Neptune launches $20-million expansion project

Neptune Technologies & Bioressources has announced a $20-million expansion of its facility in Sherbrooke QC for the production of its phospholipid products for the nutraceutical and pharmaceutical markets. The 3,700-sq-m expansion is being financed with a mix of public and private resources — Investissement Quebec ($3 million grant), Canada Economic Development ($3.5-million interest-free loan), Desjardin Business Centre ($9-million mortgage loan), provincial investment tax credits ($1.1 million) and Sherbrooke Innopole ($200,000). The balance (approximately $3 million) comes from Neptune working capital. Two affiliated companies are strategically involved in the project and Neptune's development activities: Acasti Pharma Inc and NeuroBioPharma Inc….