Corruven Canada Inc. Receives Federal Funds to Research and Design Green Technology

News Release

Start-up looks to meet demand for lightweight composite wood materials 

September 12, 2016 – Saint-Basile, NB – Atlantic Canada Opportunities Agency 

Corruven Canada Inc. plans to build the first industrial scale corrugating line to create its high-end building materials, furniture and packaging using rejected wood fibers, thanks to investments from the Government of Canada totalling $4.475 million. 

René Arseneault, Member of Parliament for Madawaska – Restigouche, on behalf of both the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Jim Carr, Minister of Natural Resources Canada (NRCan), today joined company officials onsite at their new location in Saint-Basile to make the funding announcement.  

This research project will help the company develop new markets for its packaging and bed platform products in Canada and in the United States, strengthen its position as a leader in wood product innovation, and will also create ten new jobs for the region. 

The Government of Canada is providing a conditionally-repayable contribution of $2 million through ACOA’s Atlantic Innovation Fund (AIF) as well as $2.475 million through the Investments in Forest Industry Transformation (IFIT) Program delivered by Natural Resources Canada (NRCan).  

This funding commitment complements the Government of Canada's Innovation Agenda, which is designed to make Canada a global centre for innovation—one that creates jobs, drives growth across all industries and improves the lives of all residents. 

This project also builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, which will provide strategic investments in resource-based industries to stimulate the region’s economy and increase job opportunities for Atlantic Canadians. 

Over the coming weeks, additional investments through AIF totalling up to $16.8 million will be announced, bringing the total AIF investments in Atlantic Canada in 2016 to over $38 million. 

Quotes 

“The Government of Canada is committed to promoting clean growth, and driving innovation to transition to a low-carbon economy, particularly in Atlantic Canada’s resources based-industries. Supporting clean technology projects, such as this one with Corruven Canada, will help diversify the region's economy, open up new markets, reduce carbon emissions and create good jobs for Atlantic Canadians.”

- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“We are pleased to be investing in the entrepreneurial spirit and ingenuity of Canadians. These investments help Canada’s forest sector become more competitive while creating employment opportunity and prosperity for Canadians. Projects like these are transforming the forest sector into an innovative and environmentally sustainable part of Canada’s economy, and play an important role in our government’s response to climate change.”

- The Honourable Jim Carr, Minister of NRCan

“Innovation is critical to Atlantic Canada’s economic success. The Government of Canada is committed to supporting innovation that will increase the productivity, growth and competitiveness of businesses. That is why we will continue to invest in companies such as Corruven Canada that are developing new technologies to help them grow and generate wealth in their community.”

- René Arseneault, Member of Parliament for Madawaska-Restigouche
 

“Using innovative practices, Corruven aims to inspire other businesses on new approaches for smart growth and commercialization to meet the challenges of international market competitiveness. We are particularly proud of this federal assistance for the fact that it shares our vision of the importance of investing in, and positioning yourself within the advanced materials market.”

-  Alain Bélanger, President, Corruven Canada Inc.

Quick facts 

• Corruven’s patented lightweight technology produces building materials that are 75% lighter and six times stronger than traditional products.
• This project will help reduce Greenhouse gas emissions as Corruven’s lighter, more compact panels require less energy to produce and can be transported more efficiently.
• NRCan’s IFIT program aims to accelerate the commercialization of highly innovative, first-in-kind technologies at Canadian forest industry facilities. 

Related products 

• Corruven Canada Backgrounder

Associated Links 

• Atlantic Growth Strategy
• http://www.acoa-apeca.gc.ca/Pages/welcome-bienvenue.aspx
• http://www.nrcan.gc.ca/home
• http://corruven.com/

Follow ACOA on social media.
Twitter: @ACOACanada

Follow NRCan on social media.
Twitter: @NRCan

- 30 - 

Contacts

Lisa Gautreau
Acting Senior Communications Officer
Atlantic Canada Opportunities Agency
506-471-1565

Daniel Beauregard-Long
Director
Corruven Canada Inc.
506-740-3919

Search for related information by keyword

Hon. Navdeep Singh Bains Hon. James Gordon Carr Natural Resources Canada Atlantic Canada Opportunities Agency Economics and Industry