Canada this week announced nearly $7 million in investments for four companies based in the Edmonton region.
Edmonton, which the federal government describes as a “thriving source of economic diversification in Alberta and home to some of Canada’s most innovative, high-growth companies responsible for strengthening our national economy,” will see $6.7M split across four small-to-medium firms found to be innovating locally through technology.
The capital hails from PrairiesCan’s Business Scale-up and Productivity program, which targets growing companies seeking an extra boost of financing to expand their workforce, market reach, and scale.
“Today’s investments will help power some of Edmonton’s most innovative, high-growth companies to realize their full potential, scale up, expand into new markets, and create more high-quality jobs for Canadians,” stated Terry Duguid, Minister for PrairiesCan.
Levven Electronics is receiving $1,257,000 to enhance manufacturing capacity and expand its product lineup of patented in-home building technology which aims to make homes more affordable by reducing costs and materials.
“By reducing material waste and labour costs, we’re making homes more affordable and energy-efficient—something that benefits builders, homeowners, and the environment,” commented James Keirstead, President of Levven.
“This investment from PrairiesCan … enables us to scale our manufacturing, expand our sales and marketing reach, and accelerate the adoption of our sustainable building technology,” he said.
CARE Group is receiving $1.5M to scale its digital mental health platform to rural communities across Canada.
“This investment from PrairiesCan enables CARE Group to expand our digital mental health programming to more underserved populations across Canada, bridging critical gaps in care with innovative, scalable solutions,” noted CARE Group cofounder and CEO Ray Yue.
Demir Engineering is receiving $2.5M to expand in-house production of bi-metallic and metal matrix industrial products, as well as expand into new markets. And Grengine, formerly known as Growing Greener Innovations, is getting $1.5M to scale production of its battery energy storage technology while accelerating deployment of its plug-and-play battery packs for critical infrastructure and remote operations.
“As the only battery pack manufacturer in the world with PCB-level integrated cybersecurity, we are setting a new global benchmark for safe, scalable, and sustainable power,” believes chief executive officer Connie Stacey.
All firms intend to bolster their workforce following the funding. In line with the priorities of the Government of Canada’s Framework to Build a Green Prairie Economy, these investments are therefore expected to create approximately 100 Canadian jobs by enhancing the ability of regional companies to access local talent.
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