Foragen Technologies S.E.C. and Urgel Delisle & Associés Inc. create Codéna: a company centred around the development of naturally sourced pesticides
Saint-Hyacinthe (Québec), January 15, 2002- Within the Salon de l'agricultureur, Dr. Roger Laurent Bernier, Vice-President, Québec & the Atlantic of Foragen Technologies S.E.C. (Foragen), and Mr. Urgel Delisle, President of Urgel Delisle & Associés (UDA), announced the creation of Codéna, a development and commercialization firm of a unique biopesticide in Canada.
This biopesticide, developed by UDA from a plant extract cultivated in Québec, eliminates or controls the vast majority of pests found in greenhouses. It is compatible with the biological control used by many producers and its shelf life meets U.S. Environmental Protection Agency (EPA) norms.
"This is our first major investment in Québec," stated Dr. Bernier. "We were impressed by the quality of the research conducted by UDA and the technology’s proven effectiveness." Mr. Delisle added that "Codéna will enjoy indispensable advantages for its development: Foragen’s business experience and network of contacts."
Dr. Hélène Chiasson, Vice-President, Research & Development at Codéna, believes that such a biopesticide answers the needs of the public and the various levels of government. "It is a safer product but longer lasting, as insects adapt fairly easily to chemical pesticides but not so well to a biopesticide, and it is compatible with integrated, competitive control," she pointed out.
Since 1978, UDA has been conducting R&D projects that have consistently proved its dynamism and contributed to its development to such an extent that in 1993, Urgel Delisle & Associés was recognized by the Natural Sciences and Engineering Research Council of Canada (NSERC) as an authorized research organization specialized in agriculture, forestry and environment. Also since 1993, UDA and the Horticultural Research and Development Centre (HRDC) of Agriculture and Agri-Food Canada (AAFC) at Saint-Jean-sur-Richelieu, and the National Research Council of Canada have joined forces on major research projects aimed at developing an acaricide/ insecticide from a plant extract cultivated in Québec.
Codéna will also receive sizeable grants from various government levels, including the R&D Matching Investment Initiative (RDMII) from Agriculture and Agri-Food Canada. This fund is intended to develop and eventually commercialize new technologies in the service of Canadian agriculture.
Foragen Technologies S.E.C. is a Canadian investment fund dedicated to the creation and launch of technologically advanced companies in the bio-food sector. Its mandate is to promote start-ups by offering entrepreneurs seed capital, business and technology management expertise and networking opportunities that will allow them to concentrate on developing and commercializing their technologies. Foragen is owned equally by Royal Bank Ventures Inc., the Saskatchewan Opportunities Corporation (SOCO), a subsidiary of Crown Investments Corporation of Saskatchewan (CIC), and SGF Soquia Inc., a subsidiary of Société générale de financement du Québec. Foragen has offices in Québec, Ontario and Saskatchewan.
Mr. Bernier, Mr. Delisle and Mrs. Chiasson will be at the Salon de l’agriculteur on January 15, 2002. They will be available to talk to the media between 1:00 p.m. and 4:00 p.m. at “ La Présentation” room.
Information:
Dr. Roger Laurent Bernier
Vice-President for Québec and the Atlantic Region
Foragen Technologies S.E.C.
(514) 217-6775
roger.bernier@foragen.com
To return to news click here.
