Jul 10, 2019, 14:25 ET
Investment will build Canadian expertise in atomically precise manufacturing and create hundreds of high-skilled jobs
OTTAWA, July 10, 2019 /CNW/ - Securing Canada's global leadership in advanced manufacturing is an important part of the Government of Canada's plan to build an economy that works for everyone. That's why the Government is investing in CBN Nano Technologies' venture to become the first in the world to commercialize technology that manufactures products at the atomic level—in other words, using the smallest building blocks of our physical world.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced a $40-million investment in CBN Nano Technologies (CBNNT), a company engaged in cutting-edge research into the commercialization of technology that allows atomically precise manufacturing.
CBNNT is a sister company of Canadian Bank Note Company, Limited (CBN), a Canadian-owned, Ottawa-based, globally focused company that designs and builds high-tech secure solutions for government identification, currency and lottery markets worldwide. Globally, the company employs 1,600 people, with approximately 1,000 in Canada.
CBN's $220-million nanotechnology project will be the first in the world to undertake atomically precise manufacturing on a commercial scale. Fabricating products with every atom in the right place will revolutionize manufacturing and has specific applications in CBN's core business through the development of new nanoscale fraud-proof security features.
Beyond CBN's core business, this new technology will establish Canada as the global leader in advanced manufacturing processes in a variety of sectors. For example, it will also have potential applications in advanced health care treatments, reducing pollution, building high-performance computing capabilities and producing super-efficient solar energy.
Thanks in part to this investment, CBNNT and CBN will create 469 new jobs, 364 of which will be highly skilled. Canadian students and researchers will also benefit from more co-op positions, more collaboration with post-secondary institutions, greater investment in research and development, and more intellectual property developed in Canada.
CBNNT's project to commercialize atomically precise manufacturing will help make Canada a leader in tomorrow's manufacturing technology.
Quotes
"Nanotechnology and nanomanufacturing represent the next frontier for advanced manufacturing, and they are being developed by Canadian innovators today, right here in Ottawa. This investment will create hundreds of highly skilled jobs and make a difference in Canadians' lives by improving health care treatments, protecting Canadians against fraud and helping produce super-efficient solar energy."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"CBN is making the largest R&D investment in its more than 120-year history in this nano project. We are grateful that the Government of Canada has recognized the value of our innovative research to Canada and the global community. This project has the potential to put Canada in a pre-eminent position leading the next-generation manufacturing economy."
– Ron Arends, President and CEO, Canadian Bank Note Company, Limited
Quick facts
- CBN Nano Technologies was incorporated in 2017 and is based in Ottawa. Its sister company, Canadian Bank Note Company, Limited, was founded in 1897 and today designs and develops secure, leading-edge technology products, such as enhanced passports and currency, for governments (including the Government of Canada).
- This investment is made through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments in Canada's most dynamic and innovative sectors.
- In addition to the Strategic Innovation Fund, there are hundreds of programs and services to help businesses innovate, create jobs and grow Canada's economy. With a simple, story-based user interface, the Innovation Canada platform can match businesses with the most fitting programs and services in about two minutes.
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SOURCE Innovation, Science and Economic Development Canada
For further information: Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, ic.mediarelations-mediasrelations.ic@canada.ca
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