Government of Canada invests in innovative BC businesses to support their growth and create jobs

Today, the Honorable Harjit S. Sajjan, Minister for International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacificCan), announced $7 million in financing to support two innovative companies in the clean and digital technology and advanced manufacturing sectors.

Minister Sajjan made the announcement to FPS Food Process Solutions (FPS), a richmondNew York-based company that provides custom freezing and chilling equipment for the food processing industry.

The Minister announced funding for Business Scale-up and Productivity (BSP) 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. This investment is expected to 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 sensor and recycling container systems that improve process flow and efficiency in the waste industry.

With this funding, RecycleSmart will commercialize and scale up production of its Pello waste management system that uses wireless sensors and cloud computing to track bin data. The company plans to create 50 new jobs through this project.

Promoting innovation is a priority for PacifiCan. These investments will generate jobs and growth in the clean and digital technology and advanced manufacturing sectors and create jobs for Canadians.

Quotation)

BC business innovation not only benefits our country, but the world. With this funding, we are helping these innovative companies further develop their products, while supporting economic growth and good jobs for Canadians. »
– The Honorable Harjit S. Sajjan, Minister for International Development and Minister responsible for the Pacific Economic Development Agency of Canada

“We are emboldened by this recognition to not only continue in manufacturing excellence in the food industry in British Columbiabut delivering this technological breakthrough puts FPS on the map as a local innovator with global reach.”
Jeffrey ChangPresident, FPS Food Process Solutions Corp.

“With the support of PacifiCan, we will expand RecycleSmart’s engineering and manufacturing teams to bring our Canadaintelligent waste management platform in the North American market.”
Colin BellChief Innovation Officer, RecycleSmart

“Innovation lives in communities across British Columbia and right here in richmond. PacifiCan plays a key role in supporting these businesses as they work to stimulate the economy and create jobs. »
Parmes-BainsMP, Steveston-Richmond East

“In PacifiCan, companies like FPS Food Process Solutions and RecycleSmart have a new champion. I look forward to seeing their continued growth and prosperity.”
Wilson MiaoMP, Richmond Center

Fast facts

  • PacifiCan is the regional development agency dedicated to British Columbia. PacifiCan promotes growth and diversification in from British Columbia the economy by strengthening innovation, improving business competitiveness and promoting inclusive growth.
  • The Business Scale-up and Productivity (BSP) program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.

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SOURCE Pacific Economic Development Canada

For further information: Haley Hodgson, Press Secretary, Office of the Minister of Economic Development, [email protected]; Ben Letts Communications Manager, Pacific Economic Development Canada, [email protected]; Toll Free: 1-888-338-9378, TTY (Telecommunications Device for the Hearing Impaired): 1-877-303-3388