The Government of Canada is investing in new technology that will result in new products for Canadians, more jobs for the community and new markets for farmers. Radient Technologies Inc. is receiving up to $1.1 million in repayable funding to help the company introduce a new technology for extracting valuable compounds from plants.
"The Government of Canada congratulates Radient as it opens its plant in Edmonton," said MP Mike Lake (Edmonton-Mill Woods-Beaumont) on behalf of Agriculture Minister Gerry Ritz. "This is a fine example of how our Government is delivering real action and making smart investments in the agriculture industry to boost local economies, create jobs and provide farmers with new revenue sources."
The new microwave-assisted processing technology (MAPTM) was developed, patented and licensed to the company by Environment Canada to make the process for extracting, purifying and isolating plant compounds better, faster and more environmentally friendly. It will allow the company to produce the high quality ingredients needed by manufacturers of specialty products like pharmaceuticals and cosmetics. The company will help clients find Canadian sources for the biomass they will be processing.
"We are grateful for this funding from Agriculture and Agri-Food Canada, which is helping us to create jobs and new economic opportunities for farmers," said David Cox, CEO of Radient Technologies Inc. "By celebrating the arrival of this promising new technology at the beginning of National Biotechnology Week, we are showing Canadians the importance of agricultural innovation."
The Agri-Opportunities program is a $134 million five-year program to improve the competitiveness and prosperity of farmers by supporting new innovative agriculture products, processes or services in Canada.
