International Science and Technology Partnerships Canada Inc.
(ISTPCanada) & Global Innovation and Technology Alliance (GITA) Award
$1.2 Million to Consortium - IPICO, McMaster RFID Applications
Laboratory, Strategic Consultants & Indian Institute of Technology Delhi
BURLINGTON, ON, June 18 /CNW/ - IPICO Inc. (TSX-V:RFD) ("IPICO" or the
"Company") is pleased to report that the International Science and Technology
Partnerships Canada Inc. (ISTPCanada) & Global Innovation & Technology
Alliance (GITA) have awarded a joint research and development (R&D) initiative
grant to a collaborative consortium led by Canadian partners McMaster RFID
Applications Laboratory (MRAL) and IPICO, along with the Indian Institute of
Technology Delhi and Strategic Consultants, both of New Delhi, India.
The C$1.2 million grant will be used to continue the development of a
technology solution to power an intelligent transportation system framework.
The goal of the project is to create an economically-viable RFID solution to
capture and analyse data related to traffic use and capacity, without a
corresponding increase in investment in road infrastructure. In turn, this
technology could be used to help manage traffic, reducing road delays and
transit time, therefore reducing both emissions and dependency on fossil
The consortium had submitted a proposal to develop and create a platform
for a specially designed passive commercial transponder (RFID Tag) that, when
attached to every vehicle, is capable of carrying significant, safe, secure
and accurate information pertaining to the vehicle itself, including its
identity. This information collected would be used to manage transportation
flows on highways and roads.
According to the prior work conducted by Strategic Consultants, if the
proposed system is implemented, and leads to a 10 per cent reduction of fossil
fuel use, the corresponding value delivery would be of the order of
US $220 billion and the reduction in greenhouse gases could be of the order of
4,800 Teragrams of carbon.
"We are extremely pleased to be part of winning this prestigious
international grant, particularly as it reflects the huge potential for our
electronic vehicle identification systems," said Gordon Westwater, President
and CEO of IPICO. "At the same time, our excellent partnerships with our
associates in India and with MRAL have helped us to create a true RFID
McMaster's Dr. Rafael Kleiman, Director MRAL & Professor of Engineering
Physics, noted: "as the global economy evolves we have to keep adjusting the
way universities interact with the rest of the world. This project
demonstrates McMaster University's commitment to collaboration and forward
looking research and development and we are excited to be included in this
This grant is one of 10 new R&D initiatives to be supported by the
Canadian government's International Science and Technology Partnerships
Program, which is delivered through ISTPCanada and its counterpart in India,
the Global Innovation and Technology Alliance (GITA). The total project cost
over a two year period is estimated to be $2.5 million with $1.2 million
coming from ISTPCanada and GITA and the balance coming from the industry
partners IPICO and Strategic Consultants.
ABOUT IPICO Inc.: IPICO Inc. is an RFID solution supplier with operations
in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart
labels and tags based on the IP-X communication protocol. IPICO's low
interference readers are designed to meet regulatory requirements in many
major markets, and allow for multi-reader rollout in close proximity. IPICO's
low cost RFID products excel at long read range, fast multi-read
anti-collision and high thru-beam read-speeds of dynamic tag populations.
These products are used to optimize the management of items, people, animals
and processes within the logistic supply chain and other value chains. For
further information, go to www.ipico.com.
This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results, including,
without limitation, statements as to sales forecasts and required minimum
future revenues. Any statements in this news release that are not statements
of historical fact may be considered to be forward-looking statements. Written
words such as "may", "will", "expect", "believe", "anticipate", "estimate",
"intends", "goal", "objective", "seek", "attempt", "suggest" or variations of
these or similar words, identify forward-looking statements. These statements
by their nature are estimates of future results only. Actual results could
differ materially from those contained in the forward-looking statements and
are based on current expectations that involve substantial risks and
uncertainties, including but not limited to the failure to meet market growth,
order volume, delivery commitment or minimum revenue expectations, political
intervention, and those other risks and uncertainties detailed from time to
time in IPICO's periodic reports filed on SEDAR (www.sedar.com).
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310, Email: email@example.com; Pankaj Sood, Manager,
McMaster RFID Applications Lab, Tel: (416) 418-1659, Email: