Canada's New Government Announces $29 Million Investment In Innovative Environmental Projects

Rivière-du-Loup, November 14, 2006 — The Honourable Jean-Pierre Blackburn, Minister of Labour and Minister of the Economic Development Agency of Canada for the Regions of Quebec, today announced on behalf of the Honourable Maxime Bernier, Minister of Industry, repayable investments totalling $29 million in research and development (R&D) projects by Premier Tech Ltd., a Rivière-du-Loup-based company. The funding is part of three separate projects totalling $79.6 million that will generate environmental benefits for Canadians, including water quality and energy conservation.

"These R&D projects will produce benefits not only here in Quebec, but in various parts of the country," said Minister Blackburn. "Investing; in sustainable development and environmental technologies benefits Canadians and provides them with a cleaner and healthier country."

"Innovation is vital for economic strength," said Minister Bernier. "Companies like Premier Tech are increasing knowledge and developing new solutions to environmental challenges, ensuring that Canada remains competitive in global markets."

Premier Tech specializes in the design and production of peat moss-based growing media for commercial operators and consumers. The financial assistance from Canada's new government will help to:

• develop improved equipment for innovative peat harvesting and storage systems, resulting in reduced dust emissions, energy consumption, and product and packaging waste, as well as improved regeneration of wetlands;
• create on-site wastewater treatment technologies to solve environmental problems associated with wastewater systems and ensure optimal management of water resources;
• introduce beneficial organisms to growing media to produce plants that are more resistant to drought and disease.

"These investments in our innovation, research and development program will lead to the creation of over 150 new products," said Premier Tech President and Chief Executive Officer Jean Bélanger.

A repayable investment of $19.1 million is being made by Technology Partnerships Canada, an agency of Industry Canada, and $9.9 million by the Economic Development Agency of Canada for the Regions of Quebec.

For more information, please contact:

Isabelle Fontaine
Office of the Honourable Maxime Bernier
Minister of Industry
(613) 995-9001

Media Relations
Industry Canada
(613) 943-2502

Roxane Marchand
Office of the Honourable Jean-Pierre Blackburn
Minister of Labour and Minister of the Economic Development Agency of Canada for the Regions of Quebec
(819) 953-5646 (office)
(613) 816-5094 (cellphone)

The news release and other documents are available on the Technology Partnerships Canada website at http://www.tpc-ptc.ic.gc.ca.

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