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Posted: Apr 16th, 2012
Government of Canada Invests in Mississauga Nanotechnology Firm
(Nanowerk News) The Honourable Christian Paradis, Minister of Industry, today announced a repayable government investment of $399,386 in a project by Integran Technologies Inc. The Mississauga-based company is developing innovative nano-structured aerospace and defence products that will offer superior performance while meeting the highest environmental standards. The contribution will be made through the Strategic Aerospace and Defence Initiative.
"By investing in innovative firms like Integran, our government is ensuring that Canada's aerospace and defence industry remains a global leader and continues to be a major contributor to our economy," said Minister Paradis. "This support will allow Integran to realize new market opportunities in an emerging market segment."
Integran's project will result in the creation of next-generation metal alloys that are more robust and free from toxic beryllium copper. This will help expand the company's product line and its customer base. As part of the initiative, Integran will collaborate with graduate-level engineering students from the University of Toronto.
"Since being founded over 12 years ago, Integran has been committed to developing environmentally benign alternatives to toxic materials and processes," said Gino Palumbo, Integran's President and CEO. "Integran is confident that through this program, our core patented nanotechnology can be optimized and demonstrated to be a viable, cost-effective alternative to the alloying of copper with toxic beryllium-a strengthening process that remains in widespread use for various industrial, aerospace and defence applications."
In addition to the Government of Canada's investment, Integran received support in 2011 from the U.S. Department of Defense through its Strategic Environmental Research and Development Program.
Canada's Strategic Aerospace and Defence Initiative supports industrial research and pre-competitive development projects in the aerospace, defence, space and security industries. The Government of Canada has invested more than $825 million in the aerospace and defence industry through this initiative. These investments are expected to leverage an additional $1.8 billion.
In February, the government launched a comprehensive review of the aerospace and space sector. The review is exploring how government and industry can address the key issues facing this sector, such as innovation, market access, skills development, procurement and supplier development.
Economic Action Plan 2012 commits $1.1 billion over five years to directly support business innovation and makes available $500 million for venture capital to realign the government's approach to promoting innovation and create better opportunities for businesses. This includes helping high-growth firms access risk capital, increasing direct support for business innovation, supporting private and public research collaboration, supporting innovation through procurement, refocusing National Research Council Canada, and improving the Scientific Research and Experimental Development tax incentive program.
Source: Industry Canada (press release)
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