A marine technology company in Halifax is receiving $40,000 to further develop its SEA-Stab mooring connector for challenging environments.
The company, Enginuity, is one of 27 businesses receiving funding and mentorship through Innovacorp’s ocean technology and clean technology acceleration programs this fall.
Enginuity’s founder and president, Ben Garvey, is a mechanical engineer who graduated from the Technical University of Nova Scotia, now Dalhousie University, and has decades of experience building products for rough sea environments. Mr. Garvey started the business 13 years ago in the basement of his home. Now Enginuity employs 15 people and provides engineering services to local and international clients.
The company’s latest innovation is SEA-Stab, a device that makes it easier to do subsea lifting or mooring. SEA-Stab’s cost-effective design can handle items from one to 3,500 tonnes. With only five moving parts, it is built to withstand harsh ocean conditions.
“Participating in Innovacorp’s ocean acceleration programs will push our company forward,” said Mr. Garvey. “The funding from Innovacorp will help us refine our ideas and build even stronger products. Innovacorp’s programs are also putting Nova Scotia on the map in this rapid growth sector.”
Innovacorp is running four ocean and two clean technology accelerator programs this fall, with support from the Government of Canada and the province. The Government of Canada contributed $500,000 towards these programs through the Atlantic Canada Opportunity Agency’s Business Development Program and the province contributed $420,000 through Innovacorp.
“There is tremendous growth and opportunity in our oceans and clean technology sectors,” said Hugh MacKay, MLA for Chester–St. Margaret’s on behalf of Minister of Business Geoff MacLellan. ”Innovacorp’s accelerator programs build on that momentum, giving companies like Enginuity the support they need to keep being innovative and create jobs.”
“With over 7,000 kilometres of coastline and industries as varied as fisheries, energy and tourism linked to the marine environment, Nova Scotia is committed to strengthening the ocean sector and mitigating the impacts of climate change,” said Darren Fisher, MP for Dartmouth-Cole Harbour on behalf of Atlantic Canada Opportunities Agency Minister Navdeep Bains. “Investments in early stage businesses in the ocean and clean technology sectors will help to grow and solidify Canada’s reputation as a leader on the global stage.”
For the list of companies participating in Innovacorp’s ocean and clean technology programs, visit https://innovacorp.ca/news/ocean-and-clean-technology-program-participants-2017.
Participants have been selected for five of Innovacorp’s ocean and clean technology accelerator programs, with participants for the sixth program to be selected later this month.