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Stemergy Secures $3.3 Million Commitment for Hemp Processing

03 June 2008

Stemergy Renewable Fibre Technologies has secured a $3.3 million commitment from the Ministry of Research and Innovation to scale up the Company's BioFibeRefinery technology.

Stemergy was formed in 1994, and in that same year started to grow industrial hemp, and has operated an R&D facility at Delaware, Ontario since 1998. The BioFibeRefinery technology is the culmination of years of work for making biofibre materials from plants such as hemp and flax.

""We are in a new environmental and economic paradigm and renewable materials will continue to replace non-renewable resources in wide ranging applications. Our BioFibeRefinery technology is a complete system from plant genetics through to wide spread distribution of our biofiber materials.""

""We source locally grown plant stems, that are fractionated and refined using our technology, and the resulting biofibres are supplied to large global markets which include replacing plastics and fibre glass for making composites. Stemergy's future growth prospects look extremely positive."" commented Geofrey Kime, P.Eng., Stemergy's President and COO.

The total project budget is $10 million, and Stemergy is pursuing the balance of the funding from financing partners interested in participating in the fast growing renewable and bioproducts industry.