28 July 2010
Saint John, New Brunswick
Saint John MP Rodney Weston joined officials at Shift Energy Inc. today to highlight the company’s plans for the development of an innovative energy management system and the Government of Canada’s support for the initiative.
“Our Government, through ACOA’s Business Development Program (BDP) and the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), is investing a total of $285,575 to help Shift Energy develop an IT-based energy efficiency tool that will measure energy consumption, analyze usage and provide recommendations to commercial customers on how to efficiently consume energy,” said MP Weston, on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency and Minister responsible for the Atlantic Gateway. “This investment will help the company to strengthen its R&D capacity, create skilled jobs and open up new markets.”
Shift Energy Inc., located in Saint John, is a start-up company created to develop and commercialize a new energy conservation management solution. The system will provide real-time data over a networked information system by using multiple sensing devices, a unique data processing algorithm and advanced wireless communication technologies.
“The objective of our government’s focus on innovation is to get more of the region’s cutting edge R&D into the marketplace, boost business productivity and bottom lines, increase exports, and create good-paying jobs and overall economic growth,” said MP Weston. “It’s about good science, smart business and a great investment in the future of Atlantic Canada.”
“This support from ACOA and NRC-IRAP will allow Shift Energy to significantly accelerate the pace of our research and development efforts in this emerging area of IT-based energy management and conservation,” said Richard Jones, Shift Energy President and CEO. “Our unique solution to meeting the need for improved energy efficiency in commercial buildings leverages the strong base of Information Technology and engineering skills we have in the province.”
The Government of Canada, through ACOA, has invested $55,575 in the development of this new system under the Business Development Program (BDP), while NRC-IRAP invested $230,000 in the project.
NRC-IRAP provides a range of both technical and business- oriented advisory services along with potential financial support to qualified innovative Canadian small and medium- sized enterprises. In 2009, the Government of Canada’s Economic Action Plan has provided new resources of $200 million to the program over two years to support innovative Canadian firms.
FOR BROADCAST USE:
Saint John MP Rodney Weston joined company officials at Shift Energy today to announce federal funding to help the company develop an innovative energy management system.
The Government of Canada, through ACOA and the National Research Council, contributed over $285,575 toward the project. This investment will help the company strengthen its R&D capacity, create skilled jobs and open up new markets.
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INFORMATION:
Peggy Bélanger
Senior Communications Officer
ACOA New Brunswick
506-452-2466
Mr. Richard Jones
President and CEO
Shift Energy Inc.
506- 642-9422
Media Relations
National Research Council of Canada
613-991-1431
media@nrc-cnrc.gc.ca
