Local North Bay Company Nexco Scaling Up

Local North Bay Company Nexco Scaling Up

The project is expected to create 37 jobs

Anthony Rota, Member of Parliament for Nipissing–Timiskaming, today announced an unconditionally repayable contribution of $809,000 for Nexco Inc. to help with the development and production of new mining explosives technology.

"I'm excited that FedNor is supporting our revolutionary mining explosives technology. The funding is helping us scale up and innovate and will help bring to market a greener and more cost-effective solution for blasting in the mining industry." John Burrows, President Nexco Inc "We're proud to be investing in our community here in Northern Ontario and making a difference in the mining explosives industry."

 

 The funding, provided through FedNor’s Regional Economic Growth through Innovation (REGI) program, will allow Nexco Inc. to design and construct a small-scale pilot plant to modify explosive grade ammonium nitrate during the manufacturing process to produce a water-resistant ammonium nitrate particle. The pilot plant will help the company demonstrate the advantages and cost savings of their unique ammonium nitrate product over traditional commercial explosives currently available on the market.

 

In addition, the funding announced today will help with the design and acquisition of the equipment needed for both Nexco’s laboratory and demonstration plant, which will be used for ongoing testing of their innovative products. The project is expected to create 37 jobs and, once fully complete, it is anticipated that Nexco would be able to produce enough product to supply 11 percent of the North American market for ammonium nitrate.

 

Strong economies need strong and growing local businesses. That is why the Government of Canada is proud to be investing in projects like this, which support innovation and technology adoption, while helping a local business scale up and create high-quality jobs in Northern Ontario.

 “The Government of Canada is working hard for Northern Ontario. Today’s investment will ensure the region’s continued excellence in the mining industry by supporting innovation in North Bay and across northeastern Ontario. I’m looking forward to following Nexco’s progress over the coming years as they work to build their business and create good, sustainable employment right here in Nipissing-Timiskaming.” Anthony Rota, Member of Parliament for Nipissing–Timiskaming

 

Hello Awesome People!

It looks like you are using Ad Blocker. We can understand that you don't like to see the ads frequently. But please try to understand that our business survive on the ads. Main source of revenue is Ads, please support us by disabling ad blocker.

Thank you for visiting Report North Bay!

Test