Export Development Canada has invested $10 million in APG-Neuros, a provider of wastewater treatment solutions. The capital infusion will allow APG-Neuros to finish the research and development phase on two new turbo blower products. EDG has been working with APG-Neuros for 10 years.
OTTAWA, Sept. 3, 2019 /CNW/ – As part of its commitment to help Canadian cleantech companies scale-up and export, Export Development Canada (EDC) is pleased to announce its support for APG-Neuros, with a $10 million investment.
“EDC has been working with APG-Neuros for 10 years, supporting their rapid growth and ability to perform in the international space,” said Eugene Siklos, Vice-President of Investments at EDC.
“To keep pace with the expanding cleantech market, the company wants to update their innovative high-efficiency turbo blower technology. We look forward to seeing what the company will accomplish.”
The Quebec-based company has developed a ground-breaking approach to the water and wastewater treatment market, modernizing and bringing a much-needed change to the existing, aging industry.
Currently, 75 per cent of a typical wastewater treatment budget goes toward energy use. APG-Neuros’ technology reduces that energy consumption by up to 40 per cent, making the process more energy efficient. The company’s turbo blower technology is currently used in various municipal and industrial wastewater treatment facilities in Canada and around the world.
This $10 million investment will allow the company to finish the research and development phase on two new turbo blower products that will further reduce their customers’ energy consumption.
“We are very excited to benefit from EDC’s investment in our growth. We are confident that our new products will generate record-high energy savings for our customers on a global scale.”
Supporting this innovative and fast-growing sector of the Canadian economy has been a priority for EDC since 2012. Since then, EDC has facilitated more than $6 billion in cleantech business in 114 countries.
APG-Neuros is recognized as the force behind the successful introduction of the high-efficiency turbo blower technology to the water and wastewater treatment market in North America, Europe and the Middle-East, modernizing an aging industry. APG-Neuros turbo blowers are used in a variety of industrial applications and wastewater treatment processes, with over 1,300 units installed worldwide.
APG-Neuros continues to lead the industry by constantly driving and propelling innovation forward through the most technologically advanced products and aeration solutions to achieve maximum energy efficiency and operational flexibility for our customers.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business.