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DELAWARE, ON - Stemergy Renewable Fibre Technologies, a leader in the renewable biofibre sector, has secured a $3.3 million commitment from the Ministry of Research and Innovation to scale up the Company's BioFibeRefinery(TM) technology.
Stemergy was formed in 1994, and in that same year became the first company to grow industrial hemp since the 1940's. The Company has successfully operated a large R&D facility at Delaware, Ontario since 1998. The BioFibeRefinery(TM) technology is the culmination of years of work for making biofibre materials from plants such as hemp and flax.
In the era of record oil and energy prices, using plants to efficiently and quickly convert solar energy and green house gases into valuable materials makes economic sense.
"We are in a new environmental and economic paradigm and renewable materials will continue to replace non-renewable resources in wide ranging applications. Our BioFibeRefinery(TM) technology is a complete system from plant genetics through to wide spread distribution of our biofiber materials."
"We source locally grown plant stems, that are fractionated and refined using our technology, and the resulting biofibres are supplied to large global markets which include replacing plastics and fiber glass for making composites. Stemergy's future growth prospects look extremely positive." commented Geofrey Kime, P.Eng., Stemergy's President and COO.
The bioproducts industry is expected to exceed $125 billion in revenues, globally, by the year 2010.
The total project budget is $10 million, and Stemergy is pursuing the balance of the funding from financing partners interested in participating in the fast growing renewable and bioproducts industry.
Source: CNW Group
Copyright: 2008, CNG Group
Contact: Geofrey Kime
Website: CNW Group | STEMERGY RENEWABLE FIBRE TECHNOLOGIES | Stemergy Secures $3.3 Million Commitment for Hemp Processing Technology from Ontario Government
Stemergy was formed in 1994, and in that same year became the first company to grow industrial hemp since the 1940's. The Company has successfully operated a large R&D facility at Delaware, Ontario since 1998. The BioFibeRefinery(TM) technology is the culmination of years of work for making biofibre materials from plants such as hemp and flax.
In the era of record oil and energy prices, using plants to efficiently and quickly convert solar energy and green house gases into valuable materials makes economic sense.
"We are in a new environmental and economic paradigm and renewable materials will continue to replace non-renewable resources in wide ranging applications. Our BioFibeRefinery(TM) technology is a complete system from plant genetics through to wide spread distribution of our biofiber materials."
"We source locally grown plant stems, that are fractionated and refined using our technology, and the resulting biofibres are supplied to large global markets which include replacing plastics and fiber glass for making composites. Stemergy's future growth prospects look extremely positive." commented Geofrey Kime, P.Eng., Stemergy's President and COO.
The bioproducts industry is expected to exceed $125 billion in revenues, globally, by the year 2010.
The total project budget is $10 million, and Stemergy is pursuing the balance of the funding from financing partners interested in participating in the fast growing renewable and bioproducts industry.
Source: CNW Group
Copyright: 2008, CNG Group
Contact: Geofrey Kime
Website: CNW Group | STEMERGY RENEWABLE FIBRE TECHNOLOGIES | Stemergy Secures $3.3 Million Commitment for Hemp Processing Technology from Ontario Government
