Three companies get $5.6M from FedDev Ontario for projects
They'll assist with scale-up, growth and create 115 jobs.
TORONTO — Two Ontario manufacturers and a pallet recycler are sharing $5.6 million from FedDev Ontario to assist with projects that will improve processes and help them scale-up for growth.
Factory Bucket, a software-as-a-service (SaaS) provider based in London, Ont., is getting a $500,000 repayable contribution from the federal program. That adds to $1 million in private funding that will be used to scale up the development and sales of its software, configure solutions to specific supplier needs and market its products globally. The company’s digital platform helps manufacturers digitize workflows and maximize the efficiency of their operations. The no-code platform allows non-technical employees to easily solve everyday business challenges.
Titan Trailers, a manufacturer of custom aluminum trailers for bulk cargo and shipping industries, such as waste management, recycling, agriculture, forestry and construction, gets a repayable contribution of $4.1 million. The funding will support the construction of its newly-modernized Delhi facility, the reconfiguration of its newly-acquired Tillsonburg facility and the purchase of advanced production equipment. As a result, the company’s annual production capacity will increase from 600 to 1,500 trailers
Oxford Pallet operates a wood pallet recycling business in Norwich. Its $1-million repayable funding adds to $9 million in private investment that will help with the installation of advanced equipment, including a custom-designed automated pallet sort line in its new 48,000-square-foot facility. The technology will ncrease productivity and completely recycle scrap pallets with zero waste.
The three projects are to create more than 115 jobs.