OLEOTEK was founded on November 28th, 2002 as a non-profit corporation under Québec's "Loi sur les compagnies". OLEOTEK was mandated to manage the activities of the college technology transfer center in industrial oleochemistry recognized by the Ministère de l'Éducation du Québec at the Collège de la Région de l'Amiante (now known as the Cégep de Thetford).
The center's activities began in February 2003, when Benoit Pelletier was hired as General Manager and David Berthiaume, M. Sc., MBA, chemist, was hired as Scientific Director. Right from the beginning, OLEOTEK started gaining expertise by building a product development project on lubricants as well as a development project on the concept of vegetable oil based electrical insulating oil. The following summer, Josée Labrecque, technician in petrochemistry, joined the team. In the early stages, OLEOTEK benefited from the Centre de minéralogie et de plasturgie (CTMP) laboratories as well as the Cégep's teaching laboratories in order to complete its initial projects.
In the spring of 2004, two more people joined the team: Loretta K. Leigh as Coordinator of Resources Management and Alain Tremblay, M. Sc., chemist, as Director of Technical Assistance. As the staff and projects started to expand so did OLEOTEK's need for laboratory and office space. The company soon left the confines of the Cégep labs and moved into a much larger temporary local enabling its scientists to occupy the laboratories on a full time basis. With adequate space, OLEOTEK could now equip itself with a variety of laboratory equipment to help in the development of its projects.
In February 2005, two other people joined the ranks of OLEOTEK: Jean-Yves Bergeron, PhD, chemist, took on the role of R&D Researcher and Jean Laflamme was named Business Development Director and Manager for the Thetford Technopole in industrial oleochemistry, an organisation that was incubated by OLEOTEK. Over the course of that year, OLEOTEK consolidated its scientific expertise and its equipment infrastructure through a large number of independent research projects, research projects in partnership with businesses, technical assistance projects, and consulting services.
In July 2006, Benoit Pelletier left OLEOTEK in order to focus on the regional economic development surrounding oleochemistry. David Berthiaume was named as his successor. The following September, the Thetford Science Park was founded as an independent organisation and Jean Laflamme became its Director. After that period, OLEOTEK continued its growth and another move ensued to more permanent installations. Soon after, a professor in chemistry at the Thetford Cégep, Roxanne Bernier, M.Sc., chemist, joined the team as a R&D Chemist. Oleotek is still growing and is continuing to hire competent personnel.