DELAWARE, ON, May 28 /CNW/ - Stemergy Renewable Fibre Technologies, a
leader in the renewable biofibre sector, has secured a $3.3 million commitment
from the Ministry of Research and Innovation to scale up the Company's
Stemergy was formed in 1994, and in that same year became the first
company to grow industrial hemp since the 1940's. The Company has successfully
operated a large R&D facility at Delaware, Ontario since 1998. The
BioFibeRefinery(TM) technology is the culmination of years of work for making
biofibre materials from plants such as hemp and flax.
In the era of record oil and energy prices, using plants to efficiently
and quickly convert solar energy and green house gases into valuable materials
makes economic sense.
"We are in a new environmental and economic paradigm and renewable
materials will continue to replace non-renewable resources in wide ranging
applications. Our BioFibeRefinery(TM) technology is a complete system from
plant genetics through to wide spread distribution of our biofiber materials."
"We source locally grown plant stems, that are fractionated and refined
using our technology, and the resulting biofibres are supplied to large global
markets which include replacing plastics and fiber glass for making
composites. Stemergy's future growth prospects look extremely positive."
commented Geofrey Kime, P.Eng., Stemergy's President and COO.
The bioproducts industry is expected to exceed $125 billion in revenues,
globally, by the year 2010.
The total project budget is $10 million, and Stemergy is pursuing the
balance of the funding from financing partners interested in participating in
the fast growing renewable and bioproducts industry.
For further information:
For further information: Geofrey Kime, Telephone: (519) 652-0440,