Today, Mike Kelloway, Member of Parliament for Cape Breton-Canso, and Jaime Battiste, Member of Parliament for Sydney-Victoria, announced a total of $2,214,302 to support the growth of the emerging biotechnology sector in Cape Breton. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.
- Reazant Inc. is receiving a $403,050 repayable contribution to further develop and commercialize its patented organic fertilizers and pesticides to improve crop health and yields. This project will create up to five jobs.
- Alter Biota Inc. is receiving a $400,531 repayable contribution to commercialize its low-cost, high-performance, concrete strengthener. This project will create up to six jobs.
- Phycus Biotechnologies Inc. is receiving a $400,000 repayable contribution to produce a plant-based commercial-scale ingredient for skin care products, providing an alternative to crude oil-based ingredients. This project will create up to six jobs
- Kraken Sense is receiving a $315,000 repayable contribution to commercialize its innovative device that can detect bacteria in food and beverage products in real-time. This project will create up to eight jobs.
- The Verschuren Centre is receiving a $695,721 non-repayable contribution to obtain specialized research and development equipment that will enable its business tenants to pilot and grow their clean technology innovations and proofs of concept. This project will create up to eight jobs.