In Prince Edward Island, Natural Products Canada has invested $1.7 million in several Canadian bioeconomy companies that represent “highly innovative biobased and natural products.”
ALT-PRO Advantage will receive $75,000 to create pet food with alternative proteins from microalgae. Bio Sun Solutions will receive $283,629 to advance a herbal biofungicide for crops such as tomatoes, while Black & Blue Foods is set to receive $19,400 for a natural pain and inflammation relief ingredient. Chinova Bioworks will receive $350,000 for a natural antimicrobial ingredient from cranberries that helps extend the shelf life of food and beverages.
Henri Nutrition, Magna Engineering Services, and Tersa Earth Innovations will also receive funds.
“NPC’s contribution to these companies is an investment in a stronger Canada,” said Shelley King, CEO, Natural Products Canada. “The work we do to develop and de-risk these opportunities ensures Canada can meet the demand for innovative, biobased solutions that address global challenges such as climate change, food security, and chronic health issues.”
With this announcement, NPC has disbursed over $10.6 million to 88 companies.