$465,000 to support the development of two Clermont businesses

The Government of Canada supports projects by Menaud Inc. and Canadian Carbon Group

CLERMONT, QC, Jan. 25, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

Building on their momentum, Menaud and Canadian Carbon Group, two start-up businesses in the Charlevoix-Est RCM, will receive a total of $465,000 in repayable contributions from Canada Economic Development for Quebec Regions.

Menaud Inc. combines creativity and innovation to create original alcoholic products from carefully selected local ingredients. This start-up business will receive a repayable contribution of $275,000 to acquire distillation equipment and make improvements to its facilities. The project will result in the creation of five jobs in the region.

Canadian Carbon Group (10940658 Canada Inc.) will be awarded a $190,000 repayable contribution to help the company realize its full development potential. Specializing in the weaving of dry carbon fiber, the company has developed an innovative process that allows it to offer a high-end product sought by manufacturers in the automotive and aviation sectors. The funding will be used to acquire specialized equipment, carry out leasehold improvements and develop a transactional website. This project will lead to the creation of 10 jobs.

The funding was announced today by the Honourable François-Philippe Champagne, Minister of Infrastructure and Communities. Granted by the Government of Canada through CED programs, the financial assistance will allow the recipient businesses to achieve their established objectives. Their respective projects will generate a total investment of over $1.4 million.

The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. This is why we are committed to ensuring that businesses are able to rely on adequate resources to create and market innovative products.

Quotes

"I salute the entrepreneurial spirit of the leaders of these companies whose achievements we are celebrating today. Both have the expertise and drive needed to fully seize business opportunities that arise in order to step up their game. CED's financial assistance delivers on our commitment to support businesses that grow the economy and create jobs in the regions."

The Honourable François-Philippe Champagne, Minister of Infrastructure and Communities

"The Government of Canada is focusing on the capacity of businesses to innovate and expand in order to support economic growth in Canada. Menaud Inc. and Canadian Carbon Group are two prime examples of dynamism, boldness and innovative capacity. CED's financial support represents a major milestone in the business plans of these start-ups, which have made a name for themselves through their respective visions."

The Honourable Navdeep Bains, Minister responsible for CED

"A combination of know-how, intuition and carefully selected raw materials will enable Menaud to carve out a place for itself in the distillation and brewing market. We are pleased to have the support of CED, which is giving us a valuable helping hand in the pursuit of our objectives."

Enrico Bouchard, President, Menaud Inc.

"Our strategic plan is ambitious and based on the development of a state-of-the-art product designed right here in the region. The financial assistance provided by CED will give us additional impetus to achieve our objectives and realize our most inspired projects."

Luc Tremblay, President, Canadian Carbon Group

Quick facts

• Today's announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
• The funding for Menaud Inc. was awarded through the Quebec Economic Development Program (QEDP), whereas Canadian Carbon Group's contribution comes from the Regional Economic Growth through Innovation (REGI) fund.
• To find out more about CED and its priorities, see the 2018–2019 Departmental Plan or visit www.dec-ced.gc.ca.
• For 50 years now, the Government of Canada has been actively involved in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.

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SOURCE Canada Economic Development for Quebec Regions

Media Relations, Canada Economic Development for Quebec Régions, 514-283-7443, [email protected]