Hemp-processing plant to open in eastern Ontario
Last Updated: Wednesday, January 21, 2009 | 11:21 AM ET
The Canadian Press
Related
External Links
(Note: CBC does not endorse and is not responsible for the content of external sites - links will open in new window)
An Ontario company says it has secured $2 million from investors to open the first North American bio-processing plant for industrial hemp.
Stonehedge Bio-Resources Inc., based in Stirling, Ont., north of Belleville, announced it plans to open a bio-refining facility this year.
Hemp is the common name for the cannabis plant, which has fibrous roots, stalks and stems useful for producing a variety of products and seeds that are edible. The flowers, buds and leaves of some strains are used to produce drugs such as marijuana and hashish because they contain a psychoactive compound called tetrahydrocannabinol (THC), but industrial hemp is bred to produce very little THC.
The Stonehedge plant would produce Hemcrete, a limestone building material similar to concrete that is considered to be more environmentally friendly.
The company also expects to produce more than $17 million per year in renewable hemp fibre, wood-like chips, pellets, matting and seed products.
Stonehedge Bio-Resources says it plans to start with five employees this year and employ up to 27 people by 2011.
The company says the global renewable and bioproducts industry is expected to exceed $125 billion in revenues by 2010.
Share Tools
Top News Headlines
- Adele wins best album, best record Grammys
- Adele capped off a "life-changing" year by winning six Grammys Sunday night, including record of the year and album of the year for 21 more »
- Hit and run victim's family fears accused will walk
- The family of a young mother killed in a hit and run is outraged that the case against the alleged driver is among thousands in B.C. at risk of being thrown out because of a huge court backlog. more »
- CBC launches digital music service
- CBC is diving into the world of online music with the goal of providing listeners access to their favourite tunes and a way to discover new artists and connect with fellow music fans. more »
- Is it time to start investing in world markets yet?
- Investors have always been told that diversification is one of the best ways to reduce the risk associated with a portfolio, but they often aren't told the whole story. more »
- Adele wins best album, best record Grammys
- Whitney Houston autopsy results withheld
- Hit and run victim's family fears accused will walk
- Quebec town 'heartbroken' after killing of woman, sisters
- Pop queen Whitney Houston dies at 48
- Manitoba man dies after falling off moving SUV
- 2 vehicles sink on river highway
- Doors blocked in fatal Manitoba trailer blaze
- Greece passes new austerity deal amid rioting
