Neptune Technologies & Bioressources, the Canadian producer of marine-based products, has announced a major new expansion programme.
The first phase of the plan will involve the investment of C$4,500,000 in converting an existing commercial building to a manufacturing plant for the production of Neptune Krill Oil and the marine protein concentrate Neptune Aquateine as well as the extraction of numerous phospholipids present in Neptune Krill Oil, the company said in a statement.
The plant is expected to begin its new functions in the summer, with monthly production reaching 5,000 to 6,000kg of the krill oil and up to 20,000 kg of protein concentrate by the end of 2002.
The company said it had received a C$600,000 line of credit and other financial agreements totalling C$3,300,000 to help fund the expansion programme.
Neptune Technologies & Bioressources is focused on adding value to krill, seal, fish residue and other underused marine resources. The products are used in nutraceuticals, pharmaceuticals and cosmeceuticals.