$8 million to be invested to create new processing techniques for canola and hemp
CALGARY, June 26, 2019 /CNW/ - Today, at Botaneco Inc., Protein Industries Canada announced its first investment into an innovative project with potential to transform the plant protein sector in Canada.
A total of $8 million, comprised of $4 million of co-investment from Protein Industries Canada and $4 million from industry, will be invested into the project over the next two years.
Led by Botaneco Inc, in partnership with Corteva Canada and Rowland Farms, the project will work to commercialize a new processing technology that will yield a variety of new oil and protein products. Using crops such as canola and hemp, the project will introduce new high-protein ingredients into the global food, feed and aquaculture markets.
"This is an exciting day for Protein Industries Canada as we make our first project investment," CEO of Protein Industries Canada Bill Greuel said. "This represents a significant milestone as a Supercluster, and we are thrilled to have worked with the consortium and co-invest into a project that will drive innovative processing and bring new opportunities for feed and food manufacturers."
This project has the potential to open new markets for new canola and hemp products which are functional, natural and clean-label. Securing new markets with high-value products will contribute to a more robust processing sector, while creating jobs in manufacturing, food science applications and commercial leadership.
"The Protein Supercluster is just getting started transforming the industry and creating good jobs for Canadians for years to come," Minister of Innovation, Science and Economic Development Navdeep Bains said. "As Canada positions itself to meet global demand for plant-based proteins, this project is going to help foster new and innovative processing technologies that will increase the value of key Canadian crops popular in foreign markets."
"Botaneco is very excited about the potential of our novel oilseed processing platform," Botaneco CEO James Szarko said. "The Protein Industries Canada co-investment will allow us to expand our internal research capacity and contribute to the building of a Prairie proteins ecosystem with our consortia partners and key public research institutions. This investment will greatly accelerate our development timelines; opening new, high-value markets for Canadian oilseed crops."
"It's rewarding to see the first investment in the Protein Industries Supercluster take place," said Tyler Groeneveld, North American Commercial Grains and Oils Leader at Corteva. "We are excited to work with best-in-class partners like Botaneco through innovative and strategic programs such as Canada's Supercluster Initiative to create end-use opportunities for high protein canola beyond traditional feed use. We are excited about new, high-value markets and unlocking untapped value in feed, food and consumer care, providing a model in Canadian agriculture for value-chain partnerships."
Protein Industries Canada's first call for proposals closes June 28, creating a project pipeline to achieve the goals of the Supercluster and to position Canada as a global source of high-quality plant protein products and co-products. A second call for projects will close on September 13, 2019.
About Protein Industries Canada
Protein Industries Canada is one of Canada's five Superclusters, created to position Canada as a leading global source of sustainable, high-quality plant protein and plant-based co-products. Over the next four years, Protein Industries Canada will invest up to $153 million, made available by the Government of Canada's Innovation Superclusters Initiative.
About Botaneco Inc.
Botaneco was formed in 2014, based on commercializing an innovative oilseed processing technology platform. The company strategy brings a novel approach to producing new lipid and protein products which will sell for higher values and open new markets for Canadian oilseed crops. We intend to create an adjacent space to the existing oilseed processing industry, creating new value and economic benefits for Canadian agriculture. The company is based in Calgary, Alberta.
About Rowland Farms
Rowland Farms is one of Canada's leading producers of organic and non-GMO grains, pulses and oilseeds. In addition to its farming operations encompassing 40,000 irrigated and dryland acres, this 35-year-old family business adds value through primary processing at its four facilities in Southern Alberta, producing high quality food, feed, and fiber products for Canadian, American and Asian customers. Headquartered in Taber, Rowland Farms has grown industrial hemp for over twenty years; as one of the largest hemp growers in North America, its active applied research program for hemp agronomy, harvesting, and processing is focused on value creation.
SOURCE Protein Industries Canada
For further information: Tiffany Stephenson, Protein Industries Canada, 306-519-8202, email@example.com