The Government of Canada grants a $285,000 repayable contribution to the Eastern Townships company
SHERBROOKE, QC, March 15, 2019 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)
Technologie Demtroys, a growing high-tech company, is a leader in heating-cost savings for the multi-residential market. To sustain the company's growth, a repayable contribution of $285,000 from Canada Economic Development for Quebec Regions has been awarded to it. Technologie Demtroys has used this financial assistance to develop its product portfolio to maintain its cutting-edge product offering and to embark upon its expansion into the American market.
The funding was announced today by the Honourable Marie-Claude-Bibeau, Minister of Agriculture and Agri-Food. Specifically, the Government of Canada's assistance has enabled Technologie Demtroys to increase its innovation capacity and obtain certification for the American market, increase its promotional activities, and pay consulting fees for the development and marketing of its product.
Founded in 2010, Technologie Demtroys operates in the information technology and energy-efficiency microelectronics industry. The company, which is highly innovative and has enjoyed continuous expansion, manufactures a heating control system for multi-residential buildings. The system offers a solution to the problem of overheating in residential buildings by automatically adjusting the heating capacity to the external temperature, making it possible to save up to 40% in heating costs. It has been installed in over 10,000 apartments in Canada and the company's clients include some of the biggest managers of private and social-housing buildings in the country.
The Government of Canada is committed to supporting innovative Canadian companies. Innovation is a true economic driver and the key to success, because it generates growth that benefits companies and communities. This is why we are ensuring that companies can count on appropriate resources to create and market innovative products.
"The Government of Canada has created an ambitious approach to support innovative companies that invest in the development of new markets. I am proud of our support of Technologie Demtroys, a successful company that looks to the future and is making its mark well beyond our region."
The Honourable Marie-Claude-Bibeau, Minister of Agriculture and Agri-Food
"By helping companies like Technologie Demtroys invest in the development of new technologies that will increase profitability, and in marketing strategies that will introduce them to new markets, the Government of Canada is honouring its commitments to drive expansion, innovation and exports."
The Honourable Navdeep Bains, Minister responsible for CED
"Ever since the launch of Technologie Demtroys, we have benefitted from the support of CED through two financial contributions: one for our launch and another to accelerate innovation and marketing abroad. This assistance has truly been vital to the company's development and we view it in terms of a financial partner that has changed our entire way of doing things."
Jean-Sébastien Cyr, President and founder, Technologie Demtroys
- 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 was awarded through CED's Quebec Economic Development Program. 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 participating in regional economic development in Quebec: half a century of concrete action targeting the growth of Quebec's regions and businesses.
SOURCE Canada Economic Development for Quebec Regions
For further information: Media Relations, Canada Economic Development for Quebec Regions, 514-283-7443, [email protected]