RDC funding to support Newfoundland, Labrador business-led projects
Projects in ocean technology, natural resources, and advanced manufacturing gets $1.8 million in funding.
ST.JOHN’S, NL –The Research & Development Corp. of Newfoundland and Labrador (RDC) is awarding 12 business-led projects more than $1.8 million in funding.
The investments will support small- and medium-sized businesses in areas ranging from ocean technology and natural resources to life sciences and advanced manufacturing. RDC’s investment is more than $1.8 million in the 12 R&D projects and the total project costs are more than $4.9 million, co-funded by the participating companies and other partner organizations.
The RDC is a provincial crown corporation responsible for improving Newfoundland and Labrador’s research and development performance. RDC works with research and development stakeholders including business, academia and government agencies and departments to make strategic research and development related investments in people, research opportunities and infrastructure.
Some of the projects include:
ExtremeOcean Innovation Inc.
ExtremeOcean Innovation Inc. is a marine technology start-up company formed in 2010 and located in St. John’s, Newfoundland and Labrador. The aim of this project is to advance the development of a unique vessel for accessing offshore wind turbines known as the TranSPAR Craft (TranSPAR). The TranSPAR is a propelled spar marine vehicle. It was created due to a need defined by a consortium of energy companies through the UK-based Carbon Trust’s Offshore Wind Accelerator Access global design competition. RDC’s investment is $250,000 of a total project cost of $607,300.
Based in St. John’s, Newfoundland and Labrador, eSonar Inc. was incorporated in 2008 to service, develop, manufacture and market electronic and acoustic products for the marine and ocean technology markets. eSonar Inc. is using RDC funding to develop an integrated purse seining system that will transmit data to aid in the launching and retrieving of a purse seine to improve the purse seine fishing market by providing vessel captains with a monitoring system for launching and retrieving the seines. RDC’s investment is $250,000 of a total project cost of $445,713.
Kraken Sonar Systems Inc.
Kraken Sonar Systems Inc. is based in St. John’s, Newfoundland and Labrador as a developer, manufacturer and marketer of sonar devices for the deep sea commercial fisheries, defence and ocean sciences sectors. Through this project, the company has developed a program to create a bathymetric synthetic aperture scanning sonar product. This product would be deployed on unmanned underwater vehicles, as well as untethered and tethered towed bodies/equipment and could capture a higher resolution than the most advanced side scan sonars. DC and NSERC funding will enable the company to hire Dr. Jeremy Dillon as an industrial R&D fellow for two years. Dr. Dillon is a PhD graduate from Memorial University’s Department of Physics and Physical Oceanography, Faculty of Science. RDC’s investment is $60,000 of a total project cost of $155,000.