Montmagny, Quebec, June 29, 2009 – Acting on behalf of the Honourable Denis Lebel, Minister of State for Canada Economic Development, Steven Blaney, Member of Parliament for Lévis-Bellechasse, today announced the awarding of $281,586 in repayable funding to PurGenesis Technologies Inc. toward the acquisition of specialized equipment for the firm’s new spinach-based medication and cosmeceuticals manufacturing plant to be built this year in Montmagny.
The research and development carried out by PurGenesis Technologies, formerly known under the name PureCell, has led to the development of a unique process for extracting and purifying molecular compounds with anti-oxidant and anti-inflammatory properties that the company is now able to incorporate into its various products.
“PurGenesis Technologies operates in the life sciences sector. Like other enterprises of the new economy, this company relies on highly-skilled labour to conduct its activities. The Government of Canada is proud to lend its support to this firm, the country’s first to manufacture plant-based medication. By helping enterprises whose activities are centred on knowledge and know-how, we are giving ourselves the tools needed to weather this economic storm and to create new prosperity,” Mr. Blaney commented during the sod-turning ceremony for the PurGenesis manufacturing plant and R&D centre.
The new Montmagny plant, which will have required an overall investment of $12.8 million to become production-ready, is expected to create some 100 jobs within the next two years.
This financial assistance has been granted through Canada Economic Development’s Community Economic Diversification Initiative – Vitality, a measure put in place to support communities experiencing slow economic growth. Added to the $2.9 million investment announced last September under Agriculture and Agri-Food Canada’s Agri-Opportunities Program, this latest contribution brings to nearly $3.2 million the total level of Government of Canada funding awarded to this project.
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Sources:
Guylaine Beaudoin
Communications
Canada Economic Development
Tel.: 418-648-4679
E-mail: guylaine.beaudoin@dec-ced.gc.ca
Stéphanie Desforges
Senior Special Assistant, Communications
Office of the Honourable Denis Lebel
Canada Economic Development
Cell: 514-496-1282
E-mail: stephanie.desforges@dec-ced.gc.ca
