Sona Nanotech is to receive $500,000 in funding from the Atlantic Canada Opportunities Agency (ACOA) to help it commercialize its products and services, it was announced today.
The repayable investment was announced by Darren Fisher, Member of Parliament for Dartmouth – Cole Harbour, on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA.
The contribution is being made through ACOA’s Business Development Program, which supports small and medium-sized companies’ innovations to improve competitiveness in export markets.
The assistance will allow Sona Nanotech to introduce novel nanorod products and customization services into the diagnostic and life sciences markets.
Darren Rowles, Sona’s CEO, and the president said:
We are incredibly grateful to ACOA for this very generous funding package, which will help us commercialize our products and services as we strive to grow a strong, sustainable business in the competitive life sciences market.
“Sona may have global ambitions but it will always be Canadian at heart, and we are proud to be part of the thriving Nova Scotia business community. ACOA’s support is vital in helping to build a strong, innovative and productive economy in Atlantic Canada, and I would urge other businesses to get in touch to see what they can offer.”
The announcement comes at an exciting time for Sona, just weeks after shareholders of Stockport Exploration voted to merge with the company, paving the way for listing on the Canadian stock exchange.