Federal government invests $3M to help early-stage companies adopt low-carbon processes and products
by CM Staff
The CBARN will provide research, technical and commercialization support to 65 southern Ontario-based early-stage SMEs in the bio-cleantech sector.
Federal government invests $3M to help early-stage companies adopt low-carbon processes and products
SARNIA — On Jul. 27, Peter Fragiskatos, Parliamentary Secretary to the Minister of National Revenue and MP for London North Centre, announced an investment of $3 million for Lambton College of Applied Arts and Technology, in partnership with Fanshawe College (London), Mohawk College (Hamilton) and Loyalist College (Belleville), to establish the Canadian Bio-Cleantech Applied Research Network (CBARN).
The CBARN will provide research, technical and commercialization support to 65 southern Ontario-based early-stage SMEs in the bio-cleantech sector, leading to the development of 80 technologies, processes or products and supporting more than 110 jobs.
It will target that at least 25 percent of SMEs supported by CBARN are owned or led by underrepresented groups, such as Indigenous peoples, persons with disabilities, Black communities, members of racialized communities, women, youth, members of the LGBTQ2+ community, and newcomers to Canada. Additionally, students at CBARN institutions in the science and technology fields will have opportunities to develop and apply their skills in support of the participating SMEs, which will enhance their employability and contribute to a skilled labour force.
The CBARN network will reportedly provide companies with access to all partnering colleges’ applied research and technical expertise to develop and improve products and technologies that are commercially viable, grow their business and diversify the skillsets of their workforce. Timely access to specialized experts and equipment at Ontario’s post-secondary institutions can be a key support for helping these companies fully commercialize their products and bring them to market sooner.
Through this project, early-stage SMEs will undertake collaborative projects that focus on new low-carbon processes and products, greenhouse gas reduction and other environmental benefits. Ultimately, the project seeks to help companies participating in CBARN to gain a competitive advantage via the development of new and more efficient products, processes and services in comparison to their national and international competitors. These industry-driven projects are ideally commercially viable and will lead to increased economic activity including circular economy outcomes.
