Canada Economic Development

Canada Economic Development

April 17, 2012 14:30 ET

Government of Canada Grants Funding to Lanaupole Fibres Inc.

LAVALTRIE, QUEBEC--(Marketwire - April 17, 2012) - Acting on behalf of the Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, Mr. Jacques Gourde, Member of Parliament for Lotbinière-Chutes-de-la-Chaudière, today announced that Lanaupôle Fibres Inc. has been granted financial assistance to acquire state-of-the-art technology and carry out leasehold improvements at its experimental plant.

"By supporting Lanaupôle Fibres Inc., the Government of Canada has again demonstrated its firm commitment to promoting economic growth, with a particular focus on innovation," said Mr. Gourde.

Founded in 2007, Lanaupôle Fibres Inc.'s mission is to develop a new technology cluster in Quebec, namely, industrial applications based on fibre plants, including hemp. Its mandate is to provide manufacturing firms with technical and scientific assistance as well as process, technology and product testing services. This project will contribute to increasing the level of innovation in small and medium-sized enterprises through applied research leading to the development and commercialization of bioproducts and new materials incorporating natural fibres such as industrial hemp and flax.

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This $1,110,000 in non-repayable funding has been granted under Canada Economic Development's Business and Regional Growth program.

For more on Lanaupôle Fibres Inc., visit www.lanaupole.com. (French only)

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