Ontario’s $1.3 Million Loan Funds Water Purification Project
04/30/2012
The firm, headquartered at 1480 Sandhill Drive in Ancaster's Business Park, a town southwest of Hamilton, Ontario and Toronto, estimates it will create up to 70 jobs in the province.
FibraCast developed an innovative membrane technology for purifying drinking water and treating wastewater that costs less than half as much to produce as competing products, a company spokesman said. As FibraCast's new purification system will be significantly less expensive than most non-membrane filtration technologies, it could become a product of choice for drinking water filtration, wastewater treatment, and industrial pure-water treatment.
"Fibracast Ltd. selected Ontario for our global headquarters because it is the best place in the world to develop new technology. Ontario has an abundance of world-class engineering and manufacturing talent, which is supported by strong government programs to help new companies become established, innovate and launch breakthrough technologies. No successful technology development can be a one man show anymore. Ontario offers a pool of local dynamic companies capable of working side by side with us and delivering state-of-the-art custom-made equipment," said John Tomescu, Fibracast Chief Executive Officer, Ltd.
Supporting made-in-Ontario technologies and helping build local businesses is part of Ontario Provincial Premier Dalton McGuinty's plan to create a vibrant economy. A strong economy creates jobs for Ontarians and protects the services that matter most to Ontario families health care and education, an Ontario Economic Development spokesman said. "Ontario is proud to support innovative companies like Fibracast that are turning innovative ideas into great jobs. We are proud to support the development of new technology that will ensure clean water, and create new, high-quality jobs in Ontario, " said Brad Duguid, Minister of Economic Development and Innovation
Fibracast will begin commercial sales of its purification system in 2013.
The province's Innovation Demonstration Fund is a discretionary funding program administered by the Ministry of Economic Development and Innovation. The program focuses on emerging technologies, with a preference towards environmental, alternative energy, bio-products, hydrogen and other globally significant technologies. A firm receiving the loan has to prove it will work. Companies are required to demonstrate that their concept has been proven, fully validated, and upon successful completion will lead to full-scale commercial activities in Ontario.. The purpose of the IDF is to support Pilot Demonstrations that will lead to the commercialization of processes or products in Ontario that are globally competitive, a fund spokesman explained.
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Industry in the Era of the Electron
Q1 2024