A company using federal government technology to extract, purify and isolate valuable compounds from plants will consolidate its operations from Ontario and British Columbia into Edmonton.
Radient Technologies announced Friday it will move its head office from Vancouver, its production facility from Whitby, Ont. and its research and development lab from North York, Ont. to newly-acquired facilities in south Edmonton.
The company uses a patented platform of microwave-assisted processing (MAP), based on 12 patents it licenses from Environment Canada. The process uses a combination of microwaves and solvents to build up pressure within plant cells, driving out a targeted compound. The process can also be applied to algae and fungi.
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With MAP, Radient extracts “high-value, naturally derived compounds and ingredients” for use in making pharmaceutical intermediate, nutraceutical, food and cosmetic products.
The company will also help clients find Canadian sources for the biomass they will be processing.
The company said it has has a financing deal worth $5.5 million with a syndicate that includes AVAC Ltd., Agriculture and Agri-Food Canada (AAFC), Foragen Technologies Management Inc, Koniag Development Corp. and an unnamed private investor from B.C.
AAFC said in a separate release Friday that it will put up $1.1 million in repayable funding to help Radient introduce the new technology, which it said will “result in new products for Canadians, more jobs for the community and new markets for farmers.”
“This is a fine example of how our government is delivering real action and making smart investments in the agriculture industry to boost local economies, create jobs and provide farmers with new revenue sources,” Edmonton MP Mike Lake said in AAFC’s release.
AAFC’s funding will flow through its five-year, $134 million Agri-Opportunities program.
