U.S. Markets closed

Minister MacKay Announces Support to the Royal Canadian Navy

HALIFAX, NOVA SCOTIA--(Marketwire - Mar 3, 2013) - The Honourable Peter MacKay announced two significant announcements for the Atlantic area today valued at over $695 000. Minister MacKay announced a one-time government contribution of $240 000 to the Canadian Naval Memorial Trust in support of the naval memorial HMCS Sackville, and the Canadian Naval Memorial Project. Further, on behalf of the Honourable Rona Ambrose, Minister of Public Works and Government Services and Minister for Status of Women, announced a contract award of $455 400 to Akoostix Inc. for a Sonar Processor.

Minister MacKay took the opportunity to announce the contribution of $240 000 in support of the naval memorial HMCS Sackville, and the Canadian Naval Memorial Project.

"HMCS Sackville is a witness to our past and reminds us of our Navy''s accomplishments during the Battle of the Atlantic," said Minister MacKay. "Canadians can be proud of our Navy''s rich heritage and our contribution to preserve the vessel for the benefit of future generations."

"The young men who sailed in the North Atlantic on corvettes like Sackville proved critical to victory in the Battle of the Atlantic, which was the key campaign of the Second World War," said Vice-Admiral Paul Maddison, Commander Royal Canadian Navy. "I am extremely pleased that the Government of Canada is contributing to the Canadian Naval Memorial Project."

The CNMT was formed with a mandate to preserve the Second World War era Flower-class corvette as a Naval Memorial and museum, providing professional interpretation of the ship within the larger scope of the Royal Canadian Navy''s own history.

Akoostix Inc.''s innovation, the TruView RPA (Rapid Processing and Analysis) Sonar Processor, is a compact portable system capable of processing and analyzing different types of sonar data using single-software architecture at eight times real time or faster. TruView is designed to provide a common framework that allows connections to virtually all types of acoustic sensors, which provides significant value and cost savings compared to other systems.

"Our Government''s top priority is the economy and we understand that helping Canadian businesses expand and succeed directly benefits Canadian workers and families by creating jobs and prosperity," said Minister MacKay. "We are proud to encourage Canada''s entrepreneurial spirit by kick-starting Canadian businesses to get their innovative products and services from the lab to the marketplace."

With its portability and small size, TruView allows for easy deployment on board aircraft and ships, providing front-line support to defence surveillance operations. It can quickly validate sonar contact and extract intelligence to provide operational feedback to front-line sonar operators.

Note to the editor / news director

More information about the HMCS Sackville and the Canadian Naval Memorial Trust can be found at: http://www.forces.gc.ca/site/news-nouvelles/news-nouvelles-eng.asp?id=4672 and at www.canadasnavalmemorial.ca

For more information on the Royal Canadian Navy, please visit our website at: www.navy.forces.gc.ca

For the complete list of pre-qualified innovations, please refer to the CICP web page.