Cymat receives Canadian government NRC-IRAP funding
Toronto's Cymat Technologies Ltd is pleased to announce that it has received a non-repayable contribution of up to $280,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), a federally-funded program that supports the commercialization of innovative Canadian technologies.
The contribution will support Cymat’s development program in securing its metal matrix composite raw material supply, reducing raw material costs and developing new industrial markets for its SAF. In addition, NRC-IRAP will also provide both technical and business-oriented advisory services.
"We are pleased to secure funding and advisory support from NRC-IRAP," stated Tim Hardman, Cymat’s President. "This is the first phase of an anticipated multi-phased government funding initiative. Work completed under this program should significantly enhance Cymat’s commercialization efforts in our 3 lines of business: blast mitigation, architectural and automotive" he added.