FedDev Ontario Supports Environmentally-Responsible Technology
$225,000 for Cornwall-based green tech company to scale up and compete globally
January 22, 2019 - Cornwall, Ontario
A clean environment and a strong economy go hand in hand. The Government of Canada is investing in Cornwall’s Food Cycle Science, which provides an eco-friendly solution to divert food waste from landfills.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced a FedDev Ontario contribution of up to $225,000 that has helped Food Cycle Science scale up and further commercialize its FoodCycler—a composting unit that reduces kitchen food waste by up to 90 percent by transforming it into a nutrient-rich soil fertilizer.
FedDev Ontario funding has allowed Food Cycle Science to expand marketing activities to sell its innovative on-site waste disposal technology in new markets and create up to three additional full-time jobs.
This investment in Food Cycle Science’s environmentally-responsible technology allows the company to divert food waste from landfills and reduce greenhouse gas emissions, which contributes to a healthier environment for Canadians.
“Investments such as the one we are celebrating today are supporting Canada’s transition to a greener economy. By investing in innovative companies, such as Food Cycle Science, we are supporting companies that are ready to expand and compete globally, without compromising sustainability, which will pave the way to economic growth, jobs and opportunities in the long term.”
— The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“Through the commitment of angel investors and the support of the Government of Canada, Food Cycle Science has been able to commit to a global mindset in its growth strategy for the future. I believe that we are well positioned to compete internationally and reshape how consumers and businesses approach the growing food waste problem.”
— Bradley Crepeau, Chief Executive Officer, Food Cycle Science
Food Cycle Science is the result of two visionary entrepreneurs who decided to introduce green technology to the growing problem of methane emissions caused by the abundance of food waste going to landfills.
FedDev Ontario's repayable contribution of up to $225,000 has leveraged funding through a group of angel investors who are members of the Capital Angels Network and the Southeastern Ontario Angel Network, as well as the Cornwall and the Counties Community Futures Development Corporation (CFDC).
The Government of Canada has set aside more than $2.3 billion to boost the growth of Canada’s clean tech space, which is the largest public investment ever committed to this field in Canada.
FedDev Ontario is now accepting new projects, using a single application form, through three simplified funding streams that have been designed to meet the needs of innovators and job creators. For more information, visit www.FedDevOntario.gc.ca.
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