Sherbrooke, Quebec, October 30, 2009 - The Government of Canada is investing in a production facility that will create jobs and give farmers the opportunity to grow and market a new crop that produces high value oils.
Laboratoire M2 Inc. will receive $837,494 to commercialize a naturally-derived disinfectant made from thyme oil for a new use by food processors in Canada and international markets.
"Our Government is making smart investments like this one that use innovation to deliver opportunities to farmers and jobs to communities," said the Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture). "This project will increase demand for our agricultural crops and help our farmers reach new and growing markets."
The project will increase the commercial production of an environmentally-friendly disinfectant called Thymox(TM) made from an oil extraction of thyme. The product is biodegradable, non-toxic and non-corrosive and has anti-bacterial, anti-viral and anti-fungal properties. Funding of $487,494 under Agriculture and Agri-Food Canada’s Agri-Opportunities program will help Laboratoire M2 expand to new Canadian and international markets by meeting regulatory requirements, securing a patent for the product’s use in the food processing industry and purchasing equipment. The production is expected to create 17 jobs by its third year of operation. The company is working with Quebec producers in collaboration with Agriculture and Agri-Food Canada to determine the best thyme varieties that can be grown by Canadian farmers for the production of Thymox(TM). The project is expected to generate $3.6 million worth of annual demand for thyme by its fifth year of production.
Economic Development Canada is also providing funding to Laboratoire M2 Inc.
"Starting a new enterprise requires a great deal of perseverance on the part of the entrepreneurs involved. Our role is to support them in their endeavours. Laboratoire M2 is among those companies investing in innovation to promote growth. Canada Economic Development is providing Laboratoire M2 with a repayable contribution of $350,000, enabling it to begin industrial production of the Thymox (TM) disinfectant and to undertake both domestic and foreign marketing of this product. As we can see, the dynamic energy of our entrepreneurs is helping to stimulate a regional economy," commented the Minister of State for Canada Economic Development, the Honourable Denis Lebel.
"Food safety and traceability have become essential elements when it comes to protecting Canadian agricultural products and consumers. By investing in our laboratory, the Government of Canada is supporting an innovative initiative that will contribute to greatly improving the manner in which our farms are disinfected, and will foster the creation of quality jobs in our region," said Serge Auray, President of Laboratoire M2.
The Agri-Opportunities program is a $134 million five-year program to improve the competitiveness and prosperity of farmers by supporting new innovative agriculture products, processes or services in Canada.