Technology companies in N.L. get multi-million dollar boost

Fugro Geosurveys get $2.88 M through ACOA; Solace Power gets $2.55M from ACOA and $244,648 from Research & Development Corporation

Published on June 17, 2017

Kris McNeil, president and CEO of Solace Power Inc. on Topsail Road in Mount Pearl, speaks to the audience about the federal/provincial funding that was detailed at his offices on Friday afternoon.

©Joe Gibbons/The Telegram

St. John's, N.L. — Two local companies developing technologies for work in the sea and the sky will benefit from funding boosts from governments announced on Friday.

'Fugro Geosurveys received $5.5 million through the Atlantic Canada Opportunities Agency to adapt and demonstrate sensor technology used in autonomous underwater vehicles.

President Mike Cole says it will allow the company to expand and build on its expertise in marine mapping, data acquisition and interpretation, in partnership with Memorial University’s faculty of engineering and the Marine Institute.

Meanwhile, Solace Power Inc. received $2.55 million from ACOA and got a $244,648 boost from the province’s Research and Development Corp. to aid in development of wireless charging technology for small, unmanned aerial vehicles.

Kris McNeil, president and CEO, says the money gives the company the opportunity to establish a lab in St. John’s, one of few of its kind in the country, and will put the company at the forefront of wireless power development.

“We are excited to accelerate the research and development of our wireless power technology, which has the potential to transform multiple industries with real-world applications,” McNeil stated in a news release.