SaskCanola Research Grant
This week, Elevance Renewable Sciences, Inc. announced that we have been awarded a $250,000 (Canadian) grant by the Saskatchewan Canola Development Commission (SaskCanola) to enhance the use of canola in renewable-based chemicals. SaskCanola is a producer led commission, established in 1991 under the Saskatchewan Agri-Food Act to improve the competitiveness and profitability of canola producers through research, market development and communication initiatives.
We will use the grant to research how canola can more effectively be converted into specialty chemicals using our metathesis technology. This partnership holds significant growth potential for both the canola and renewable chemicals industries. By teaming up with SaskCanola, Elevance will be able to apply our proven metathesis process to canola more efficiently, creating products that outperform those made using traditional petroleum-based ingredients, beginning with an alternative to petrolatum, a skin protectant widely used in cosmetic skin care.
By joining forces, we will be able to improve the use of canola as a foundation for specialty chemicals, while also lowering manufacturing costs.
The grant currently focuses on petrolatum as the final product. However, we believe that there is tremendous potential for other end uses of specialty chemicals generated from canola. We have talked a lot about how much we value partnerships at Elevance, and I look forward to a successful and productive one with SaskCanola.