Gaspé, Quebec, July 15, 2008 – The Honourable Jean-Pierre Blackburn, Minister of Labour and Minister of Canada Economic Development, today announced that the firm Éocycle Technologies Inc. will receive $240,000 in repayable funding under the Business and Regional Growth program to develop an international marketing strategy for a new patented technology and phase in its implementation over two years.
A manufacturer of direct drive generators that convert the mechanical energy produced by wind turbines into electrical energy, Éocycle Technologies Inc. also designs power electronics converters that transform electricity into energy adapted to everyday needs. The firm's invention is based on the innovative adaptation of a transverse flux configuration and the use of permanent magnets in the generator assembly. This patented technology's very high low-speed torque eliminates the need for a gearbox on the wind turbine. The Transverse Flux Permanent Magnet (TFPM) generator developed by Éocycle Technologies Inc. is lightweight, maintenance free and stands up to even the most extreme climates.
"The Government of Canada is pleased to support Éocycle Technologies Inc. in its efforts to commercialize this innovative technology it has developed. Operating in the wind energy sector, this young enterprise faces fierce global competition. The value-added product it will be introducing to market will generate considerable economic benefits for the region while helping to diversify the local industrial base and further our government's sustainable development objectives. Moreover, this innovation promises to strengthen Canada's position as a world leader in the development of green energy solutions," stated Minister Blackburn.
This initiative results from the firm's development plan to establish a plant in Gaspé, acquire state-of-the-art equipment and pursue its research and development activities initiated in 2001. The expansion project, which will cost an estimated $4,958,000, is expected to lead to the creation of 10 new jobs over the next two years as well as the consolidation of the company's nine existing positions.
"This financial contribution to Éocycle Technologies Inc. is a good illustration of the Government of Canada's commitment to setting the kind of conditions in this country that will foster the competitiveness of our SMEs and help them increase their capacity to innovate, adopt leading-edge technologies and develop new markets," Minister Blackburn concluded.
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Sources:
Karina Gagnon
Communications
Canada Economic Development
Tel.: 418-368-6048 or 1-866-368-0044
E-mail: karina.gagnon@dec-ced.gc.ca
Pierre Miquelon
Office of the Honourable Jean-Pierre Blackburn
Canada Economic Development
Tel.: 514-496-1282
E-mail: pierre.miquelon@dec-ced.gc.ca
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