08:24 AM EST, 02/28/2025 (MT Newswires) -- Tidewater Renewables ( TDWRF ) on Friday said British Columbia's changes to the Low Carbon Fuels Act is a "good first step in levelling the unfair trade environment and supporting the economic viability of Tidewater Renewables ( TDWRF ) and the broader Canadian biofuels industry."

Tidewater said it remains dedicated to pursuing the countervailing and anti-dumping duty complaint to address unfairness in the Canadian renewable diesel market.

"As more renewable fuels produced in Canada become available, we expect the government of British Columbia to raise the Canadian-produced renewable fuel requirements to an appropriate level to ensure a fair-trade environment for renewable diesel and align policy with the broader goals of the Canadian biofuel sector," said Tidewater Renewables ( TDWRF ) Chief Executive Jeremy Baines.

Shares of the company closed down 1.6% at $0.63 on Thursday on the Toronto Stock Exchange.