Calgary Company Secures $8M in Funding to Extract Protein from Canola, Pulses, and Hemp
Protein Industries Canada - a consortium of businesses, non-profits, and post-secondary institutions - was awarded $153 million from the Canadian government last November to partner with the private sector on plant-based protein projects. The first recipient of funding through this scheme is Calgary-based Botraneco Inc., a company that has developed a novel process for extracting protein and other ingredients from crops such as canola, pulses, and hemp.
Botraneco and its partners, Corteva Canada and Rowland Farms, will use the $8 million it has secured to further commercialize its technology and its R&D initiatives in the food, animal feed, and personal care markets. As part of this plan, Botraneco plans to open a food lab in Calgary later this year that will work on developing new cereals, bars, and meat and dairy substitutes, among others. It also will expand its aquaculture project 200 kilometers east of Calgary which is exploring using canola protein concentrates in fish feed.
The consortium notes that Canada is a leading global producer of high-protein crops such as canola, lentils, peas, chickpeas, and hemp, which are exported as raw commodities. However, through this funding scheme it is looking to advance higher-value processed goods, and to position Canada as a leader in high-quality plant protein.