|By Marketwired .||
|June 20, 2014 04:21 PM EDT||
SASKATOON, SASKATCHEWAN -- (Marketwired) -- 06/20/14 -- Agriculture and Agri-Food Canada
The Honourable Lynne Yelich, Minister of State (Foreign Affairs and Consular), on behalf of Agriculture Minister Gerry Ritz today announced an investment of up to $535,000 to Prairie Tide Chemicals Inc. which aims to improve the value of flax by adding value to previously unused crop components.
Prairie Tide Chemicals Inc. will partner with Bioriginal and the University of Saskatchewan to develop methods for commercial-scale recovery of sweet flax oil and flax orbitides. These orbitides will then be studied and tested to determine how they can be used commercially in products such as foods and cosmetics.
-- Founded in 2010, Prairie Tide Chemicals Inc. is a federally incorporated start-up company that is commercializing a process for improving flax oil flavour and recovering previously unused high value compounds from flax. -- Canada is the largest producer and exporter of flax in the world. -- Flax oil is the highest source of omega 3 fatty acids of any seed oil available. Omega 3 fatty acids are essential to human and animal health. -- This investment is made through the Industry-led Research and Development stream of Agriculture and Agri-Food Canada's AgriInnovation Program, a five-year, up to $698-million initiative under Growing Forward 2.
"Flax is an important oilseed crop for Canadian producers and processors. We are proud to support the sector in their continued research in developing innovative uses for flax that will create new markets and opportunities for Canadian farmers. "
-- Lynne Yelich, Minister of State (Foreign Affairs and Consular)
"With this funding, Prairie Tide Chemicals will squeeze new value from flaxseed. PTC aims be the first company to commercialize an element of flaxseed oil, called orbitides, for use in health food, cosmetics, pet food and possibly pharmaceuticals."
-- Martin J.T. Reaney, President and CEO, Prairie Tide Chemicals
Growing Forward 2 (Agriculture and Agri-Food Canada)
AgriInnovation Program (Agriculture and Agri-Food Canada)
Office of the Honourable Gerry Ritz
Agriculture and Agri-Food Canada
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