Corruven Canada Inc. Receives Federal Funds to Research and Design Green TechnologyStart-up looks to meet demand for lightweight composite wood materials Jenny Keleher September 12, 2016
Saint-Basile, NB – September 12, 2016
This research project will help the company develop new markets for its packaging and bed platform products in Canada and in the United States, strengthen its position as a leader in wood product innovation, and will also create ten new jobs for the region.
The Government of Canada is providing a conditionally-repayable contribution of $2 million through ACOA’s Atlantic Innovation Fund (AIF) as well as $2.475 million through the Investments in Forest Industry Transformation (IFIT) Program delivered by Natural Resources Canada (NRCan).
This funding commitment complements the Government of Canada’s Innovation Agenda, which is designed to make Canada a global centre for innovation—one that creates jobs, drives growth across all industries and improves the lives of all residents.
This project also builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, which will provide strategic investments in resource-based industries to stimulate the region’s economy and increase job opportunities for Atlantic Canadians.
Over the coming weeks, additional investments through AIF totalling up to $16.8 million will be announced, bringing the total AIF investments in Atlantic Canada in 2016 to over $38 million.
“The Government of Canada is committed to promoting clean growth, and driving innovation to transition to a low-carbon economy, particularly in Atlantic Canada’s resources based-industries. Supporting clean technology projects, such as this one with Corruven Canada, will help diversify the region’s economy, open up new markets, reduce carbon emissions and create good jobs for Atlantic Canadians.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“We are pleased to be investing in the entrepreneurial spirit and ingenuity of Canadians. These investments help Canada’s forest sector become more competitive while creating employment opportunity and prosperity for Canadians. Projects like these are transforming the forest sector into an innovative and environmentally sustainable part of Canada’s economy, and play an important role in our government’s response to climate change.”
– The Honourable Jim Carr, Minister of NRCan
“Innovation is critical to Atlantic Canada’s economic success. The Government of Canada is committed to supporting innovation that will increase the productivity, growth and competitiveness of businesses. That is why we will continue to invest in companies such as Corruven Canada that are developing new technologies to help them grow and generate wealth in their community.”
– René Arseneault, Member of Parliament for Madawaska-Restigouche
“Using innovative practices, Corruven aims to inspire other businesses on new approaches for smart growth and commercialization to meet the challenges of international market competitiveness. We are particularly proud of this federal assistance for the fact that it shares our vision of the importance of investing in, and positioning yourself within the advanced materials market.”
– Alain Bélanger, President, Corruven Canada Inc.
- Corruven’s patented lightweight technology produces building materials that are 75% lighter and six times stronger than traditional products.
- This project will help reduce Greenhouse gas emissions as Corruven’s lighter, more compact panels require less energy to produce and can be transported more efficiently.
- NRCan’s IFIT program aims to accelerate the commercialization of highly innovative, first-in-kind technologies at Canadian forest industry facilities.
- Atlantic Growth Strategy
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Atlantic Canada Opportunities Agency
Corruven Canada Inc.
Corruven Canada Inc. – Saint-Basile, NB
ACOA assistance: $2,000,000 (AIF conditionally-repayable)
Other Federal Funding: $2,475,000 (NRCan IFIT Program)
Proponent Funding: $2,025,000
Total Project Costs: $6,500,000
Corruven Canada Inc. manufactures high performance corrugated wood products for packaging, furniture, architectural, and building materials. The company developed the Corruven® technology which combines wood’s natural strengths, green chemistry, and a corrugated shape to create innovative products. The company’s main facility is located in Saint-Basile, NB.
Through this project, Corruven Canada will research, design, and build the first industrial scale corrugating line that can create corrugated wood products from veneer rejects. The main activities include developing a new press line and research on advanced wood processing.
The project will enable the company to grow its research activities and to strengthen its position as a leader in wood product innovation. In addition, it will enable the company to develop new markets for its packaging and bed platform products in Canada and the US. The project will lead to the immediate creation of 10 new jobs with the possibility of 14 additional jobs depending on the success of the project.
ACOA’s Innovation Programming
ACOA’s innovation programming, which includes the Atlantic Innovation Fund and the Business Development Program, responds to the evolving needs of Atlantic businesses and researchers. It is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy. These programs also provide support to small and medium-sized enterprises across the region to acquire or adapt innovative technologies that can improve their productivity and competitiveness, while also enabling them to build the skills they need to innovate and compete in today’s global economy.
Since January 2016, the Government of Canada through ACOA, has announced investments of over $21 million for 11 innovation and R&D projects in the Atlantic region. New investments totaling up to $16.8 million will be announced over the coming weeks, bringing ACOA’s total investments for innovation projects in 2016 to over $38 million.