Government of Canada boosts growth and innovation with support for TECHÉOL
Bas-Saint-Laurent business receives $400,000 in financial assistance from CED.
Sayabec, Quebec, March 9, 2023 – Canada Economic Development for Quebec Regions (CED)
Supporting growth and innovation contributes to economic development in Quebec’s regions. That is why the Honourable Pascale St‑Onge, Minister of Sport and Minister responsible for CED, today announced a repayable contribution of $400,000 for TECHÉOL Inc. This CED support has enabled the SME to acquire specialized equipment such as suspended platforms and lifting equipment to be able to complete repair work at heights.
TECHÉOL specializes in wind turbine maintenance. It offers a complete service that covers major components (electromechanical engineering), blades (composite materials and fiberglass), and optimization. Its expertise ranges from the commissioning of newly installed wind turbines to the repair of equipment already in service. Thanks to its new specialized equipment, the business will be able to grow and become more competitive, including by decreasing equipment moving costs. Through this project, it will also have the opportunity to open new markets, mainly in Ontario and Alberta.
The Government of Canada recognizes and supports innovative businesses and organizations that are a source of pride in their communities. Quebec’s economic recovery relies, among other things, on organizations with strong roots in the regional economy. Innovation is a major contributor to growth, as well as a key asset in rebuilding a stronger, more resilient, greener, and more just economy for all.
“Our mission is to help businesses equip themselves with what they need to remain competitive and prosper. Thanks to our government’s financial assistance, TECHÉOL will be able to continue to innovate in a cutting-edge field—helping in the development of green technologies—and strengthen its position in the industry and on the markets. This support will thereby benefit the entire Bas‑Saint‑Laurent region and enable the Canadian economy to remain strong, resilient, and sustainable.”
The Honourable Pascale St‑Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
“This financial support contributes to our vision of bringing to the industry a full scope of value-added services not only for wind turbines, but also for all types of renewable energy. Wind farm owners and operators, as well as turbine manufacturers, will be able to benefit from a range of top‑notch services, with cutting-edge equipment and technology.”
Eric Dugas, Co-owner and Director of Business Development and innovation, TECHÉOL
- The funds have been granted under CED’s Regional Economic Growth through Innovation program. This program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
- In Quebec, SMEs account for 99.7% of the province’s businesses and 50% of its GDP.
- CED is a key federal partner in Quebec’s regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow’s economy.
Canada Economic Development for Quebec Regions
Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions
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