Government of Canada announces over $1.1 million to Accelovant Technologies Corporation to position Canada as a global leader in the semiconductor industry
Funding will allow Accelovant to expand production of key components used in the semiconductor industry
October 28, 2022 – North Vancouver, British Columbia – Pacific Economic Development Canada
Semiconductors, often called chips or microchips, are critical to Canada's national security, economy and technological interests. Canadians rely on semiconductors every time we drive a car, take a plane, or use a telephone.
The Government of Canada recognizes that issues around semiconductor supply have an impact on all sectors of the economy and affects the production of automobiles, consumer electronics and medical devices.
The Government of Canada is collaborating with Canadian businesses to strengthen Canada's position in the industry. Today, the Honourable Jonathan Wilkinson, Minister of Natural Resources on behalf of the Honourable Harjit S. Sajjan, Minister responsible for PacifiCan, announced $1,146,483 in funding to Accelovant Technologies Corporation.
This funding, provided through PacifiCan’s Jobs and Growth Fund, will help Accelovant meet the global need for semiconductors. Accelovant will enhance their capacity to develop and export sensors needed by the semiconductor industry by increasing staff, purchasing new equipment, expanding their facility and growing their business.
Last year, the Government of Canada created PacifiCan, a dedicated federal regional economic development agency for British Columbia. PacifiCan promotes growth and diversification in British Columbia’s economy by enhancing innovation, improving business competitiveness, and promoting inclusive growth.
Today’s announcement is supporting the Government of Canada’s priorities of becoming a leader in the semiconductor industry and helping innovative companies seize international markets while growing here at home.
“Our government wants Canada to be a strategic global leader in the semiconductor industry and we recognize the importance of creating jobs and positioning local economies for long-term growth. Today’s announcement will allow Accelovant to continue filling an important role in the global semiconductor market and position this innovative B.C. business as a key contributor to Canada’s economy.”
- The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada
“Today, the Government of Canada is supporting an important innovator in the superconductor space. The work that Accelovant is doing is not only driving innovation and helping to supply the world with the technology it needs, but it is also creating good jobs right here in North Vancouver. I look forward to following Accelovant’s continued success.”
- The Honourable Jonathan Wilkinson, Minister of Natural Resources
“We are delighted to receive this financial support from our federal government, which will enable us to satisfy the growing worldwide demand for advanced fiber optic sensing technology. Between the global chip shortage, the US Chips and Science Act to build strategic capacity in the US, and Canada’s Semiconductor Action Plan, we have immediate need to scale Accelovant to meet demand. We are grateful to Ministers Sajjan and Wilkinson for their stewardship in securing this strategic funding, which will have a significant impact on the technology sector in Greater Vancouver, and help Canada establish a leadership position in this fast-growing sector.”
- Michael Goldstein, Chief Executive Officer, Accelovant
Accelovant’s flagship product is a fibre-optic, solid-state contact temperature sensor developed for semiconductor, industrial, and scientific measurement applications. Because fibre-optic sensors use light energy instead of electrical energy, they can be used in harsh environments where traditional technologies fail.
PacifiCan is the federal regional development agency dedicated to British Columbia. PacifiCan promotes growth and diversification in British Columbia’s economy by enhancing innovation, improving business competitiveness, and promoting inclusive growth.
The Jobs and Growth Fund provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.
Office of the Minister of Pacific Economic Development Canada
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