Richmond, British Columbia – Pacific Economic Development Canada
British Columbia’s small and medium-sized enterprises (SMEs) are critical to their communities – they create jobs, drive economic growth, and develop products and services that help solve local and global challenges.
The Government of Canada believes in these companies.
Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $7 million in funding to support two innovative companies in the clean & digital technology and advanced manufacturing sectors.
Minister Sajjan made the announcement at FPS Food Process Solutions (FPS), a Richmond-based business that provides customized freezing and cooling equipment for the food processing industry.
The Minister announced Business Scale-up and Productivity (BSP) funding of $2 million for the company. With this funding, FPS will commercialize its Spiral Immersion System technology. This technology allows for faster freezing and reduced energy consumption. It is anticipated that this investment will result in increased sales and revenue, and the creation of 40 new jobs.
Minister Sajjan also announced $5 million in BSP funding for RecycleSmart. The company develops and deploys advanced cloud-based waste and recycling container sensor systems that improve the process flow and efficiency of the waste industry.
With the funding, RecycleSmart will commercialize and scale-up production of their Pello waste-management system that uses wireless sensors and cloud computing to track waste bin data. The company anticipates the creation of 50 new jobs as a result of this project.
Promoting innovation is a priority for PacifiCan. These investments will generate jobs and growth in the sectors of clean & digital technology and advanced manufacturing and will create jobs for Canadians.