Up to $2.5 million has been committed to Olds College to start the development of value-added projects over the next five years.
“If we’re going to have new value-added development in this province, we have got to make sure the underlying science and technology, research and development capability is present,” said Avac president Bruce Healy.
Avac is an Alberta-based company that funds value-added processing of agricultural products.
The money will be allocated for developing commercial projects and hiring staff to guide programs through the development stage.
New food products are not necessarily the expected results. Proposals for funding could include waste management projects, fibre processing or environmental applications such as composting initiatives.
“Some of the opportunities that are out there are on the heavy industrial side,” he said, citing strawboard plants and wheat fractionating plants as examples.
