Emissions Reduction Alberta
INCA Awarded $10M Grant from Emissions Reduction Alberta for INCA BioCore™ – Hemp-based Substitute for Rainforest Balsa Wood and PET Foam for Composite Boats and Wind Turbines
The world’s first vertically integrated manufacturer of hemp-based composites for the automotive, marine, wind energy and consumer products industries.
INCA Renewtech will be building a 167,000 square foot fiber processing and composites manufacturing facility on an 18-acre industrial site in Vegreville, Alberta. Initially, the factory will include two full-scale decortication lines supplied by DILO Temafa, together with additional equipment for production of the Company’s patented BioCore and BioPlastics products. This facility will be the first vertically integrated natural fiber composites facility in the world. By 2030, INCA’s products will sequester 703 million kilograms of carbon.
INCA’s factory will be energy and resource efficient. It will generate zero waste or water pollution. The products produced here will replace petroleum-based plastics and balsa wood, helping to reduce plastics pollution and deforestation. Over the next ten years INCA will purchase over $43 million of hemp biomass, employ 270 people, and pay $51 million in provincial and federal taxes. By providing a secondary Income to farmers growing hemp for plant-based protein, INCA will mitigate agricultural risks and make hemp one of the most valuable cash crops in the Prairie.