GUELPH, ON (March 4, 2010) – GFO was the first to offer support for Trent University’s Center for Knowledge in the Environment pledging $500,000 for biomaterials research and development. A powerful domino effect has resulted from this initial funding with government and private contributions now in excess of $4.25 million.
Most recently, Dr. Suresh Narine, the champion of this initiative, was awarded one of two $1.25 million Ontario Research Chairs in Green Chemistry and Engineering by the Council of Ontario Universities (COU) Ontario Research Chairs Selection Panel. As Ontario Research Chair, Dr. Narine will receive funding of $250,000 a year for five years from the Ontario Ministry of the Environment.
GFO holds two seats on the Trent University Biomaterials Research Advisory Council (RAC) to provide direction on future research projects. GFO will also be allocated a percentage of any commercialization royalties resulting from these projects. All money received from royalties will be reinvested in biomaterial research and development.
The Trent program will have a big pay-off for soybean growers. “A key focus of the research is to establish new markets for soybean oil, particularly in the pharmaceutical, cosmetic, and lubricant industries” says Dale Petrie, VP Strategic Development at GFO. “Through segmentation of specialty-trait soybeans, value and demand for specific oil profiles will increase, leading to identity preserved (IP) premiums in the price per bushel.”
The current operating money for the program is more than eight times the initial GFO funding. GFO congratulates Trent University and Dr. Narine for this accomplishment and is excited to learn new, innovative uses for soybean based bio-products.
Grain Farmers of Ontario
Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 corn, soybean and wheat farmers. The crops they grow cover 6 million acres of farm land across the province, generate over $2.5 billion in farm gate receipts, result in over $9 billion in economic output and are responsible for over 40,000 jobs in the province.