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November 22, 2013
For immediate release
BIO|FOOD|TECH purchases new specialized equipment thanks to Government of Canada and Prince Edward Island investments
Fisheries, Aquaculture and Rural Development
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“The timing for BIO|FOOD|TECH to get this new equipment couldn't be better. With the recent signing of the new Canada-EU trade agreement, BIO|FOOD|TECH's equipment will help their clients develop new products to reach new markets,” said Minister Shea. “Our PEI companies, including those in the agriculture and food processing sector, will greatly benefit from this historic agreement, which will create thousands of jobs for Canadians and give our businesses access to a half-billion new customers.”
In its 25th year of operation, this regional leader in science-based food product development is a key component of Atlantic Canada’s value-added food processing sector. BIO|FOOD|TECH has developed and expanded its food and bio-expertise and capabilities and offers a full suite of food and bio product and process development as well as quality management services.
"Government investment in new product development and innovation is a key recommendation of the Independent Review of the Prince Edward Island Lobster Fishery," said Minister MacKinley. "This investment in pasteurization equipment will assist the entire seafood industry in the development of new and innovative seafood products."
The Government of Canada, through ACOA’s Business Development Program, will invest $500,000 for new state-of-the-art equipment. The Government of Prince Edward Island will invest $170,000 under the Department of Innovation and Advanced Learning, and the Department of Fisheries, Aquaculture and Rural Development.
With the acquisition of this new equipment, BIO|FOOD|TECH will be better positioned to provide early pilot production services and facilities for companies in the process of commercializing their products to reach new markets.
“BIO|FOOD|TECH's Concept to Pilot to Market focus is all about assisting industry in developing and commercializing new products,” said Dr. Jim Smith, Executive Director, BioFoodTech. “Today's investment provides BIO|FOOD|TECH with modern tools to create exciting new products for our industry clients that will enable them to compete in a very demanding marketplace looking for convenience, safety, taste, novelty and value.”
BIO|FOOD|TECH anticipates it will purchase upwards of a dozen new equipment pieces, all of which should be in place by the end of this year.