SiliCycle will be able to ramp up its innovation and commercialization efforts

The Government of Canada awards $1M in funding to this Québec City business

QUÉBEC CITY, Nov. 15, 2018 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

SiliCycle is a leader in the development, manufacturing and commercialization of innovative silica-based products. The company wants to diversify its markets through the development and commercialization of products resulting from the conversion of residual biomass. In this context, SiliCycle will receive a repayable contribution of $1M from Canada Economic Development for Quebec Regions.

The funding was announced today by the Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development. The assistance from the Government of Canada will allow SiliCycle to purchase specialized equipment and conduct business development activities abroad, to continue its growth. This project is expected to result in the creation of 10 jobs by 2019.

SiliCycle designs several lines of patented products, including silica-based research and production tools, which it markets in over 80 countries. SiliCycle's range also includes products resulting from the conversion of residual biomass, which contributes to supporting sustainable development and clean economic growth, while generating positive socio-economic impacts in a number of Quebec's regions.

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 ensure that businesses are able to rely on adequate resources to create and market innovative products.

Quotes

"It is important to support entrepreneurial thinking, especially when the knowledge and ingenuity of our entrepreneurs lead directly to the development of green technologies and solutions. We are proud to support SiliCycle, which is promoting Quebec know-how beyond borders. I am also delighted to know that this project will result in the creation of quality jobs in a Québec High Tech Park business."

The Honourable Jean-Yves Duclos, Member of Parliament for Québec and Minister of Families, Children and Social Development

"The Government of Canada has made concrete commitments to demonstrate that a clean environment and a strong economy go hand in hand. One of those commitments is to invest strategically, including in clean technologies and products resulting from the conversion of residual biomass." 

The Honourable Navdeep Bains, Minister responsible for CED

"SiliCycle's growth strategy is ambitious: we are aiming to double our sales in two years. CED's financial assistance will help boost our innovation and commercialization capacity, which is sure to put us in a good position to achieve our objectives."   

Hugo St-Laurent, President and Chief Executive Officer, SiliCycle

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 comes from CED's Quebec Economic Development Program. For more information on CED and its priorities, consult the 2018−2019 Departmental Plan or visit www.dec-ced.gc.ca.
• The year 2018 marks the 50^th anniversary of federal 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 Regions, 514-283-7443, [email protected]