The governments of Canada and Quebec and Investissement Québec are granting a total of $882,500 in financial assistance to beSpline to acquire and adapt production equipment. Located in Sherbrooke in the Estrie region, this new branch of the IND Group offers composite panel moulding and curving services. This project, valued at nearly $1.8 million, will enable it to become the first business to use an adaptive moulding process in North America.
The Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health, Élisabeth Brière, on behalf of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions (CED), the Honourable Pascale St‑Onge, and the Member for Saint‑François and Deputy Government Whip of Quebec, Geneviève Hébert, on behalf of the Minister for the Economy, Lucie Lecours, made the announcement today.
To implement this project, the Government of Canada is making a repayable contribution of $390,000 under CED's Regional Economic Growth through Innovation (REGI) program.
For its part, the Government of Quebec is granting a loan of $492,500 from Investissement Québec's capital funds.
Through adaptive moulding technology, which does not require any moulds, the business quickly manufactures one-of-a-kind composite parts at a competitive cost. In addition, this technology does not generate any waste since it eliminates the need to manufacture the wood tooling traditional moulding requires, translating into positive ecological benefits. The equipment makes it possible to work with different materials, such as wood laminate, thermoformable foam, and acrylic, and to use biosourced resins, natural fibres, and recycled materials. Large-format panels designed in the beSpline workshop are for the nautical industry, architecture, and the manufacture of projection screens.
Quotes
"The Government of Canada is continuing to accompany our regions' businesses into the economy of tomorrow. By leveraging a project such as this one by beSpline, we are enabling an innovative business to start up in the composite materials sector. In addition to creating seven jobs in Sherbrooke, the SME will enable our region to gain visibility internationally as the only business in North America to use adaptive moulding technology."
Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Mental Health and Addictions and Associate Minister of Health
"By proposing an innovative technology that is unique in North America, beSpline has been able to seize a wonderful opportunity to develop markets. Thanks to the expertise of its leaders, the business will make a name for itself in the nautical, cinema projection screen, flight simulator, and architectural and structural panel industries. beSpline will thus contribute to a vital economy regionally and right across Quebec."
Geneviève Hébert, Member for Saint François and Deputy Government Whip of Quebec
"beSpline will be a source of innovation and automation within Quebec's composite materials industry, in addition to contributing to clean growth. The support announced today for this business is an example of a strategic investment in an innovative project that will make it possible to reduce Canada's environmental impact and foster a green, resilient economy."
The Honourable Pascale St‑Onge, Member of Parliament for Brome-Missisquoi, Minister of Sport and Minister responsible for CED
"It is by innovating that our SMEs stand out, and today beSpline is continuing to draw on the full potential innovation offers. With its new adaptive moulding technology, the business is giving itself the means to ensure strong production while reducing its losses. A project combining productivity with sustainable economic development is exactly what we want to support right across Quebec!"
Lucie Lecours, Minister for the Economy
"Our regional teams are proud to support businesses that, like the IND Group with the creation of beSpline, are leveraging innovation to enhance their productivity and pursue growth. By placing our expertise in financing, export support and technological mentoring at their service, we are following through on our role, stimulating sustainable economic development in each of our regions."
Guy LeBlanc, President and CEO, Investissement Québec
"It took two years to see the beSpline project take shape within the IND Group. Without the support of the federal and provincial governments as well as regional organizations, this large-scale project would still be a dream. By working with us to launch beSpline, they recognize the innovative nature of the business and confirm the relevance of the 3E-Economic, Efficient and Ecological-approach at the core of its mission. beSpline is already attracting attention beyond Canada's borders. Projects are under development in the U.S., Europe and even Australia."
Yoann Bonnefon, President and CEO, beSpline
Quick facts
- beSpline, a branch of the IND Group, offers large-scale composite panel moulding and curving services. Its innovative technological equipment and adaptive moulding process enable it to provide a very quick turnaround on its clients' projects.
- Investissement Québec has a mission to actively participate in Quebec's economic development by stimulating business innovation, entrepreneurship, and investment and export growth across all regions.
- CED's contribution is part of a series of funding announcements that will take place in the coming weeks totalling nearly $40 million to implement over 20 projects by innovative businesses and organizations that will contribute to the economy of tomorrow.
- CED is the key federal player in Quebec to promote economic development in the regions and among SMEs.
- The REGI program targets entrepreneurs leveraging innovation to grow their businesses and enhance their competitiveness, as well as regional economic stakeholders helping to create an entrepreneurial environment conducive to innovation and growth for all, across all regions.
