Injection mold maker Exacad gets funding for COVID-19 medical relief projects
The Quebec-based injection mold designer and manufacturer is one of three Canadian companies receiving a total of $6 million in funding from supercluster Next Generation Manufacturing Canada.
June 25, 2020 by Canadian Plastics
Quebec-based injection mold designer and manufacturer Exacad is one of three Canadian companies receiving a total of $6 million in funding from supercluster Next Generation Manufacturing Canada (NGen).
The funds are part of a $50-million investment by NGen, the industry-led organization behind Canada’s Advanced Manufacturing Supercluster, for manufacturers rapidly responding to COVID-19.
Exacad, headquartered in Boisbriand, Que., has received $1.8 million covering the total project cost of purchasing new equipment that will help increase production of advanced plastic medical molds to produce the plastic consumables needed for rapid diagnostics related to COVID-19.
The two other companies receiving funding are Cloud DX, a developer of health data technology based in Kitchener, Ont., which received $1.75 million, half the $3.5 million project cost to develop Pulsewave 2.0., a solution to remotely monitor COVID-19 patients with non-acute symptoms who have been sent home from the hospital but may require virtual care at home to fully recover; and Toronto-based textile computing company Myant Inc., which received $2.5 million for an almost $5 million project to manufacture and deploy the company’s “Skiin” textile-based wearable health monitoring system.
“During an unprecedented and challenging time, Canada’s advanced manufacturing companies have really stepped up to the plate and developed innovative solutions that will save lives and improve healthcare,” NGen CEO Jayson Myers said in a statement. “Every single one of these new manufacturing technologies will not only meet the immediate demands of the COVID-19 pandemic, but also build world-leading capabilities in Canadian manufacturing innovation that will support the future well-being and economic prosperity of Canadians as we move forward.”
NGen launched its Rapid Response Funding Program from the Innovation Superclusters Initiative in March. So far, 19 projects amounting to $27 million in funding are being developed.