Business

Two Richmond businesses get federal funding

By Richmond Sentinel

Published 4:11 PDT, Mon May 30, 2022

Last Updated: 3:09 PDT, Mon June 20, 2022

Two Richmond businesses are receiving $7 million in federal funding.

Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced the funding this morning at FPS Food Process Solutions (FPS), a Richmond business that provides customized freezing and cooling equipment for the food processing industry.

“The innovation from British Columbian businesses benefits not only our country, but the world,” said Sajjan. “With this funding, we are helping these groundbreaking companies to further develop their products, while at the same time supporting economic growth and good jobs for Canadians.”

FPS will receive $2 million in Business Scale-up and Productivity funding, which will allow it to commercialize its Spiral Immersion System technology. This technology allows for faster freezing and reduced energy consumption. It is anticipated that this investment will result in increased sales and revenue, and the creation of 40 new jobs.

“We are emboldened by this recognition to not only continue in manufacturing excellence in the food industry in British Columbia, but to ensure this technological advancement places FPS on the map as a local innovator with global reach,” said FPS president Jeffrey Chang.

In addition, $5 million in Business Scale-up and Productivity funding will go to RecycleSmart, a company that develops and deploys advanced cloud-based waste and recycling container sensor systems to improve the process flow and efficiency of the waste industry. With the funding, RecycleSmart will commercialize and scale-up production of its Pello waste-management system that uses wireless sensors and cloud computing to track waste bin data. The company anticipates the creation of 50 new jobs as a result of this project.

“With the support of PacifiCan we will expand the RecycleSmart engineering and manufacturing teams to bring our made in Canada, smart waste platform to the North American market,” said RecycleSmart chief innovation officer Colin Bell.

PacifiCan is the regional development agency dedicated to British Columbia. It promotes growth and diversification in British Columbia’s economy by enhancing innovation, improving business competitiveness, and promoting inclusive growth. The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally. 

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