Alberta premier says diversification plan paying off in bionindustry

EDMONTON – Premier Rachel Notley says Alberta’s economic diversification strategy is beginning to pay dividends in the bio-products industry.

Notley says the province, working with the University of Alberta, has helped Edmonton-based firm Ceapro develop and sell an advanced oat-oil extraction process.

The premier attended the grand opening of an expansion to Ceapro’s production facility to supply customers making personal-care products and cosmetics.

Ceapro is also doubling its workforce to 60.

Notley’s government is putting millions of dollars into loans and investments to get Alberta off what it calls a roller-coaster dependence on oil and gas royalties.

In the last decade, oil and gas royalties have taken Alberta from multibillion-dollar budget surpluses to multibillion-dollar deficits.