Canada Invests in Innovative Green Projects in Quebec: Woman- Owned Start-Up Receives $40M Support

Strategic Insights -

A woman-owned start-up in Rivière-du-Loup has received a significant investment from the Canada Economic Development for Quebec Regions (CED) to support its innovative project. The Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED, announced a repayable contribution of $54,720 for Malterre, a business that specializes in manufacturing traditional crackers from spent microbrewery grain.

Malterre is a family-run SME that recovers waste malt grain from beer manufacturing, transforming it into an eco-friendly product that is high in fibre and vegetable protein. The CED support will enable the business to acquire equipment that is better suited to the semi-industrial manufacturing of its spent grain crackers. This investment is part of a series of CED announcements that have been taking place since the start of February, confirming a total of nearly $40 million in investments in over 20 innovative projects by Quebec businesses and organizations.

Key Takeaways:

  • The Canada Economic Development for Quebec Regions (CED) has invested nearly $40 million in over 20 innovative projects by Quebec businesses and organizations, including Malterre, a woman-owned start-up in Rivière-du-Loup.
  • Malterre received a repayable contribution of $54,720 from CED to support its project, which involves acquiring equipment for the semi-industrial manufacturing of spent grain crackers.
  • Malterre is a family-run SME that specializes in manufacturing traditional crackers from spent microbrewery grain, using waste malt grain to create an eco-friendly product.
  • The CED support will enable Malterre to create two jobs and develop skills and a distinctive know-how in the region.
  • The Government of Canada recognizes and supports businesses and organizations that are a source of pride in their communities, and Quebec's economic recovery relies on the adoption of green technologies and the fight against climate change.
  • The Canada Economic Development for Quebec Regions (CED) is a key federal partner in Quebec's regional economic development, with 12 regional business offices that accompany businesses, supporting organizations, and all regions across Quebec.

Statistics:

  • The total investment by the Canada Economic Development for Quebec Regions (CED) in over 20 innovative projects by Quebec businesses and organizations is nearly $40 million.
  • Malterre received a repayable contribution of $54,720 from CED, and the business will create two jobs.
  • SMEs account for 99.7% of Quebec's businesses and contribute to 50% of the province's GDP.
  • The Canada Economic Development for Quebec Regions (CED) supports businesses and organizations that are a source of pride in their communities.

Sources:

  • Canada Economic Development for Quebec Regions (CED)
  • The Honourable Pascale St-Onge, Minister of Sport and Minister responsible for CED
  • Malterre, a woman-owned start-up in Rivière-du-Loup