Nearly $19 million in venture capital funds is pouring into the creation of Can Pro Ingredients Ltd., a new company that is using a process developed during the past decade by MCN BioProducts Inc. of Saskatoon.
The process to be used by Can Pro (short for canola protein) will concentrate canola meal into a high-protein content feed that is expected to find widespread acceptance in the world's aquaculture businesses.
Todd Lahti of Saskatoon, president and CEO of Can Pro, says salmon farms around the world are having an increasing challenge finding fish meal as a feed and are looking for plant-based alternatives that are high in protein. The dried, concentrated granular canola meal product developed by the scientists at MCN would appear to fit the bill.
"The protein concentrate will have a protein content of 65 per cent, which is about the same as fish meal," Lahti said.
Investments from six venture capital funds are going into Can Pro Ingredients. In addition, the assets and shares of Arborfield Dehy Ltd. are being rolled into Can Pro, which is setting up its canola processing facility on the dehydrating plant site.
This will allow about 70 local producers to continue to have an ownership stake in the new company, Lahti said.
Source: The Star Phoenix
Canola meal could benefit fish farms
CANADA - A new business venture that could see concentrated Saskatchewan canola meal exported to fish farms around the world should also give renewed life to an aging Saskatchewan alfalfa dehydrating plant in Arborfield.