Innovative high-growth Burnaby businesses to receive Government of Canada support & More News Here

Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister accountable for the Pacific Economic Development Agency of Canada (PacifiCan), introduced over $11.1 million in funding for 4 revolutionary firms within the life sciences, clear expertise and digital expertise sectors.

Minister Sajjan made the announcement at Burnaby-based Kardium Inc., a number one life sciences firm. In 2021, Kardium was named medical expertise firm of the 12 months by Life Sciences BC.

The Minister’s announcement included Business Scale-up and Productivity (BSP) funding of $5 million for Kardium. This funding will assist Kardium enhance manufacturing capability at its Burnaby facility to support worldwide gross sales of its Globe system. The Globe system is a medical system for the remedy of atrial fibrillation, a typical coronary heart rhythm dysfunction. It is anticipated that this funding will end in elevated gross sales, income and the creation of 350 new jobs.

Minister Sajjan additionally introduced support to three different firms.

HTEC will even receive $5 million in BSP funding. HTEC designs, builds and operates hydrogen gasoline provide options to support the deployment of hydrogen gasoline cell electrical automobiles. The firm at present has 17 stations at numerous levels of operations, growth and planning in B.C., Alberta, Quebec, and California.

With the funding, the corporate plans to construct a inexperienced hydrogen manufacturing plant in Burnaby, BC. This plant will likely be ready to produce 1000 kg of hydrogen a day, which can assist support its present fueling stations and add extra ones. This funding will spur income progress and is anticipated to create 10 direct and extra oblique jobs.

Kobalt Security Inc. can also be receiving $530,025 by way of the BSP program. Kobalt offers cyber safety applications for SMEs. With this funding, Kobalt will have interaction in an bold growth of its providers into the US and different English-speaking international locations. The firm expects this growth to create 60 new jobs.

Symvivo Corporation will receive $650,000 in BSP support. Symvivo is a clinical-stage biotechnology firm that has developed a bacterial gene supply platform that makes use of engineered reside micro organism to ship genetic materials into illness websites.

With the BSP funding, the corporate will buy and set up new gear, purchase laboratory supplies and rent extra employees to develop in-house bio-manufacturing capability at its present facility in Burnaby. This funding will enhance income and create 20 new jobs.

Promoting innovation is a precedence for PacifiCan. These investments will generate jobs and progress within the life sciences and digital expertise sectors.

Quote(s)

“With the creation of PacifiCan, B.C. companies have a partner they can rely on. These investments are an example of this commitment and will allow these innovative companies to scale up their businesses, providing jobs and helping create a stronger B.C. economy.”
–       The Honourable Harjit S. Sajjan, Minister of International Development and Minister accountable for the Pacific Economic Development Agency of Canada

“We are very excited to receive the BSP funding from PacifiCan.  This funding will help Kardium build a new, state of the art cleanroom manufacturing facility for our Globe System, right here in Burnaby.  We plan to grow our team to manufacture the Globe Systems that will be used in our pivotal clinical study and worldwide commercial launch.”
–       Kevin Chaplin, CEO, Kardium, Inc.

“Kobalt.io is excited to be partnering with PacifiCan to further accelerate our growth in US and overseas markets. Closer to home, Canadian clients working with Kobalt.io benefit from improved cybersecurity, which enables them to focus on their core business and accelerate growth and hiring.”
–       Michael Argast, CEO and Co-founder, Kobalt.io

“The BSP program adds the manufacturing capabilities and essential scale required for Symvivo to expand our partnerships and continue the development of our innovative medicines.  We are greatly appreciative of the support.”
–       Alexander Graves, CEO, Symvivo

“Having designed and built the first hydrogen fueling station network in BC, HTEC is continuously working on innovative solutions to get us closer to the net zero goal by 2050. And advancing low-carbon hydrogen projects will allow us to significantly reduce our emissions and air quality. Specifically, this green-hydrogen production facility will enable the deployment of more than 2,000 hydrogen electric cars in BC and will lead to more than 70,000 tonnes of CO2 emissions reduction over a ten-year period.”
–       Colin Armstrong, President and CEO, HTEC

Quick information

• PacifiCan is the regional growth company devoted to British Columbia. PacifiCan promotes progress and diversification in British Columbia’s financial system by enhancing innovation, bettering enterprise competitiveness, and selling inclusive progress.
• The Business Scale-up and Productivity (BSP) program makes strategic investments in key financial sectors, serving to revolutionary firms speed up their progress and compete globally.

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SOURCE Pacific Economic Development Canada

For additional data: Haley Hodgson, Press Secretary, Office of the Minister of Economic Development, [email protected]; Ben Letts, Communications Manager, Pacific Economic Development Canada, [email protected]; Toll-Free Number: 1-888-338-9378, TTY (telecommunications system for the listening to impaired): 1-877-303-3388

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