Corruven Inc. has obtained a conditionally-repayable loan of $2 million through ACOA’s Atlantic Innovation Fund (AIF) as well as $2.475 million through the Investments in Forest Industry Transformation (IFIT) Program delivered by Natural Resources Canada (NRCan) to advance its technology patented lightweight materials.
Adding the monetary injections of its private investors to a value of $2 million, the project represents a total investment of $6.5 million for the Edmundston, NB region and will create more jobs.
This important contribution will help the company to design and manufacture a new production line of composite high-performance wood and intensify R&D for the production of intelligent solutions for the packaging, construction and architecture markets.
