Ministries invest USD 104 M to Burloak Technologies

Image: burloaktech.com

Minister of Democratic Institutions, on behalf of Minister of Innovation, Science and Economic Development, has announced a repayable federal investment of USD 14 M to advanced manufacturing company Burloak Technologies.

This investment will help create 295 new Canadian jobs by 2026 and will enable Burloak to open a new, world-class Additive Manufacturing Technology Centre in Burlington, Ontario, that will help make Canada a world leader in additive manufacturing.

Burloak’s investment in Ontario will also generate more R&D, more collaboration with post-secondary institutions and help strengthen the region’s advanced manufacturing cluster and supply chain.

This investment is made possible through the Strategic Innovation Fund, a program designed to attract and support high-quality business investments across all sectors of the economy, by encouraging R&D that will accelerate technology transfer and commercialization of innovative products, processes and services and facilitate the growth of innovative firms.