BioExx to build canola processing plant
Bio-Extraction Inc. says it plans to build a processing plant in Saskatchewan to extract oil, animal feeds and protein concentrate from canola oilseeds, using a technology developed by the company.
The plant is expected to be operational in second half of 2008, but location
and costs were not disclosed. The company said the plant would be designed to
process 40,000 tonnes of canola oilseeds per year, about 60% more than
originally envisaged.
At full capacity, its expected to produce more than
17.5 million litres of crude degummed canola oil, which would be further refined
into edible oil or biodiesel fuel, and 13,000 tonnes of animal feed
annually.
It will also be capable of producing up to 11,000 tonnes per
year of protein concentrate as a result of Bio Exx‘
processing technology.
“We anticipate that our business
model, uniquely enabled by our protein-retentive extraction technology, will
allow us to build and operate profitable plants of a moderate scale,
significantly mitigating the business risks inherent in the larger, more
conventional and lower margin facilities being announced in today’s environment
of high feedstock prices”, BioExx founder and CEO Chris Carl said in a
statement.
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