Investing in bio-resin
Jun. 4, 2013, Leamington, ON - The Canadian Government is enabling a company to commercialize a “green” bio-plastic, using innovative technology that was developed at the University of Guelph, MP Dave Van Kesteren (Chatham-Kent-Essex), on behalf of Agriculture Minister Gerry Ritz.
Competitive Green Technologies received a repayable contribution of $360,000 from the Agricultural Innovation Program (AIP) to purchase and install equipment to produce biopolymer resin compounds from non-food biomass fibres. These compounds are to be used as input for the plastic moulding industry to make products such as bins and flower pots. The technology to formulate bio-resins was developed by the Bioproducts Discovery and Development Centre at the University of Guelph and the company has acquired a 10-year exclusive licence in North America.
"This investment has facilitated the commercialization of the first Canadian grown agricultural fibres based bio-composites for consumer markets. It is truly a harbinger of the development of a local bio-economy -- close to where the ag fibers are grown,” says Mike Tiessen, President of Competitive Green Technologies. “It will set the stage for agri-innovation and help Canadian agriculture to integrate with the manufacturing sector, improve environmental sustainability and support an emerging bio-economy."
This project was supported through the Agricultural Innovation Program—a $50-million initiative announced under Canada’s Economic Action Plan 2011. This program was part of the Government’s commitment to help Canadian producers benefit from cutting-edge science and technology and came to an end on March 31, 2013.For more information on this agreement and the new AgriInnovation Program, please visit www.agr.gc.ca/growingforward2.