August 05, 2009, London, Ontario
Mr. Joe Preston, Member of Parliament for Elgin-Middlesex-London, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology), today announced a contribution to CVD Diamond Corporation from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
The funding supports an innovative research and development project that will assist CVD Diamond in developing innovative technology to improve manufacturing processes that reduce costs and improve efficiency.
"Our government is committed to building a competitive advantage for the Canadian private sector and supports these leading-edge technology solutions," said Mr. Preston. "The Government of Canada is investing in science and technology to create jobs, strengthen the economy and improve Canadians’ quality of life."
This $143,984 contribution will support the London-based company in researching, developing, and commercializing state-of-the-art diamond-coating technologies for milling ends and other cutting tools.
"Investing in science and technology is critical for developing highly skilled people and improving the long-term competitiveness of Canadian firms," said NRC President Dr. Pierre Coulombe. "That's why NRC-IRAP is helping innovative Canadian businesses such as CVD Diamond grow stronger, faster and bigger."
CVD Diamond’s products are used for machining a wide range of materials, including graphite, composites, carbon fibre, fiberglass, ceramics, and abrasive aluminum alloys.
"NRC-IRAP is playing an important role in the success of the company," said Joe Brennan, President and CEO of CVD Diamond Corporation. "The financial support we are receiving from NRC-IRAP will help us continue to innovate high-tech solutions for the global marketplace."
About NRC and NRC-IRAP
The NRC Industrial Research Assistance Program (NRC-IRAP) provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian small- and medium-sized enterprises.
The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. NRC-IRAP is committed to working with small- and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.
The Government of Canada’s Economic Action Plan has provided new resources of $200 million over the next two years to bolster NRC-IRAP support for innovative Canadian firms. To learn more about Canada’s Economic Action Plan, visit www.actionplan.gc.ca.
National Research Council Canada Industrial Research Assistance Program (NRC-IRAP)
NRC's main outreach to small- and medium-sized enterprises (SMEs) is through its Industrial Research Assistance Program (NRC-IRAP) which provides support to innovative companies in Canada undertaking research and technology development projects for commercial purposes.
NRC-IRAP provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative Canadian SMEs. The program is delivered by a field staff of 240 business and technology experts in more than 100 communities across Canada. Working directly with SMEs, NRC-IRAP supports innovative research and development (R&D) and helps companies become commercialization-ready with their new products and services.
While the program operates three separate contribution programs — contribution to firms, contribution to organizations and a Youth Employment Program — NRC-IRAP’s main contribution component is in the form of a non-repayable contribution that reimburses the labour costs of a research and development project directly to firms.
Science at work for Canada
NRC-IRAP received an investment in Budget 2009, Canada’s Economic Action Plan, of $200 million over the next two years. This is new money. NRC-IRAP is committed to using this new funding to help the Government build a competitive advantage for Canada based on excellence in science and technology (S&T).
The funding includes $170 million to double NRC-IRAP’s contributions to firms and $30 million to help hire more than 1,000 new post-secondary graduates via its Youth Employment Program.
The budget commitment reinforces NRC-IRAP’s mandate to help SMEs take knowledge from the lab to the marketplace. The budget commitment also broadens NRC-IRAP’s ability to provide S&T expertise to SMEs. NRC-IRAP estimates that this new money will allow it to support approximately 1,400 additional SMEs over the next two years.
CVD Diamond Corporation
CVD Diamond Corporation researches, develops, and commercializes state-of-the-art diamond-coating technologies for milling ends and other cutting tools. While diamond can be used for a number of applications due to its unique physical properties, CVD Diamond concentrates on exploiting its extreme hardness and wear-resistance. The company focuses on diamond coatings for machining non-ferrous abrasive materials, which helps to improve the shelf life of tools.
The London-based company’s products are used for machining a wide range of materials, including graphite, composites, carbon fibre, fiberglass, ceramics, and abrasive aluminum alloys.
This $143,984 contribution from NRC-IRAP supports an innovative research and development project that will assist CVD Diamond in developing innovative technology to improve manufacturing processes that also reduce costs and improve efficiency.
