Petroleum Research Newfoundland and Labrador is funding the project under its Arctic and Harsh Environments strategic focus.
IBM says the initiative will create 145 new highly-skilled jobs.
The online media company promises to return a “significant portion” of the proceeds to its shareholders once the deal closes.
Check out photos from the show floor on day 3 of CMTS 2011
Check out these great pictures of CMTS 2011 day 2 provided by SME Canada
Day 1 featured Kevin O’Leary as the show’s keynote speaker and a number of amazing product demos, captured here in photos
After chip maker Microsemi Corp. announced a US$548.7 million hostile take-over bid for Zarlink Semiconductor, the Ottawa-based company’s shares soared 50 per cent.
Computer attacks against industry on the rise
Using online tools to improve the bottom line
Timing, collaboration will be keys to commercialization