Neptune gets cannabis go-ahead from Health Canada
Neptune Solutions Bien-être is starting the new year with confirmation from Health Canada to obtain an operating license for the processing of cannabis.
This certificate allows Neptune to handle dried cannabis, to manufacture extracted cannabis oil in Sherbrooke and to sell its products and services to other licensed producers. Production should begin in the coming weeks, company president Michel Timperio said.
The license opens the door to the creation of high-quality jobs, particularly in the Sherbrooke region. Neptune hopes to have the opportunity to supply the Quebec Cannabis Corporation (SQDC).
The company hopes to create a dozen good jobs, like engineering, soon.
Neptune can begin marketing its extraction capabilities to become one of the key players in cannabis extraction, cannabis purification, and the cannabis formulation of value-added products.
The company is on schedule to meet its target of completing investment for Phase 2 which will increase the site's production capacity to 200,000 kilograms of dried cannabis, compared to the current capacity of 30,000 kilograms.
Last August, Neptune announced the end of its Phase 1 development in the industrial complex following a $5 million investment in site safety and equipment. Thanks to the investment, its Sherbrooke plant could extract and produce cannabis oil.
Neptune has also begun work on its Phase 2 capacity expansion with a capital investment budget of $4.8 million.
In April, the City of Sherbrooke authorized the Neptune project to transport its research activities on Comtois St. to its facilities at 795 Pépin St.
Neptune, known as Neptune Technologies & Bioressources, adapted its Sherbrooke krill oil extraction plant in 2017 to extract cannabis oil following a deadly explosion five years ago.