EDMONTON—Alberta Innovates is on the hunt for companies looking to commercialize new bioindustrial products or technologies.
The organization’s Bio Solutions funding program is offering grants to companies looking to take advantage of the province’s abundant, renewable biomass resource with new products or technologies. It is offering a minimum $250,000, and up to $1 million for projects that need pilot or scale-up work, or prototype development that will be ready for the market within three years. Alberta-based companies are invited to apply by submitting a Letter of Intent.
“The market demand is evident,” said Steve Price, CEO of Alberta Innovates Bio Solutions, “but taking a new bioproduct from the lab bench to commercial production is risky and expensive for many companies. With our new Alberta Bio Future Product and Technology Commercialization program we aim to help companies bridge this gap with funding, advice, and connections.”
Bioindustrial products derived from agricultural or forest biomass are currently used in several sectors, ranging from areas such as personal care products, chemicals, the energy industry, construction and manufacturing. Alberta Innovates noted these products meet the world’s growing demand for green solutions, while demonstrating desirable qualities such as being strong, light-weight, or environmentally friendly.