$72 Million Hemp Processing Facility to be built in Vegreville

$72 Million Hemp Processing Facility to be built in Vegreville

Michelle Pinon - News Advertiser

A globally recognized hemp manufacturing company will be putting down roots in Vegreville.

INCA Renewable Technologies will be investing $72 million to build a processing facility in Prosperity Park.

David Saltman, Chairman and CEO of INCA Renewable Technologies, stated, “INCA Renewable Technologies will build a state-of-the art, 200,000-square-foot fiber processing and composites manufacturing facility in Vegreville.”

The INCA factory is expected to be operational in early 2024 and to create 70 jobs, scaling to about 100 jobs by 2026. “We are planning to break ground in September. If approvals and preliminary work are not completed in time, we will break ground in the spring of 2023.”

“When ramped to capacity, INCA’s operation will purchase 54,000 tonnes of biomass per year, adding $270 million in additional farm income over 25 years. We will process this renewable resource into highly refined fiber. INCA will acquire the remaining biomass from large growers, who are growing hemp for protein. INCA’s purchase of waste hemp fiber from local farmers will make hemp a dual use cultivar and one of the most valuable cash crops in the Prairies.

The short fiber will be transformed in Vegreville into INCA BioBalsa, a direct substitute for the balsa wood used as an essential core material in the construction of boats and wind turbine blades.

The long fiber will be sent via rail to our second factory in Bristol, Indiana, where we will manufacture BioPanels for the RV industry and BioPlastics for the automotive industry. Winnebago and Toyota are commercialization partners for these products.”

As to why the company decided to put down roots in Vegreville, Saltman replied, “Vegreville has emerged as a global investment destination for industrial hemp cultivation, processing, and manufacturing. There are already over 30,000 acres under cultivation within a 200-mile radius, mainly for protein.

Vegreville is also home to InnoTech Alberta, one of five Government of Alberta industrial scale research facilities with deep expertise in hemp composites, genomics and agronomics. INCA Renewtech’s location will be adjacent to the facility and the company has a number of research projects already underway with InnoTech. Plus, the town has excellent road and rail infrastructure, and is only an hour’s drive from the Edmonton International Airport.”

Nate Horner, Minister of Agriculture, Forestry and Rural Economic Development announced on April 21 that INCA Renewable Technologies would be receiving a $400,000 grant from the Government of Alberta in partnership with the Canadian Agricultural Partnership Program in support of the new venture.

“I’m proud to support this significant investment through the Canadian Agricultural Partnership that will further diversify our agriculture sector and create good jobs right here in Vegreville at INCA’s $72-million hemp processing facility” said, Fort Saskatchewan-Vegreville MLA Jackie Armstrong-Homeniuk.

Vegreville Mayor Tim MacPhee, was present for the announcement that was made during the Exploring the World of Hemp Conference at the Edmonton International Airport’s Renaissance Hotel. MacPhee said, “More than anything it shows that the Province is going to be able to support this industry.”

MacPhee said, “It’s the start we needed to get an anchor tenant in our park. We’re pretty excited about it. It’s part of our vision moving forward. We just have to slowly start putting the other pieces in, and I think we’re going to have a really successful new emerging industry.”