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NEPTUNE TECHNOLOGIES AND BIO-RESOURCES 

Premier Jean Charest of Quebec, has announced a non-refundable financial assistance package of $3 M to Neptune Technologies and Bio-resources for the realization of a project evaluated at $20 M. Neptune is a publicly-owned Quebec company, with its head office in Laval and production factory in Sherbrooke. It specializes in the extraction of oil from krill which are small cold water shrimp, intended for the market of nutraceutic (healthy nutrients) and nutritional food. This allocated financial support aims at helping the company to expand and optimize its production process by installing three new production lines. The project, which will be carried out in two phases over the next three years, will create 40 jobs and will solidify 83 others.

"The market for natural health products, particularly those described as nutraceutic, is in full growth. In this respect, the process of production of the oil from krill, emphasized by Neptune, represents an extraordinary and innovative opening with great commercial potential. Moreover, it is about 'a niche' that has been exploited very little in Quebec. Our support will make it possible for the company to maintain its competitive position on both the Canadian and the international market, in addition to consolidating the presence of Quebec in this sector. It is of primary importance for my government to support projects which contribute to the promotion of the innovation and export, the avenues of choice to adequately answer universal challenges", affirmed Premier Jean Charest.

Neptune has developed a patented process to extract the oil of the krill which is sold by the barrel. The organic components contained in the krill, in particular omega-3 and antioxydants, are actively sought by agro-alimentary, nutraceutic, cosmetic and pharmaceutical industries for their therapeutic qualities. These Neptune products are currently marketed in Europe, in the United States as in Asia.

"Neptune has always had its focus on innovation, using the fine point of technology to reach the highest level of productivity, effectiveness and quality. The health benefits of our products relate to cardiovascular health, the ignition and the health of women and are recognized by Santé Canada, which ensures us a competitive position in our international development. These investments will reinforce our position within industry and open new markets. We are extremely enthusiastic vis-à-vis this strategy of growth", noted Henri Harlan - President and General Manager of Neptune Technologies.