Government of Canada invests over $3.7 million to drive innovation and economic growth in Burnaby
PacifiCan funding will help local companies advance cleantech solutions with a global impact
November 13, 2024 – Burnaby, British Columbia – PacifiCan
Burnaby is one of British Columbia’s most dynamic business hubs, known for its thriving tech sector and highly skilled workforce. Innovative local companies and forward-thinking leaders are creating sustainable solutions that are transforming global industries, from mining to transportation. PacifiCan is committed to partnering with these companies to support their ambition and growth.
Today, the Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North–Seymour on behalf of the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $3.7 million in PacifiCan funding for three Burnaby-based companies to grow locally, compete globally and elevate B.C.’s reputation as an innovation powerhouse.
Minister Beech made the announcement while visiting pH7 Technologies Inc., a critical metal processing company receiving $1.5 million in funding through PacifiCan’s Business Scale-up and Productivity program. PacifiCan funding will enable pH7 Technologies to purchase and install new equipment for its specialized metal extraction process. The company’s innovative process offers an economical and sustainable way to extract critical metals from recycled materials, which are vital for the global transition toward clean energy.
Compared to traditional methods like smelting, pH7 Technologies’ critical metal extraction system uses significantly less water and energy and produces no greenhouse gas emissions. PacifiCan’s investment will allow the company to increase its production capacity in Burnaby and meet the growing demand for affordable, renewable energy options.
Minister Beech also announced PacifiCan funding for two other Burnaby businesses. PosiTrace, a supplier of fleet management and GPS tracking solutions, is receiving $1,230,000 in funding through PacifiCan’s Business Scale-up and Productivity program. PosiTrace’s innovative reporting software provides businesses with real-time visibility into vehicle location and route analytics, which improves productivity and reduces costs and fuel consumption. PacifiCan funding will help PosiTrace expand its local operations and create new jobs.
Rigid Robotics Inc. is receiving $975,000 through PacifiCan’s Jobs and Growth Fund to further develop its AI-powered cloud platform and application technology for the mining industry. Rigid Robotics’ technology provides real-time data insights and analysis which helps mining companies boost operational efficiency and human safety while reducing emissions.
The investments announced today are expected to help create 47 jobs, grow the Burnaby and regional economy and drive a more sustainable future for British Columbians.