Government of Canada invests over $3.7 million to drive innovation and economic growth in Burnaby

PacifiCan funding will help local companies advance cleantech solutions with a global impact

BURNABY, BC, Nov. 13, 2024 /CNW/ - Burnaby is one of British Columbia's most dynamic business hubs, known for its thriving tech sector and highly skilled workforce. Innovative local companies and forward-thinking leaders are creating sustainable solutions that are transforming global industries, from mining to transportation. PacifiCan is committed to partnering with these companies to support their ambition and growth.   

Two people wearing protective clothing and helmets work in a plant. Text reads: Government of Canada invests over $3.7 million to drive innovation and economic growth in Burnaby. (CNW Group/Pacific Economic Development Canada)

Today, the Honourable Terry Beech, Minister of Citizens' Services and Member of Parliament for Burnaby North–Seymour on behalf of the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $3.7 million in PacifiCan funding for three Burnaby-based companies to grow locally, compete globally and elevate B.C.'s reputation as an innovation powerhouse.

Minister Beech made the announcement while visiting pH7 Technologies Inc., a critical metal processing company receiving $1.5 million in funding through PacifiCan's Business Scale-up and Productivity program. PacifiCan funding will enable pH7 Technologies to purchase and install new equipment for its specialized metal extraction process. The company's innovative process offers an economical and sustainable way to extract critical metals from recycled materials, which are vital for the global transition toward clean energy. 

Compared to traditional methods like smelting, pH7 Technologies' critical metal extraction system uses significantly less water and energy and produces no greenhouse gas emissions. PacifiCan's investment will allow the company to increase its production capacity in Burnaby and meet the growing demand for affordable, renewable energy options.

Minister Beech also announced PacifiCan funding for two other Burnaby businesses. PosiTrace, a supplier of fleet management and GPS tracking solutions, is receiving $1,230,000 in funding through PacifiCan's Business Scale-up and Productivity program. PosiTrace's innovative reporting software provides businesses with real-time visibility into vehicle location and route analytics, which improves productivity and reduces costs and fuel consumption. PacifiCan funding will help PosiTrace expand its local operations and create new jobs.

Rigid Robotics Inc. is receiving $975,000 through PacifiCan's Jobs and Growth Fund to further develop its AI-powered cloud platform and application technology for the mining industry. Rigid Robotics' technology provides real-time data insights and analysis which helps mining companies boost operational efficiency and human safety while reducing emissions.

The investments announced today are expected to help create 47 jobs, grow the Burnaby and regional economy and drive a more sustainable future for British Columbians.

Quotes

"Burnaby is leading the way in sustainability and innovation. Fresh ideas and groundbreaking advancements are shaping the city and fueling a dynamic business community. PacifiCan is here to support these organizations as they expand into new markets, create quality jobs, and transform global industries. Today's investments will strengthen B.C.'s competitiveness on the world stage and help to ensure long-term prosperity and a cleaner future for all British Columbians."

-The Honourable Terry Beech, Minister of Citizens' Services and Member of Parliament for Burnaby North–Seymour

"Thanks to the vital funding from the Government of Canada and the unwavering support of our investors, pH7's industrial-scale Demonstration Plant will soon begin the clean extraction of critical metals from end-of-life materials at full capacity. PacifiCan's funding and essential support are instrumental in enabling pH7 to contribute to a circular economy and enhance the efficient, economical, and environmentally sustainable supply of critical metals - elements crucial to the global transition toward green energy and the achievement of Net-Zero 2050 goals."

-Mohammad Doostmohammadi, Founder and CEO of pH7 Technologies Inc.

"It is tremendously exciting for us to get this vote of confidence from PacifiCan. This investment will allow us to expand our team and help deliver our fleet management and GPS tracking solutions to other parts of North America."

-Bill Kornilo, President and Chief Executive Officer, PosiTrace

"Rigid Robotics is grateful for the support from PacifiCan through the Jobs and Growth Fund. This funding has been pivotal in driving our rapid expansion, allowing us to grow our local team and scale our AI-driven cloud platform. As we grow, our technology is transforming mining operations by reducing costs, minimizing downtime, and improving environmental footprints. We're excited to build on this momentum and continue our fast-paced innovation in B.C. and beyond."

-Mehran Motamed, CTO, Rigid Robotics Inc.

Quick Facts

• PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout our province.
• The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.
• The Jobs and Growth Fund helps job creators, and the organizations that support them, to future-proof their businesses. This includes building resiliency and growth by transitioning to a green economy, fostering an inclusive recovery, enhancing competitiveness, and creating jobs across British Columbia.
• Burnaby is an emerging technology manufacturing hub. Between 2016 and 2021, manufacturing revenues increased by 37.6%, reaching $12 billion in 2021.
• Burnaby was ranked the fourth most resilient economy in B.C. in 2024 by BC Business. This is partially due to the city's diversified economy, with clusters in cleantech and information technology industries.

Associated Links:

• PacifiCan
• Business Scale-Up and Productivity Program 
• Jobs and Growth Fund
• pH7 Technologies Inc.
• PosiTrace
• Rigid Robotics Inc.

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SOURCE Pacific Economic Development Canada

Contacts: Haley Hodgson, Senior Communications Advisor, Office of the Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada, [e-mail]; Lynsey Brothers, A/Communications Manager, PacifiCan, [e-mail]