Tekna’s $20 million government funding plan extended

Companies & MarketsNews
December 8, 2023

December 8, 2023

Tekna Holding ASA, Sherbrooke, Quebec, Canada, has announced the extension of a CA $20 million contribution agreement with the Canadian federal government’s Strategic Innovation Fund (SIF) programme. Under the terms of the reported amendment, the maximum amount to be disbursed remains unchanged at CA $20 million, however the programme has now been extended to March, 2027. To date, CA $6.6 million has been disbursed.

“This amendment is a significant milestone, confirming Tekna’s position as an industry leader,” stated Luc Dionne, CEO of Tekna. “The extended support and enhanced financial framework under the SIF program are instrumental in driving forward our strategic initiatives. We are committed to leveraging this opportunity to further our technological advancements and market leadership.”

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The SIF programme aims to stimulate high-quality business investments across various sectors. It supports R&D initiatives that enhance technology transfer, commercialisation of innovative products, services, and processes, and encourages the growth of innovative firms.

“The SIF’s contribution has been pivotal in our growth journey,” added Espen Schie, CFO of Tekna. “The amended terms not only provide us with financial flexibility but also affirm the value of our ongoing projects. We are grateful for the support of Innovation, Science, and Economic Development Canada (ISED) throughout the amendment process. This collaboration is a testament to our commitment to innovation and sustainable development in the advanced materials sector.”

www.tekna.com

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Companies & MarketsNews
December 8, 2023

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