Growth through technological innovation – Over $1.3M for three Mauritian companies

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TROIS-RIVIERES, QC, March 4, 2022 /CNW Telbec/ – Canada Economic Development for Quebec Regions (CED)

The governments of Canada and Quebec and Investissement Québec announce a total of $1,351,297 in loans to Abnatura de la Mauricie, Solutions Genyk and Groupe CR3X/RIDD (including 9300-7490 Québec inc., Groupe CR2 and CR3X). The financial assistance will support the realization of projects, valued at close to $2.2 millionto acquire technological equipment.

The Member for Saint‑Maurice–Champlain and Minister of Innovation, Science and Industry, the Honorable François‑Philippe Champagne, on behalf of the Minister of Sports and Minister responsible for Canada Economic Development for Quebec Regions (DEC), the Honorable Pascale St-Onge, as well as the Member for Trois‑Rivières, Minister of Labour, Employment and Social Solidarity, Minister of Immigration, Francisation and Integration and Minister responsible for the Mauricie region, Jean Boulet, the MNA for Laviolette–Saint‑Maurice and MNA Assistant to the Minister of Forests, Wildlife and Parks (forests), Marie‑Louise Tardif, and the MNA for Maskinongé and Parliamentary Assistant to the Minister Responsible for Government Administration and Chair of the Treasury Board, Simon Allaireon behalf of the Minister of the Economy, Lucie Lecours, made the announcement today.

The government of Canada grants a total of $641,061 in repayable contributions to these three companies under CED’s Regional Economic Growth through Innovation (CERI) program. For its part, the government of Quebecthrough its representative Investissement Québec, grants them a total of $630,236 in loans from the Centre-du-Québec and Mauricie Economic Diversification Fund. Investissement Québec also grants a loan of $80,000 of its own funds to Abnatura.

Quote:
“While the economic recovery must be green and resilient, our government is making concrete commitments to ensure this is reflected in our communities. Indeed, we have decided to prioritize strategic investments in promising projects to of Quebec green transition, which is why I am pleased to unveil this support for local businesses Abnatura, Solutions Genyk and Groupe CR3X/RIDD. By helping SMEs to become more innovative and competitive and by stimulating innovation to develop greener technologies and products, we are preparing the Mauricie region and the Canada of tomorrow.”

The Honorable François‑Philippe Champagne, Member of Parliament for Saint-Maurice–Champlain and Minister of Innovation, Science and Industry

“Proof of Quebec SMEs, including those in the Mauricie region, are among our government’s priorities. To this end, we deploy all the necessary tools and make every effort to support entrepreneurs in the implementation of their future projects. Today’s announcement demonstrates the soundness of our strategy. This is why we are happy to be involved in the success of these three Mauritian companies!”

John BouletMNA for Trois-Rivières, Minister of Labour, Employment and Social Solidarity, Minister of Immigration, Francisation and Integration and Minister responsible for the Mauricie region

“Abnatura, Genyk Solutions and CR3X/RIDD Group contribute greatly to the diversification and revitalization of the Mauritian economy. We must therefore support them in their growth projects and help them to further increase their competitiveness. We are proud to promote the development of local businesses through the Centre-du-Québec and Mauricie Economic Diversification Fund. Thank you to the employers and employees who actively participate in technological development!”

Marie-Louise Tardif, MNA for Laviolette–Saint Maurice and Parliamentary Assistant to the Minister of Forests, Wildlife and Parks (forests)

“These three companies are the pride of the Mauricie region, both for their recognized know-how and for the importance they place on technological innovation. Congratulations to the Abnatura, Genyk Solutions and CR3X/RIDD Group teams for their innovation initiatives, and best of luck to them in their growth efforts!”

Simon Allair, MNA for Maskinongé and Parliamentary Assistant to the Minister responsible for Government Administration and Chair of the Conseil du trésor

“The climate crisis remains one of the greatest challenges of our time. It is therefore essential for our government to encourage local businesses to develop processes and products that are more respectful of the environment. We must do this to stimulate the competitiveness of our industries and economic growth and to ensure a smaller ecological footprint in order to build healthier and more prosperous communities. »

The Honorable Pascale St-Onge, MNA for Brome–Missisquoi, Minister of Sports and Minister responsible for CED

“Thanks to technological innovation, our manufacturing companies are becoming more efficient and effective. Abnatura, Genyk Solutions and CR3X/RIDD Group have understood this well. With their new equipment, they will be able to increase their productivity and stand out from their competitors. We must multiply this type of initiative through Quebec!”

Lucie Lecours, Minister of the Economy

Fast facts:

  • Abnatura specializes in the discovery, production and marketing of biofertilization products composed of natural microorganisms. He receives a $153,200 repayable contribution from CED, a $95,750 loan from the government Quebec And one $80,000 loan from Investissement Québec to support its project valued at $383,000. The project aims to grow and increase the company’s production capacity by transferring its activities to new facilities and allowing it to acquire production and laboratory equipment.
  • Solutions Genyk specializes in the design, manufacture and marketing of rigid and flexible polyurethane foam systems. He receives a $179,000 repayable contribution from CED and a $225,625 loan from the government Quebec to support his project evaluated at $574,500. The project aims to promote business growth and productivity by acquiring specialized equipment, automating certain processes, acquiring certifications and improving the ventilation of production workshops.
  • The CR3X/RIDD Group specializes in the design, repair and manufacture of advanced metallic coatings to extend the life and surface functionalization of steel and aluminum parts. His project, valued at $1,241,914, aims to allow the company to develop by integrating additive manufacturing, which will allow the application of a new range of coatings while greatly reducing the ecological footprint. The company receives a repayable contribution of $308,861 from CED and a loan of the same amount from the government of Quebec to support the purchase of technological equipment and the refitting of its facilities.
  • CED’s contributions are part of a series of funding announcements that will take place over the next few weeks totaling close to $40 million implement more than 20 projects of innovative companies and organizations that will contribute to the economy of tomorrow.
  • CED is the key federal player in Quebec promote the economic development of regions and SMEs.
  • The REGI program is aimed at entrepreneurs taking advantage of innovation to develop their businesses and improve their competitiveness, as well as at regional economic actors contributing to creating an entrepreneurial environment conducive to innovation and growth for all, in all the regions.
  • The Centre‑du‑Québec and Mauricie Economic Diversification Fund is intended to stimulate the implementation of projects and foster the development of new industries of the future.

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SOURCE Canada Economic Development for Quebec Regions

For further information: Sources: Ariane Joazard-Bélizaire, Press Attaché, Office of the Minister of Sports and Minister responsible for Canada Economic Development for Quebec Regions, Email: [email protected]; Maude Méthot‑Faniel, Press Attaché, Office of the Minister of Labour, Employment and Social Solidarity, Minister of Immigration, Francisation and Integration and Minister Responsible for the Mauricie Region, Tel . : 438 526-8750; Guy Veillette, Constituency Office of the Member for Laviolette-Saint Maurice and Parliamentary Assistant to the Minister of Forests, Wildlife and Parks (forests), Tel. : 819 539-7292; Marie-Pierre Leblanc, Constituency Office of the MNA for Maskinongé and Parliamentary Assistant to the Minister responsible for Government Administration and Chair of the Conseil du trésor, Tel. : 819 228-9722; Romane St‑Laurent, Press Attaché, Office of the Minister Delegate for the Economy, Tel: 418 691-5650; For further information: Media Relations, Canada Economic Development for Quebec Regions, Email: [email protected]; Jean-Pierre D’Auteuil, Head of Media Relations, Communications Department, Ministry of Economy and Innovation, Tel: 418 691-5698, ext. 4868, Cell. : 418-559-0710; Isabelle Fontaine, Senior Director – Media and Government Affairs, Investissement Québec, Tel: 514-876-9359

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