Sep 09, 2009

PCI Geomatics Receives 7.6M in Investment Funding From Industry Canada

Estimated Article Reading Time: 1 min.

Toronto, Ontario – September 9, 2009: Bob Dechert, Member of Parliament for Mississauga–Erindale, on behalf of the Honourable Tony Clement, Minister of Industry, today confirmed $200 million in funding for the Strategic Aerospace and Defence Initiative (SADI) and announced a $7.6-million repayable investment in support of a research and development (R&D) project being undertaken by PCI Geomatics to develop next-generation earth observation technologies.

“I’m very pleased to confirm our government’s commitment to support SADI’s budget with $200 million,” said Mr. Dechert. “These funds will help Canadian companies build on their existing capabilities, diversify into new areas of expertise and develop new products and services. The SADI repayable investment in PCI Geomatics builds on Canadian expertise in space technologies while helping an innovative company to play a vital role in the growing earth observation market.”

The R&D project at PCI Geomatics will involve developing a high-speed computing framework and software suite that will make it possible to process large amounts of raw satellite image data faster and more cost-effectively, with an emphasis on increasing the automation of image processing. The resulting data are essential for decision making in many fields, including environmental monitoring, agriculture, security and intelligence, aerospace and defence, and wide-area surveillance.

SADI supports strategic industrial research and pre-competitive development projects in the aerospace, defence, space and security industries. SADI is managed by the Industrial Technologies Office, a special operating agency of Industry Canada with a mandate to advance leading-edge research and development by Canadian industries.

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For further information (media only), please contact: Lynn Meahan Press Secretary Office of the Honourable Tony Clement Minister of Industry 613-995-9001 Media Relations Industry Canada 613-943-2502 PCI Contact Alysia Vetter Marketing Manager Tel: 819-770-0022, Ext. 233 Fax: 819-770-0098 Email: vetter@pcigeomatics.com Web: www.pcigeomatics.com