Ontario has invested through the Innovation Demonstration Fund to help the company build a pilot plant, refine its processes and come to full production levels. The province’s investment supports Ontario’s Innovation Agenda, the Ontario government’s plan to make innovation a driving force of Ontario’s economy.
The company expects to create 19 new jobs over the next two years, including chemists, technicians, engineers, project managers and a controller.
Each year, the total global investment in nanotechnology is estimated to be $13.9 billion. The US National Science Foundation has estimated that two million workers will be needed to support nanotechnology industries worldwide within 15 years.
John Milloy, minister of research and innovation,said: “When it comes to research and innovation, Ontario means business. Some of today’s most exciting scientific breakthroughs and commercial innovations are happening in the field of nanotechnology. That’s why we’re proud to help emerging companies like Vive Nano bring their technology to market, so that they can create jobs and seize what is already a multi-billion dollar global market opportunity.”
Keith Thomas, president and CEO of Vive Nano,said: “Ontario is serious about being in the innovation game. Vive Nano has a game-changing nanomaterials process that solves major problems for our global customers including cost, quality, and complexity. I cannot think of a better fit, or a better place to grow this knowledge-based company than Ontario.”
