Local businesses to get ACOA money

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The federal government has announced it will give $12.6 million across six Atlantic Canadian projects through the Atlantic Innovation Fund (AIF) which is a program offered through the Atlantic Canada Opportunities Agency (ACOA).

Bains

The announcement was made in Moncton, N.B., Thursday by Navdeep Bains, Minister of Innovation, Science and Economic Development, and the Minister responsible for ACOA.

“The Government of Canada, through ACOA, is making strategic investments in innovation that build on competitive regional advantages and support diversification of Atlantic communities. By investing in projects like those announced today, we will help Canadian businesses grow, innovate and export so that they can create good quality jobs and generate wealth for Canadians,” Bains said in a release.

In Newfoundland and Labrador, two businesses will benefit from the money.

The Centre for Cold Ocean Resources Engineering (C-Core) will receive up to $3 million in AIF funding for a radar-based system to help the oil and gas and shipping industries manage ice. The Airborne Ice Thickness Measurement system will help reduce risk associated with ice in those industries and will also support search and rescue operations in environments where ice is a factor.

Working with a number of partners, C CORE will develop and commercialize the new system, which uses ice-penetrating radar data to provide ice thickness maps over large areas.

Canatec Associates International Ltd. has offices in St. John’s, Calgary, and The Hague. It is receiving $853,127 to aid in the development of a search and rescue (SAR) personal locator beacon prototype system.

The new system will consist of an improved alarm and location personnel beacons, biometrics to measure conditions of victims, two-way communications, and web-enabled situational awareness displays with almost real-time communications.

There are also companies in New Brunswick, Prince Edward Island and Nova Scotia that will receive funding.

This is an edited version

Organizations: C-Core, Economic Development, Cold Ocean Resources Engineering Canatec Associates International The Hague

Geographic location: Moncton, Canada, Newfoundland and Labrador Calgary New Brunswick Prince Edward Island Nova Scotia

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Comments

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Recent comments

  • Terry
    February 12, 2016 - 09:30

    David- your concise and accurate comment Is a pleasure to read! Excellent observation!

  • Political Watcher
    February 12, 2016 - 06:16

    Not sure if this this correctly but should it read $12.6 Million and not Billion?

  • Where are the now?
    February 11, 2016 - 19:27

    Wow! ACOA still exists. Who knew? Its activity in this province all but came to a halt under the Newfoundland-hating Harper regime. Little more than a political slush fund for the Maritimes. Run by the same pirates Harper laughingly appointed to represent Newfoundland's interests. The leftover federal Cons who just got together with ousted premiers like Davis to plot their comeback. How's that working for you?

  • david
    February 11, 2016 - 15:19

    Liberals investing in the future ! .....securing seats in the next election for them, and future enormous write-offs of capital, as all ACOA are destined to become. Guitar, anyone?

    • roy206
      February 12, 2016 - 13:05

      Wood Pellets or cucumbers ..anyone...