Announcement of NRC-IRAP Financial Contribution to Sonoro Energy Limited and IntelligentNano Inc.

Speaking Points

The Honourable Tony Clement, PC, MP
Minister of Industry

Edmonton, Alberta
August 17, 2010

Check Against Delivery

Thank you for the warm introduction.

And my thanks to the National Institute for Nanotechnology (NINT) for hosting this event.

It is a pleasure to be here today in Edmonton and to bring good news about the Government of Canada's support for innovation in this thriving community.

As Minister of Industry, I have seen first-hand an innovative spirit and entrepreneurial drive in all regions of this province. The Edmonton nanotechnology cluster is a prime example.

This thriving technology cluster consists of more than two dozen commercial organizations with recognized expertise in creating technology using the world's tiniest particles. The National Research Council and the University of Alberta are committed to making Edmonton a magnet for talent by recruiting top-flight nano-scale researchers from across Canada and around the world.

Our government recognizes the tremendous potential of nanotechnology to diversify the economy, create new jobs and achieve excellence by global standards.

Here, in this building, we are surrounded by world-class excellence. This is the quietest building in the country, something that is very important for nanotechnology research. This is a facility that is of tremendous benefit to Canadian industry.

In fact, on the fourth floor of this building is the NINT Innovation Centre. This industrial partnership facility positions Alberta's nanotechnology industry for success by allowing companies to access NINT's world-class laboratories and tap into the expertise of the National Research Council and the University of Alberta.

We're here today to announce contributions to two companies, both of which are tenants in the NINT Innovation Centre. The first, Sonoro Energy Limited, is a publicly traded company pursuing oil and gas opportunities in the Middle East and internationally, with a focus on heavy oil, bitumen and asphalt. It has developed proprietary technology using a sonic reactor platform that helps with upgrading heavy oil into higher-value synthetic crude.

This technology has great potential for use in remote areas and is currently being tested at a pilot facility in Albania.

I am pleased to announce today a contribution of up to $285 268 to Sonoro Energy Limited to help it further develop this technology. Congratulations!

The second company I would like to talk about is IntelligentNano Incorporated. IntelligentNano has developed a device called the SonaCell. This is a really interesting device that helps to grow therapeutic stem cells. These cells have an ability to renew themselves, and they have tremendous potential to replace diseased and damaged tissues in the body. As most of us know, adults have a very small number of stem cells. The SonaCell has the ability to accelerate the growth of cells harvested from a patient and to grow them in a quantity sufficient for use in medical therapies.

The potential for treating spinal cord injuries and diseases like diabetes, arthritis and Parkinson's is tremendous. It gives me great pleasure to announce a contribution of up to $257 000 to support development of this technology.

Both of these companies are prime examples of how the Government of Canada is supporting innovation across the country.

And this is precisely why the Government of Canada has supported the development of technology clusters across the country through the National Research Council's regional innovation clusters program since 2001. In fact, in Budget 2010, the government announced an investment of an additional $135 million over two years in this program.

The technology cluster here in Edmonton has worked with a number of partners and collaborators, including the Alberta Centre for Advanced Micro and Nano Technology Products, nanoAlberta, the University of Alberta, the University of Calgary and the University of Lethbridge. Currently, there are collaborations with the Xerox Research Centre of Canada and Hitachi High-Technologies Canada, Inc.

It is estimated that the nanotechnology industry will have a potential worldwide market of $1.5 trillion (U.S.) annually by 2015. And Canadian participation in this market is spearheaded right here in Edmonton.

Our government knows that investing in science and technology is crucial to the development of a highly skilled workforce and to the long-term competitiveness of Canadian firms such as Sonoro Energy and IntelligentNano. We strongly support innovation through science and technology because it creates jobs, improves the quality of life for Canadians and strengthens our economy for future generations.

Again, congratulations to both companies and to all other NINT partner companies.

In closing, I would like to tell you in broad terms about our government's commitment to moving Canadian research and development toward commercialization. In 2007, the Prime Minister launched Canada's Science and Technology Strategy. In the last few budgets, we have backed up our strategy with significant new investments totalling more than $8 billion.

As part of Canada's Economic Action Plan, for example, our government is investing $200 million over two years for the National Research Council's Industrial Research Assistance Program.

It is through this program that we are able to support the innovative initiatives of Canadian firms.

We need to keep building a competitive advantage for Canada. We need to invest in science, technology and innovation to ensure that we gain and maintain a competitive edge. We need to encourage the growth of highly skilled jobs.

Our government is doing all this through measures announced in Canada's Economic Action Plan. And you are doing it all right here in Edmonton through research and development that will benefit the nanotechnology industry for years to come.

My sincere congratulations. I look forward to more good nanotechnology news from Edmonton in the not-too-distant future.

Thank you.