Canada’s new government awards $356,676 in funding to Optisplit Inc.

Major innovation in the cutting sector

Saint-Ambroise, Quebec, August 24, 2007 – The Honourable Jean-Pierre Blackburn, Minister of Labour and Minister of Canada Economic Development, today announced the awarding by Canada's new government of $356,676 in funding to Optisplit Inc. of Saint-Ambroise to validate the commercial applications of the Maxsplit saw, an innovative new cutting tool, in an industrial and manufacturing setting.

Optisplit Inc. has developed a new model of saw that generates no residue and can be used in place of traditional saws in the cutting of such materials as oriented strand board (OSB) wood panels and ultra high molecular weight (UHMW) plastic panels. This table saw prototype will enable the enterprises using it to significantly save energy while improving their level of productivity. The Maxsplit saw will also allow these firms to improve the working conditions for their employees by reducing dust and noise levels.

“This promising project is completely in line with the determination of Canada's new government to help small and medium-sized businesses become more competitive by increasing their capacity to innovate, adopt leading-edge technologies and develop new markets. Today's announcement highlights a product that is unique in the world and offers enormous export potential,” stated Minister Blackburn. “This Optisplit project will help develop and revitalize one of Saguenay–Lac-Saint-Jean's key industrial sectors. At a time of reduced timber supplies, this new technology will enable the forest industry to achieve considerable gains in productivity,” the Minister added.

Canada Economic Development has awarded $195,984 in funding, half of it in the form of a non-repayable contribution, and the National Research of Canada $160,692 in non-repayable funding, to Optisplit Inc. Completion of this innovative project will result in the creation and consolidation of two full-time jobs.

“Today's announcement fits in very well with our government's new Science and Technology Strategy, Mobilizing Science and Technology to Canada's Advantage,“ explained the Honourable Jim Prentice, Minister of Industry and Minister responsible for the National Research Council of Canada. “This project is a concrete example of the new Government of Canada's commitment to recognizing the importance of doing more to help Canadian businesses innovate and become even more competitive.“

“After seven years of research and development, investments of more than $650,000 and the support of Canada Economic Development, Optisplit Inc. will finally be in a position to move beyond the pre-startup phase and start engaging, over the medium range, in commercial activity. We are proud to announce that the Maxsplit saw, already widely tried and tested, will soon be ready to be put into use in a number of local and foreign enterprises,” explained Optisplit President Jérôme Lavoie.

The contribution from Canada Economic Development has been awarded through the Community Economic Diversification Initiative–Vitality (CEDI-Vitality), an initiative under which the Agency will invest $85 million over the next four years to foster the emergence of a socio-economic environment conducive to the development of entrepreneurship, economic diversification, the startup of new enterprises and the execution of flagship projects generating sustainable jobs.

The funding from the National Research Council of Canada has been granted through the Industrial Research Assistance Program (NRC-IRAP), which works with more than 10,000 Canadian businesses each year to help them develop new products, services and processes. In addition to the technical support and information its industrial technology advisors offer small and medium-sized businesses, NRC-IRAP provides more than $73 million in non-repayable funding every year to innovative SMEs undertaking R&D projects.

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Sources:

Nadia Marceau
Communications
Canada Economic Development
Tel.: 418-668-4602 or 1-800-463-9808
E-mail:

Yan Plante
Special Assistant
Office of the Honourable Jean-Pierre Blackburn
Canada Economic Development
Tel.: 819-953-5646
Cell.: 613-808-8309
E-mail:

Deirdra McCracken
Press Secretary
Office of the Honourable Jim Prentice
Tel.: 613-995-9001
E-mail: