“This Government is making smart investments that will lead to new opportunities for our agriculture sector, additional jobs in our rural communities, and greater profits for our farmers,” Ritz said of the $2.9 million investment.
PureCell Technologies Inc. will team with the government to construct a new 10,000 square foot facility which will allow for extraction, purification, stabilization and conditioning of the molecular compounds that demonstrate anti-oxidant and anti-inflammatory properties. PureCell is expected to generate $1 million in revenues in 2009 and more than $22 million by 2012.
In addition to creating 20-60 new jobs, PureCell Technologies will also develop a quality control program for Canadian organic spinach producers. "As a business person, it is very stimulating to be able to count on the collaboration of competent, passionate people like those who work for Agriculture Canada. Such a relationship between informed individuals is particularly important when a company, such as PureCell Technologies, is entering an entirely new area, in our case the development and manufacturing of botanical drugs," said Dr. Andre P. Boulet, President and CEO of PureCell. More information is available here.