USD$4.5 million loan will help Titan fund growth and sustainable development
OTTAWA, July 5, 2019 /CNW/ - Export Development Canada (EDC), the country's export credit agency, is pleased to announce support for an innovative Canadian company on the leading edge of geosynthetics – man-made materials that help manage and protect the environment.
EDC's direct financing loan of USD$4.5 million to Titan Environmental Containment will help the company's continued international growth as it supplies and installs high-quality products and helps conserve the environment in more markets around the globe.
"Working with EDC was critical in a growing and highly competitive market," said Brett Burkard, CEO and Partner, Titan Environmental Containment. "Simply stated, they brought peace of mind to Titan where traditional banks couldn't. Building a global company is tough and riddled with risk. EDC not only provided necessary funding, but have been invaluable in also providing insurance, education, and networking opportunities providing a whole other layer of support."
Geosynthetics are highly versatile construction materials made from polymer and used in road construction, water and waste management and agriculture, among other sectors.
Whether it's to retain drinking water, prevent soil contamination at waste management sites or reduce aggregate use in road construction, geosynthetics are increasingly being used to help protect the environment, preserve natural resources, and reduce carbon footprints, while limiting costs associated with essential urban projects. According to a report released by Transparency Market Research in February, the geosynthetics market could be worth more than USD$20 billion by 2023 as a result of an increasing number of infrastructure projects in developing economies.
"Titan is a great example of the vast talent and innovation happening in Canada's cleantech sector," said Carl Burlock, Executive Vice President and Chief Business Officer, EDC. "Still, many of the businesses require support especially when scaling and entering new markets, which is exactly what our products, like direct loan financing, provide."
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to take on the world with confidence. Underlying all our support is a commitment to sustainable and responsible business.
For more information and to learn how we can help your company, call us at 1-888-434-8508 or visit www.edc.ca.
SOURCE Export Development Canada
For further information: Spokesperson, Shelley Maclean, Export Development Canada, (613) 597-7988, [email protected]