U.S. markets closed
  • S&P 500

    3,845.08
    +13.69 (+0.36%)
     
  • Dow 30

    31,037.68
    +69.86 (+0.23%)
     
  • Nasdaq

    11,361.85
    +39.61 (+0.35%)
     
  • Russell 2000

    1,727.55
    -13.78 (-0.79%)
     
  • Crude Oil

    98.29
    -0.24 (-0.24%)
     
  • Gold

    1,737.90
    +1.40 (+0.08%)
     
  • Silver

    19.09
    +0.01 (+0.05%)
     
  • EUR/USD

    1.0188
    +0.0004 (+0.04%)
     
  • 10-Yr Bond

    2.9130
    +0.1040 (+3.70%)
     
  • GBP/USD

    1.1922
    +0.0000 (+0.00%)
     
  • USD/JPY

    135.9700
    +0.0550 (+0.04%)
     
  • BTC-USD

    20,553.36
    +363.52 (+1.80%)
     
  • CMC Crypto 200

    440.40
    +4.88 (+1.12%)
     
  • FTSE 100

    7,107.77
    +82.30 (+1.17%)
     
  • Nikkei 225

    26,107.65
    -315.82 (-1.20%)
     

Innovative Vancouver-based company receives Government of Canada funding to expand market reach

·2 min read

The Honourable Harjit S. Sajjan announces funding for Nanozen Industries Inc. that will help bring automated workplace safety technology to the pharmaceutical sector

VANCOUVER, BC, June 1, 2022 /CNW/ - British Columbia's technology sector is creating jobs, spurring economic growth, and providing solutions to important challenges, like increasing occupational health and safety in workplaces.

Innovative Vancouver-based company receives Government of Canada funding to expand market reach (CNW Group/Pacific Economic Development Canada)
Innovative Vancouver-based company receives Government of Canada funding to expand market reach (CNW Group/Pacific Economic Development Canada)

Companies depend on technology to ensure their workplaces are safe for employees and clients. Many organizations still rely on cumbersome and time-consuming particle monitoring processes that manually collect air quality samples that are sent offsite for analysis. This makes it difficult to react in real-time to contaminates that could be affecting employee health and safety.

Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $302,500 in funding through the Business Scale-up and Productivity (BSP) program to help Nanozen Industries Inc. (Nanozen).

Vancouver-based Nanozen is a pioneer in developing innovative approaches to reducing aerosol exposure in industrial workplace environments. In 2016, the company received federal support to commercialize its DustCount system, a wearable, real-time particle monitor that continuously checks and provides reports on air quality to protect employees from exposure to hazardous substances.

With BSP funding, Nanozen will take the next step by expanding its market reach of the DustCount system to the pharmaceutical sector. Nanozen will calibrate their existing technology for new uses, test new product features with the world's leading pharmaceutical companies, and conduct customer demonstrations. It is anticipated that this investment will help the company boost its revenue growth significantly and increase employment by 33 per cent.

Quote(s)

"PacifiCan is looking for innovative partners like Nanozen. This investment will help Nanozen bring its important safety technology to new sectors – showing the world the strength of British Columbia's health sciences sector."
-       The Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada

"Nanozen's automated air quality sensor technology is chosen by major pharmaceutical companies to help provide real-time data that measures environmental risks, resulting in improved employee health and production efficiency. This funding from PacifiCan helps open up a whole new international market for Nanozen post-COVID that promises to vault the company into worldwide prominence."
-       Peter Briscoe, CEO, Nanozen Industries Inc.

Quick facts

  • PacifiCan is the regional development agency dedicated to British Columbia. PacifiCan promotes growth and diversification in British Columbia's economy by enhancing innovation, improving business competitiveness, and promoting inclusive growth.

  • The Business Scale-up and Productivity (BSP) program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.

Associated links

Stay connected
Follow PacifiCan on Twitter and LinkedIn
Toll-Free Number: 1-888-338-9378
TTY (telecommunications device for the hearing impaired): 
1-877-303-3388

SOURCE Pacific Economic Development Canada

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/01/c0407.html