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Minister Bains announces $39 million investment in jobs of the future
[August 09, 2019]

Minister Bains announces $39 million investment in jobs of the future


Support will help British Columbian firms, innovate, scale-up and expand in Canada and around the world

NORTH VANCOUVER, BC, Aug. 9, 2019 /CNW/ - Innovative small-and medium-sized enterprises (SMEs) across Western Canada are creating jobs of the future. By supporting their success, the Government of Canada is investing in the future of middle-class Canadians and all those working hard to join them.

Today, during a visit to the Hydrogen Technology & Energy Corporation (HTEC), the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for Western Economic Diversification Canada (WD), announced investments through the Business Scale Up and Productivity (BSP) for 17 companies. Together, these companies will receive up to $39 million, including $875,000 to HTEC to develop and commercialize a next generation hydrogen fuel delivery system.

With the support of the WD funding, HTEC will develop and commercialize its next-generation PowerCube hydrogen distribution module. The PC65 is a flexible fuel-supply solution that can deliver high-pressure hydrogen to retail hydrogen fueling stations or act as a stand-alone fueling solution in heavy-duty transportation applications. This investment will allow the company to refine its existing PowerCube technology to support recently announced projects in Edmonton and the Port of Los Angeles; maintain a competitive advantage as the hydrogen fuel cell electric vehicle (FCEV) market develops; and generate increased employment opportunities, revenue growth, and export sales.

In the coming years, hydrogen-powered cars, trucks, and buses will grow in popularity to meet zero-emission vehicle and climate change goals. HTEC's mission is to harness hydrogen's potential to reduce pollution and climate change by building hydrogen supply stations to support this developing industry.

Supporting innovative, clean technology firms in Western Canada is a priority for WD. By providing interest free, repayable funding to help qualified companies grow and expand, WD is delivering on the Budget 2018 commitment to grow the western Canadian economy through regional innovation. In British Columbia, this investment will help create almost 800 new jobs for middle-class Canadians and will ensure Canada's prosperity for decades to come.

Western Economic Diversification Canada promotes the development and diversification of Western Canada's economy and advance the interests of the West in national economic policy, programs and projects.

The projects announced today include:

 





Organization

Project Description

Location

Funding

AbCellera Biologics Inc.

Scale-up partnerships in therapeutic antibody discovery business

Vancouver, BC

 Up to $5,000,000

Appnovation

Technologies Inc.

Commercialize open source

software platform for life science and finance sectors

Vancouver, BC

 Up to $2,495,500

ARTMS Products Inc.

Expanding the Use of Cyclotrons for Production of GMP Medical Isotopes

Vancouver, BC

$1,500,000

Binary Stream Software Inc. 

Adapt existing software to a cloud-based environment for increased market share

Burnaby, BC

 Up to $1,143,000

BumperNow Plastic Welding Inc.

Improve capacity and productivity of recycling operations by adopting advanced technology

Burnaby, BC

    Up to $699,500

DarkVision Technologies Inc.

Scale up of DarkVision Downhole Imaging Technology in Western Canada and US

Vancouver, BC

Up to $2,991,500

Waterplay

Optimize manufacturing capacity and processes for waterpark parts and systems

Kelowna, BC

$2,500,000

HTEC Hydrogen

Technology & Energy Corporation

Develop and commercialize next generation PowerCube hydrogen fuel delivery system

 

Vancouver, BC

Up to $875,000

Jostle Corporation

Increase connectivity of an

employee portal (intra net) to other enterprise systems

Vancouver, BC

Up to $2,000,000

Pug Pharm Productions

Scale-up marketing of Picnic

platform to capture emerging high-potential markets

Vancouver, BC

 Up to $550,000

Real Estate Webmasters Inc.

Commercialize a Property

Inventory Management System in Europe

Nanaimo, BC

$2,583,862

Redlen Technologies Inc.

Scale-up production of detectors for medical and security imaging devices

Saanichton, BC

$2,500,000

Saltworks Technologies Inc.

Demonstrate and commercialize industrial desalination technology

Richmond, BC

$2,500,000

SemiosBIO Technologies Inc.

Scale-up manufacturing and sales activities of precision agriculture system

Vancouver, BC

$5,000,000

STEMCELL Technologies Canada Inc.

Improve quality management system & upgrade cell separation products for new markets

Vancouver, BC

$5,000,000

Traction Sales and Marketing Inc. and

Traction Complete Technologies Inc.

Accelerate growth of account-based sales software

Burnaby, BC

 Up to $300,000

Wiivv Wearables Inc.

Establish a biomechanics lab and digital manufacturing centre

Vancouver, BC

Up to $2,300,000


TOTAL WD FUNDING                                                                             

 Up to $39,938,362


 

Quotes

"Across Canada, innovative companies are developing solutions to today's biggest challenges, like climate change, and creating the jobs of the future.  By supporting dynamic companies in promising sectors across British Columbia, our government is helping turn today's challenges into opportunities, and create the kinds of jobs that will secure a bright future for our children." 
     -       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada

"Like many communities across British Columbia, North Vancouver is home to a number of creative, forward-thinking companies that provide jobs and prosperity for Canadians. HTEC is just one example of ambitious companies that are focused on jobs, growth, and innovation."
     -       Terry Beech, Member of Parliament for Burnaby North—Seymour and Parliamentary Secretary to the Minister of Transport

"HTEC is grateful for WD's investment in support of our ongoing efforts to reduce the cost and complexity of distributing hydrogen. With the PC65 system, we can deliver high-pressure hydrogen where and how it's needed, in larger volumes than more conventional distribution systems like tube trailers. Fewer deliveries mean reduced fuel costs for our customers, and reduced greenhouse gas and particulate emissions associated with transportation of the hydrogen itself."
     -       Colin Armstrong, President & CEO, HTEC

Quick Facts

Additional Links

Stay Connected

Follow us on Twitter: @WD_Canada, @ISED_CA 
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WD Toll-Free Number: 1-888-338-WEST (9378)
TTY (telecommunications device for the hearing impaired): 1-877-303-3388

IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.

SOURCE Western Economic Diversification Canada


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