Resilience in BC's Ocean Technology Sector



    June 8, 2009 - World Oceans Day

    VANCOUVER, June 5 /CNW/ - The ocean economy comprises 7 to 8 percent of
provincial economic activity, providing employment to 167,000 British
Columbians and contributing over $11 billion to provincial GDP. The marine
technology sub-sector alone contributes approximately $1.1 billion annually to
provincial GDP.

    BC's ocean technology companies are resilient because their products and
services are in global high demand areas such as energy, environment, defense
and security. As a result, exports account for 80% of these technology
companies' revenues.

    "The ocean offers exciting potential for the development of renewable
energy sources, such as wind, wave and tidal power, to help fuel our economic
future and address climate change", said Andrew Walls, Director, Ocean
Sciences and Energy of BC Innovation Council. "The Council opens international
market opportunities for BC's ocean technology companies and develops
technologies to the point of commercial success".

    Here are a few examples of BC technologies that are leading the sector:

    SyncWave Power Resonator by SyncWave Systems Inc.

    The SyncWave Power Resonator is a breakthrough technology developed in BC
that will efficiently convert ocean energy into clean, renewable electricity.
This is one of the largest untapped renewable energy resources on earth. A
demonstration will be made off the West Coast of Vancouver Island in 2010.

    Submarine Rescue Systems by OceanWorks International

    OceanWorks is contracted to design and build one of the Navy's future
submarine rescue vehicles, the Pressurized Rescue Module System (PRMS). When
completed, this system will have the most advanced rescue capability in the
world and will set the standard for future submarine rescue system
development. It has a proven record of reliability and innovation to the
Navies of the world. One distinguished success is its contract with the U.S.
Navy.

    To bring recognition for such achievement, June 8th of every year marks
World Oceans Day and the beginning of Ocean and Marine Space week in BC.
Organizations and individuals from around the world will raise awareness for
the crucial role the ocean plays in our lives and how we can protect it.

    About the BC Innovation Council

    The British Columbia Innovation Council (BCIC) is the lead organization
charged with advancing the commercialization of innovation in British
Columbia. BCIC is focused on accelerating the growth of our science and
technology communities and competitively positioning British Columbia in the
global science and technology economy in order to provide significant
employment opportunities and a high standard of living for British Columbians.
BCIC is a Crown agency of the Province of British Columbia. For more
information about BCIC, visit www.bcic.ca.





For further information:

For further information: Media Contact: Lin Kishore, Director, Marketing
and Communications, BC Innovation Council, (604) 602-5251, 1-800-665-7222,
lkishore@bcic.ca


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