Export Development Canada (EDC) has announced a $10 million investment in APG-Neuros as part of its commitment to help Canadian cleantech companies scaleup and export.
“EDC has been working with APG-Neuros for 10 years, supporting its 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 its innovative high-efficiency turbo blower technology. We look forward to seeing what the company will accomplish.”
According to EDC, 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.
EDC’s $10 million investment will allow APG-Neuros to finish the research and development phase on two new turbo blower products that will further reduce its customers’ energy consumption.
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.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence.