January 14, 2021 · Lower Sackville, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)
Advanced technology continues to provide sustainable solutions to address problems faced by businesses. Many software applications process thousands of data transactions every minute, which uses a tremendous amount of energy. To address this, Meridian DLT has developed a digital data sharing and storage service that is powered using 100% renewable energy, offering a secure way for businesses to share and store data while reducing environmental impacts.
Government of Canada investment will enable growth
Darrell Samson, Parliamentary Secretary to the Minister of Veterans Affairs, Associate Minister of National Defence and Member of Parliament for Sackville-Preston-Chezzetcook, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, today announced a repayable contribution of $363,750 to support Meridian DLT's work.
This funding will enable Meridian to scale-up and increase the variety of data sharing and storage services it can offer, as well as the speed and diversity of servers and machines. This project will allow the company to grow its team, market its technology and increase revenue.
Today's announcement shows the Government of Canada's commitment to help small- and medium-sized businesses grow, reach new markets, drive innovation and contribute to Atlantic Canada's economic recovery.
Quotes
"Helping start-up companies scale up is key to bringing new, innovative technologies to market. That is why I am pleased that our government is investing in Meridian DLT, a company with global potential, to help create a more sustainable future for all Canadians and keep the economy going."
- The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for ACOA
"As technology evolves, so must the business world to keep up with consumer demand and to capitalize on the convenience of new online services. This project will help a cutting-edge company in Lower Sackville grow, reduce our carbon footprint and create skilled jobs in the area."
- Darrell Samson, Parliamentary Secretary to the Minister of Veterans Affairs, Associate Minister of National Defence and Member of Parliament for Sackville-Preston-Chezzetcook
"We are extremely confident in our ability to launch new technology from here in Atlantic Canada that competes globally at the highest levels. This funding positions us strongly in expanding the impact of our green network, research and development and overall technology infrastructure."
- Matthew Pickup, Director of Technology, Meridian DLT
Quick facts
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Meridian DLT's technology, which uses blockchain to maintain the benefits of increased transparency and security, is used by organizations in renewable energy, healthcare, building efficiency and carbon offsetting.
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Meridian DLT uses energy efficient servers and equipment, distributed across multiple geographic locations, to take advantage of clean energy sources available, such as wind, hydro, solar or geothermal.
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The Government of Canada funded this project through the Atlantic Canada Opportunities Agency's Regional Economic Growth through Innovation (REGI) program.
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The Business Scale-up and Productivity stream of the REGI program supports businesses at various stages of development, including high-growth firms, to accelerate their growth, help them scale up and enhance their productivity and competitiveness in both domestic and global markets.
