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.