As part of its commitment to help Canadian cleantech companies scale-up and export, Export Development Canada (EDC) has announced its support for APG-Neuros, with a $10-million investment.
“EDC has been working with APG-Neuros for 10 years, supporting their rapid growth and ability to perform in the international space,” said Eugene Siklos, Vice-President of Investments at EDC.
“To keep pace with the expanding cleantech market, the company wants to update their innovative high-efficiency turbo blower technology. We look forward to seeing what the company will accomplish.”
The Quebec-based company has developed a ground-breaking approach to the water and wastewater treatment market, modernizing and bringing a much-needed change to the existing, aging industry.
Currently, 75 per cent of a typical wastewater treatment budget goes toward energy use. APG-Neuros’ technology reduces that energy consumption by up to 40 per cent, making the process more energy efficient. The company’s turbo blower technology is currently used in various municipal and industrial wastewater treatment facilities in Canada and around the world.
This $10 million investment will allow the company to finish the research and development phase on two new turbo blower products that will further reduce their customers’ energy consumption.
“We are very excited to benefit from EDC’s investment in our growth. We are confident that our new products will generate record-high energy savings for our customers on a global scale,” said Omar Hammoud, President and CEO of APG-Neuros.
Supporting this innovative and fast-growing sector of the Canadian economy has been a priority for EDC since 2012. Since then, EDC has facilitated more than $6 billion in cleantech business in 114 countries.