Thursday, June 11, 2015 – Charlottetown, PEI – Atlantic Canada Opportunities Agency
MyFathersFarm is taking advantage of the growing craft beer industry by expanding their business to meet the growing demand for hops. The company sells fresh hops to microbreweries throughout Atlantic Canada, and has discovered a way to increase the value of their product, by extending its shelf life.
The Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Rob Moore, Minister of State (ACOA), today announced federal funding for the purchase of new processing equipment.
MyFathersFarm is expanding its production capacity by acquiring new processing equipment to dry hops, allowing them to be stored and used by local brewers. This will also give local brewers the opportunity to purchase locally-produced hops all-year round.
Quick Facts:
- The Government of Canada, through ACOA’s Business Development Program, is providing a repayable contribution of $16,590 to allow the company to purchase new equipment.
- Active Communities Inc. is also contributing $16,589 to this project.
- This new processing equipment will improve efficiencies and meet a growing demand for dried hops.
- Hops have been cultivated for 5,000 years and are primarily used as a flavouring agent and stabilizer in beer making. They can also be used in other beverages, herbal medicines, and food products.
Quotes:
“Modernizing and adapting to the growing needs of industry is how we will continue to strengthen our local economy and remain competitive in the global marketplace. Our Government is pleased to support companies like MyFathersFarm, which enhance the economy in our rural communities. ”
- The Honourable Gail Shea, Minister of Fisheries and Oceans on behalf of the Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency)
The CBDC is excited to see how this farm product expands. It shows great potential. This loan was “outside the box” from traditional lending and that’s exactly what the Community Business Development Corp is there for.
- Ms. Martina MacDonald, Executive Director, Active Communities Inc.
“We appreciate the repayable assistance that ACOA and ACI has made available to us. This will allow us to continue to develop and expand our business in various ways over the next several years”.
- Mr. Wade Beaton, Owner, MyFathersFarm
Associated Links:
• Active Communities Inc.
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Katie MacNevin
ACOA PEI & Tourism
902-940-0801
