Alberta Government Invests in Hemp Processing Plants

by | Apr 21, 2022 | Business, Funding, Hemp

Two companies have received grants to build hemp processing plants in Alberta, an April 21 news release says. The funding is in partnership between the provincial and federal governments.

“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,” Marie-Claude Bibeau, federal minister of agriculture, forestry and rural economic development, says in the release.

INCA, a globally recognized 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, Alta., the release says.

INCA will transform hemp fibre into natural fibre composites in Alberta for further manufacturing. The facility will create demand for 54,000 tonnes of hemp biomass per year, adding $270 million in additional farm income over 25 years, the release notes. The project will create more than 70 new high-value manufacturing jobs.

Blue Sky Hemp Ventures, a global leader in hemp whole plant utilization, will receive a grant of $500,000 to advance a proposed $75-million hemp food processing facility in Alberta.

“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,” Nate Horner, provincial minister of agriculture, forestry and rural economic development, says in the release.

The release notes both projects are funded through the Emerging Opportunities program under the Canadian Agricultural Partnership.

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