The Government of Canada invests close to $13 million in Lower Mainland businesses to propel innovation and economic growth in B.C.
Seven local businesses in zero waste and clean tech industries will receive funding to commercialize new technology, expand their operations and reach new markets
VANCOUVER, BC, June 28, 2023 /CNW/ - British Columbia has the people, ideas and resources to address global challenges, while building the local economy. To support B.C.'s boldest and brightest changemakers, the Government of Canada is making strategic investments in businesses that are catalysts for Canadian-made innovation with growth potential beyond our borders.
Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced an investment of almost $13 million in PacifiCan funding to help seven Lower Mainland businesses propel the B.C. economy forward. This includes over $5.8 million for four businesses through PacifiCan's Jobs and Growth Fund and over $7.1 million for three businesses through its Business Scale-Up and Productivity program.
Many of the funding recipients are in zero waste and clean tech industries that are expanding electric vehicle (EV) charging stations, enhancing online sales technology for used EVs, treating wastewater, and repurposing organic waste into commercial products like cat litter and organic fertilizer. More details about the businesses receiving funding today can be found in the backgrounder in the section below.
Minister Sajjan made the announcement while visiting one of the funding recipients, Anaconda Systems Limited in Vancouver, B.C. Established in 2015, Anaconda Systems Limited designs, engineers and operates waste management systems for commercial and municipal use.
Anaconda Systems Limited has created an innovative aerobic composting system that can turn waste into organic fertilizer in 10 days – a process that typically takes 90 to 180 days. This process results in less waste to landfills, reducing methane gas in our atmosphere and helping create a net zero future. The company is receiving $2.5 million through the Jobs and Growth Fund to scale up its operations and market this solution across North America.
In all, today's investments are expected to create over 300 jobs and almost $350 million in expected revenue growth for B.C. businesses.
The Government of Canada, through PacifiCan, supports innovation, business growth and community economic development in British Columbia. Through targeted funding programs, PacifiCan makes strategic investments in growing companies poised to strengthen B.C.'s position as a domestic and international leader in growing sectors, such as clean technology, life sciences and digital industries.
"To reach net zero, the world needs the ingenuity of British Columbian businesses. Companies like Anaconda Systems Limited are finding innovative solutions to global challenges and making British Columbia a leader in clean technology. Today's investments will not only create over 300 quality jobs for British Columbians, but contribute to a greener future for Canada."
- The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada
"PacifiCan's diverse investments across British Columbia enable businesses to create good local jobs and scale up productivity. Today's announcement includes over $5.3 million for Lucid Vision Labs and Saltworks Technologies, two local companies based out of Richmond, B.C. This investment will help grow Richmond based talent and technology as well as getting Canadian made goods to new markets."
- Parm Bains, Member of Parliament for Steveston-Richmond East
"Anaconda has developed a proprietary clean technology for organic waste processing infrastructure, tackling the pervasive issue of greenhouse gas emissions in transport and disposal. This investment from PacifiCan is key to the stage of Anaconda Systems Limited as a company, thereby enabling the export of our next generation technology."
- Russell Zishiri, Founder & CEO, Anaconda Systems Limited
- 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 inclusion, enhancing competitiveness and creating jobs across British Columbia.
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Backgrounder: The Government of Canada invests close to $13 million in Lower Mainland businesses to fuel innovation and economic growth in B.C.
Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced an investment of almost $13 million in PacifiCan funding. This funding will help seven Lower Mainland businesses propel the B.C. economy forward in zero waste and clean tech industries, like expanding electric vehicle (EV) charging stations, enhancing online sales technology for used EVs, treating wastewater, and repurposing organic waste into cat litter and organic fertilizer. This includes over $5.8 million for four companies through PacifiCan's Jobs and Growth Fund and over $7.1 million for three businesses through its Business Scale-Up and Productivity program.
The projects announced today include:
Business Scale-Up and Productivity
Saltworks Technologies Inc.
$4,800,000
Funding will help scale-up the company's operations and advanced technology, which treats industrial wastewater and water used in processing lithium – a major component needed for car batteries in electric vehicles and key for the transition to clean energy. Saltworks will expand its current facility, hire new employees, improve manufacturing efficiency, expand sales across Canada, the United States and South America, and build after-sales support.
BQE Water Inc.
$1,725,000
Funding will help the company to scale up its capacity and to commission multiple mining wastewater treatment plants concurrently. BQE Water will recruit, hire and train new staff, travel to job sites for plant commissioning and operation, and market its services at industry conferences.
LeadingAhead Energy Inc.
$592,750
Funding will be used to scale-up the company's advisory services for electric vehicle charging stations. With this funding, LeadingAhead Energy will purchase equipment, hire staff, and market their services across Canada and the United States.
Lucid Vision Labs Inc.
$552,500
Funding will help the company to scale-up manufacturing of its compact, high performing cameras, used in applications like factory automation. This investment will almost triple the size of Lucid Vision Labs' production facility in Richmond and allow it to keep up with demand and create new jobs.
Anaconda Systems Limited
$2,500,000
Funding will allow the company to scale-up its innovative composting system, which quickly turns waste into organic fertilizer. Anaconda Systems Limited will also expand and market its waste solution across North America, resulting in less waste in landfills.
MintList Technologies Inc.
$2,000,000
Funding will help scale-up and enhance the company's online automotive marketplace (which includes the largest inventory of inspected, certified, pre-owned electric vehicles in B.C.) with new cybersecurity measures and automation tools. To achieve this, MintList Technologies will hire new staff, build new platform features and launch marketing campaigns to grow its customer base.
Tuft and Paw Inc.
$750,000
Funding will help the company scale up sales and marketing of its eco-friendly cat litter subscription service. The litter is biodegradable and made from soybean husks, a byproduct of producing tofu. With this support, Tuft and Paw will attend trade shows, develop their mobile app and promote their products to new markets.
SOURCE Pacific Economic Development Canada
Haley Hodgson, Press Secretary, Office of the Minister of International Development and Minister Responsible for the Pacific Economic Development Agency of Canada (PacifiCan), [email protected]; Jillian Glover Communications Manager, PacifiCan, [email protected]
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