MONTREAL, Oct. 9 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. officially opened its Sherbrooke production facility and effectively overcame its initial technological challenge through the successful industrial installment of its Neptune OceanExtract(TM) extraction process for krill oil and other marine biomasses.
In opening the plant, Neptune acceded to the next important stage in its business development, the ability to produce industrial quantities of its trademark products: Neptune Krill Oil(TM) - NKO(TM), Neptune Krill Aquatein(TM) - NKA(TM), Neptune LyO-Krill(TM) - NLK(TM) and Neptune Krill Euphausia(TM) - NKE(TM).
"Our important decisions taken, at each of the steps, over the last three years pertaining to the development of the process with the University of Sherbrooke, the instalment of the pilot process by the Quebec Industriel Research Center (CRIQ) and during the industrialization stage, supervised by PROC'D engineering firm, has greatly profited us. The plant is already producing at over 60 % of its capacity after only a few weeks of operation. Our initial objective of attaining 100 % capacity by March 2003, being a monthly production of 5000 kg of the NKO(TM) marine oil and 20 000 kg of the protein concentrate, can probably be attained by the end of this year" states Mr. Andre Belanger, Vice-president of Operations. "We are now in a position to fulfil our orders and sell our products on the open market" he adds.
"Without the creativity of the founding and co-founding researchers, Mr. Adrien Beaudoin and Mrs. Genevieve Martin, the collaboration of the University of Sherbrooke, the City of Sherbrooke , the contribution of Innovatech du Sud du Quebec, of the Financiere du Quebec (Investissement Quebec), Emploi Quebec, of the Societe de Developpement economique de Sherbrooke (SDERS), of our financial institutions, the Business Development Bank of Canada (BDC) and the Toronto-Dominion Bank, of our shareholders, including Fonds d'actions CSN and Bio Capital - Biotechnology and Health Fund, we could not announce today, with the opening of our first plant, the creation of 22 new permanent jobs in Sherbrooke. Thank you all" adds Mr. Henri Harland, President and CEO.
Commenting further on this significant development, Mr. Belanger also noted: "It would not have been possible to successfully meet this technological challenge, one that some may have considered unattainable, were it not for the concerted efforts of all the project contributors, employees and consultants as well as the determination, dedication and creativity of all project participants under the guidance of the PROC'D engineering team and the directors and assistants at the Sherbrooke plant. Congratulations and thank you all." added Mr. Belanger.
Neptune Technologies & Bioressources inc. exploits marine biomasses with its extraction processes utilizing marine biomasses such as krill and other underexploited marine resources such as red crab and calanus. The company is industrializing its extraction process "Neptune OceanExtract(TM)" in order to offer its products to nutraceutical, cosmetic, cosmeceutical and biopharmaceutical markets. Due to its technologies, Neptune Technologies & Bioressources Inc. is strategically well positioned in the huge and emerging markets based on the health and wellness concepts, markets in which natural biomass extraction will play an important role in developing nutrigenomics, the next wave in nutritional research.
Neptune Technologies & Bioressources Inc. is listed on the TSX Venture Exchange where its shares trade under the ticker symbol NTB, therefore this transaction is subject to its approval.
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