Atlantic Canada's ocean tech sector more than just a blip on the radar

News Release

Delegation heads to Ocean Business 2015, this year’s largest ocean technology show

April 13, 2015 – Moncton, NB – Atlantic Canada Opportunities Agency

With over 40,000 kilometres of shoreline within the four Atlantic provinces, there is little wonder the region has become home to companies and institutions that are world leaders in the ocean technology sector. This week, 19 of those companies are attending the Ocean Business 2015 exhibition and conference at the National Oceanography Centre in Southampton, UK, the year’s most important ocean technology training and procurement forum.

The companies are participating in the mission thanks in part to a $100,000 contribution from the Canada/Atlantic Provinces Agreement on International Business Development (IBDA). Organized by the Ocean’s branch of the Newfoundland Department of Business, Tourism, Culture and Rural Development, the mission aims to increase international business opportunities by showcasing and promoting Atlantic Canada’s expertise and capabilities through exhibition booths, on-water technology demonstrations, workshops and networking.

Atlantic Canada’s ocean technology industry consists of a few large companies and many small and medium-sized firms. A typical ocean technology firm employs 10-20 people and generates some $100,000 to $120,000 in average per employee sales annually. Canadian firms have established themselves as world leaders in ocean technology niches such as marine transportation, defence and security, fisheries and aquaculture, offshore oil and gas exploration, and ocean renewable energy. Key markets include China, the European Union, Israel, and the United States.

Quick Facts:

The ocean technology sector is part of the modern ocean economy. The Atlantic region is home to a wide range of scientific and engineering expertise, including shipbuilding, ocean observation, ocean mapping, charting, cold water engineering and geophysical surveying.
Newfoundland and Labrador’s ocean technology sector comprises companies, institutions, and organizations dedicated to ocean and marine related technology, education and training and research and development, and is home to world’s largest flume tank and ice testing basins.
Nova Scotia has an active R&D community focused on harnessing innovation, infrastructure, people and knowledge, including 450 PhDs in ocean-related disciplines, the world’s highest concentration of ocean technology researchers.
Ocean Business 2015 will host nearly 350 exhibitors, provide 180 hours of in-class training and demonstration sessions, and welcome 5000 international visitors from over 50 countries.
The IBDA is a federal/provincial agreement between the Government of Canada (ACOA, Foreign Affairs, Trade and Development Canada, and Industry Canada) and the four provincial governments in Atlantic Canada and is designed to help Atlantic Canadian businesses enter, explore and succeed in international markets. The IBDA is a key component of a pan-Atlantic effort to foster business relations, attract foreign investment and nurture technological co-operation.

Quotes:

“Our Government is committed to helping Atlantic Canadian businesses enter markets with high-growth potential, and the ocean technology sector holds significant potential for our Atlantic companies. The development and growth of the ocean technology sector in Atlantic Canada is fostering job creation, economic growth and long-term prosperity, which are top priorities for our Government.”

- The Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency)

Associated Links:

Background:

Newfoundland and Labrador participants:

Kraken Sonar Systems Inc.

www.krakensonar.com

GRI Simulations Inc.

www.grisim.com

SubC Imaging

www.subcimaging.com

Whitecap Scientific Corporation

www.rov3d.com