Top News

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

Kris McNeil, president and CEO of Solace Power Inc. said an investment through Lockheed Martin's Industrial and Technological Benefits (ITB) Policy commitment will allow the company to bring its wireless power technology to market sooner.
Kris McNeil, president and CEO of Solace Power Inc. said an investment through Lockheed Martin's Industrial and Technological Benefits (ITB) Policy commitment will allow the company to bring its wireless power technology to market sooner.

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.

 

telegram@thetelegram.com

Latest News