Government of Canada Lends Financial Support to Brayton Energy Canada Inc.

GATINEAU, QUEBEC--(Marketwire - Oct. 19, 2012) - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities and Minister of the Economic Development Agency of Canada for the Regions of Quebec, announces that Brayton Energy Canada Inc. was awarded financial assistance to acquire the equipment necessary to bring into production a pilot plant and create new research and development (R&D) facilities, which are being inaugurated today.

"This is yet another example of the Government of Canada's commitment to helping young enterprises that, like Brayton Energy Canada, are making the necessary investments to ensure their growth," commented Minister Lebel.

Founded in 2008, Brayton Energy Canada Inc. specializes in the design and development of ultra-compact heat exchangers. This funding allowed the engineering firm to acquire state-of-the-art equipment and launch production of a new product developed through its R&D activities.

This new technology uses a cold metal powder deposition process called Cold Spray, and should lead to a number of energy-efficient market applications. The firm will use this process to design and manufacture heat exchangers adapted to the needs of its clients in the energy and transportation sectors. Over the next few years, Brayton Energy Canada Inc. expects this project to result in the creation of some 20 jobs and that 90% of its output will be exported.

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This $400,000 in repayable funding has been awarded under Canada Economic Development's Business and Regional Growth program. Completion of this project will necessitate an overall investment of $1,897,500.

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