INCA to receive up to $400K in grant funding for new manufacturing facility
by CM Staff
Both projects are funded through the Emerging Opportunities program under the Canadian Agricultural Partnership.
In partnership with the federal government, Alberta has awarded two grants totalling $900,000 to help grow the province’s hemp industry.
INCA, a hemp manufacturing company, will receive a grant of up to $400,000. INCA will use the funding to build a new $72-million hemp processing facility in Vegreville.
Blue Sky Hemp Ventures, a company involved in hemp whole plant utilization, will receive a grant of $500,000 to advance a proposed $75-million hemp food processing facility in Alberta.
“Alberta’s growing hemp industry is helping to build a strong agriculture sector that creates jobs and brings tremendous opportunities to communities across the province. By producing, processing and creating value-added products within the province, the hemp industry can remain sustainable and agile, while seizing new opportunities in domestic and export markets” said Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food.
“By purchasing hemp directly from Alberta’s farmers and processing it here in the province, these projects will mitigate production risks for producers and create new value-added hemp products that will help grow Alberta’s thriving hemp industry.” said Nate Horner, Minister of Agriculture, Forestry and Rural Economic Development.
“Today’s announcement is an example of a unique, high-impact investment that combines agri-tech, cleantech and innovation. Alberta’s welcoming business climate and hemp supercluster continue to position the province as a destination of choice for new and exciting investment opportunities as this industry continues to take root across Alberta.” said Rick Christiaanse, CEO, Invest Alberta.
As part of the venture, INCA will transform hemp fibre into natural fibre composites in Alberta for further manufacturing.
The new venture will also allow Blue Sky to scale up production of its cold pressed, purified hemp seed oil for use in cosmetic and food applications, and to scale up production of a hemp protein concentrate from the resulting meal.