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Cleantech firm Vive Nano wins Ontario funding
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Author:  JPMTURF [ November 23rd, 2009, 7:04 pm ]
Post subject:  Cleantech firm Vive Nano wins Ontario funding

Cleantech firm Vive Nano wins Ontario funding
Posted: November 23, 2009, 8:46 PM by Alia McMullen
Green business, Ontario

Vive Nano, one of Corporate Knight’s Next 10 companies mentioned in Monday’s Financial Post article on emerging clean technology businesses, has been awarded almost $3.8-million in investment from the Ontario government.

The Ontario Ministry of Research and Innovation announced Monday it would provide funding for the Toronto-based nanotechnology company using its Innovation Demonstration Fund to help the company build a pilot plant, refine its processes and come to full production levels. Vive Nano expects to create 19 new high-skill jobs over the next two years, including positions for chemists, technicians, engineers, project managers and a controller.

“Some of today’s most exciting scientific breakthroughs and commercial innovations are happening in the field of nanotechnology,” said John Milloy, Ontario’s minister of Research and Innovation. “That’s why we’re proud to help emerging companies like Vive Nano bring their technology to market, so that they can create jobs and seize what is already a multi-billion dollar global market opportunity.”

Vive Nano’s first product reformulates pesticides so that farmers can better protect their crops while using less chemicals, resulting in reduced emissions and less chemical run-off.

Keith Thomas, president and chief executive of Vive Nano said the company had a “game-changing” nanomaterials process that is environmentally friendly and solves major problems for global customers, including cost, quality, and complexity.

“I cannot think of a better fit, or a better place to grow this knowledge-based company than Ontario,” he said.

Alia McMullen

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