstone of sustainable industrial growth in Northern Ontario.
Bioveld North Inc. is an innovation and industrial redevelopment hub based in Espanola, Ontario. Created by BMI Group, the project focuses on advancing renewable energy, bio-based manufacturing, and sustainable industry through the adaptive reuse of legacy pulp and paper infrastructure. Positioned near abundant regional fibre resources, Bioveld North aims to become a catalyst for bioeconomy growth in Northern Ontario.
