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CleanTech Company INCA Renewtech Awarded $10M Grant to Construct and Operate Commercial Bio-Composites Facility
Friday, February 17, 2023
INCA Awarded $10M Grant from Emissions Reduction Alberta for INCA BioCore - Hemp-based Substitute for Rainforest Balsa Wood and PET Foam for Composite Boats and Wind Turbines
Vancouver, BC, February 16, 2023--(T-Net)--The Government of Alberta announced that it is investing $10 million into a $174.5 million project for Kelowna-based Inca Renewtech to construct and operate a first-of-kind commercial facility to create a sustainable, advanced bio-composite material made from hemp stalk.
Inca Renewtech is a company that transforms waste hemp biomass into advanced composites for the automotive, RV, marine, wind and plastics industries. INCA develops and commercializes innovative bio-composite materials for a wide range of industrial applications.
The company has major partners including Toyota, Genesis-Winnebago, Gurit and Ipco.
INCA's innovation team has created and manufactured bio-composite auto interiors interiors that make cars lighter, safer and more energy efficient for decades.
Today they are using strong hemp fibre to design car interiors, RV sidewalls and boat cores that will be lighter, cost competitive and recyclable. That means better fuel and EV battery efficiency. They also have a bio-plastics divsion where bio-plastics will be made from hemp grown in the Canadian Prairie.
Their hemp based BioPlastics, when made with bio-based polymers, are a direct substitute for polystyrene and glass reinforced, petroleum-based plastics - typically polypropylene or polyethylene.
They are also transforming the soft inner core of this renewable plant into a light-weight core material to replace rainforest balsa wood and petrochemical foams used in boats, planes and wine turbine blades.
David Saltman, Chairman & CEO, INCA Renewtech
"We believe economic performance, social responsibility and environmental integrity are key metrics of success." said David Saltman, Chairman & CEO.
About INCA Renewtech
INCA develops and commercializes innovative bio-composite materials for a wide range of industrial applications.
Website: http://www.incarenewtech.com
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