News last update:6 Aug 2012

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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