On the heels of announcing a $55 million Series B financing round, Kelowna’s INCA Renewtech is making news in Paris, France.
INCA has won a € 25,000 prize package at the international JEC Composites Show Startup Booster Competition, the leading startup competition in the world of Composites & Advanced Materials.
The Series B funding round will enable INCA to commercialize its line of hemp-based, advanced bio-composites for Toyota North America, Winnebago Industries, and Gurit, as well as move forward with construction of its hemp fiber processing facility in Vegreville, Alberta.
Completion of the project will make INCA the first vertically integrated natural fiber composites company in the world.
INCA’s team has deployed their decades of award-winning experience in fiber processing and bio-composites innovation and manufacturing to produce lighter prepregs for the automotive industry, large dimensional panels to replace plywood in RV sidewalls, cores for wind turbine blades and boats, and compounded pellets to replace glass-reinforced plastics.
The product line will be manufactured from hemp which has been legally grown in the Canadian Prairies since 1998, primarily for plant-based protein. INCA will acquire the waste biomass from large growers, refine it into long fiber, short fiber, and hurd and manufacture the full product line.
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