INCA Renewtech funded $10M for Alberta hemp-based composites facility
Emissions Reduction Alberta (ERA) is putting $10 million into INCA Renewtech’s hemp fibre processing and composites manufacturing facility under construction in Vegreville, Alta.
The funding was announced as part of a $58 million investment from ERA in 10 projects across the province that advance the circular economy.
INCA is spending $174.5 million to build at 167,000 square foot factory with two full-scale decortication lines supplied by DILO Temafa. The facility will produce patented BioCore and BioPlastics products.
“This funding will enable INCA Renewtech to significantly accelerate construction of our state-of-the-art hemp processing and composites manufacturing factory. We will purchase waste straw from farmers currently growing hemp for plant-based protein and transform this renewable resource into advanced bio-composites for the automotive, marine, wind energy, and consumer plastics industries,” Davd Saltman, chairman and CEO of INCA Renewtech, said in an ERA news release.
Learn more about the project here.