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Montréal, February 23, 2006 – SOVAR and BDC Venture Capital have awarded $1.2 million to Surfasys, a company whose technology originates from the mechanical engineering research laboratory of Université Laval. The funds are earmarked to test the commercial feasibility of a mechanical polishing process for industrial moulds used in the plastics industry, a process traditionally carried out manually.
This investment in Surfasys falls under the partnership concluded between SOVAR and BDC Venture Capital in 2004 for the seed funding of emerging leading-edge technology companies. This initiative provides university researchers developing new technologies or prototypes of products with a potential commercial value, the financial and business support necessary to turn their innovative projects into concrete reality.
"This project is an example of the impact of start-up capital on the commercialization of University research, states Mr. Pierre Pedneau, SOVAR President and CEO. This joint initiative of SOVAR and BDC Venture Capital leads the way for Surfasys for the marketing of cutting-edge discoveries in the field of industrial automation – a likely indicator of its bright future."
"Surfasys applies its advanced expertise in mechanical engineering and composite materials to improving the competitiveness of companies in the industrial moulding sector, standing out through its unique leadership and commitment, states Sylvain Savaria, Director, Technology Seed Investments with BDC. Surfasys' activities demonstrate well the business growth and innovation potential of the company."
The Surfasys team has developed a mechanical process using ductile electrode polishing of industrial moulds used in plastic injection moulding. This process is traditionally done by hand, which hampers the productivity of companies active in the sector. While a number of manufacturing processes have been automated over the years, manual polishing continues to be very costly for the companies involved.
"The cost of hand polishing a mould, in fact, can account for up to 40% of the mould manufacturing cost, says Alain Curodeau, President and founder of Surfasys. Automating the process would translate into increased competitiveness for industrial mould manufacturers."
About Surfasys
Surfasys develops tools allowing the automation of industrial moulds and parts polishing using a ductile electrode process. The technology used by Surfasys to manufacture these composite electrodes and carbon nanoparticles was discovered in the laboratory of Professor Alain Curodeau from Université Laval's mechanical engineering department.
About SOVAR SOVAR is a limited partnership whose mission is to promote the discoveries and innovations developed by researchers at Université Laval, the CHUQ and the CHRG. SOVAR's experts work in synergy with the researchers to promote their projects. The products, processes, services or technologies developed are ultimately transferred to existing companies or to new companies created to bring them to market.
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada, active at every stage of a company's development cycle, from seed through expansion. Its focus is on technology-based businesses with high growth potential that are positioned to become dominant players in their markets. Established in 1975, BDC Venture Capital has invested in over 400 firms to date. It currently manages some $550 million in venture capital investments in the life sciences, telecommunications, information technology, and advanced technology sectors, as well as investments in funds.
For information:
Yves Matte
Gestion Sovar inc.
(418) 650-2829, extension 233
ymatte@sovar.com
Eva Boucher-Hartling
Media Relations Manager
BDC
(514) 283-7929
Contact by email
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