Government of Canada Provides Financial Support for Ecosens Energie Inc.

SHAWINIGAN, QUEBEC--(Marketwire - Jan. 25, 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, today announced that Écosens Énergie Inc. has received financial assistance from the Government of Canada to acquire the equipment required for its startup.

"The startup of innovative enterprises, such as Écosens Énergie Inc., contributes in particular to the diversification of the regional economy and the creation of employment," stated Minister Lebel. "So the Government of Canada had no hesitation in lending its support to this enterprise."

Since 2006, Écosens Énergie Inc. has been focussing on research and development in the field of central heating systems using forest biomass. The enterprise is now ready to begin the commercial operation phase of its fully automated equipment using advanced technology. Through the financial contribution from Canada Economic Development, this innovative SME will be able to acquire specialized equipment for assembling its prototypes and to obtain the necessary certifications.

The $136,050 in repayable financial assistance announced today was provided under the Temporary Initiative for the Strengthening of Quebec's Forest Economies (TISQFE).

About the TISQFE

The TISQFE was brought into force in June 2010 to help communities affected by the forestry crisis diversify their economies in order to ensure their growth and create and maintain employment. The initiative's goal is also to support small and medium-sized enterprises established in those communities so as to ensure their survival and sustainable development.

On July 14, 2011, the Government of Canada announced its intention to allocate a further $20 million in funding over two years to support the Quebec silvicultural sector for 2011 and 2012.

This measure is one of several put in place by the Government of Canada in the past few months to counteract the effects of the forest crisis. Others include the Community Adjustment Fund, with its $1-billion budget over two years to mitigate the impact of the crisis, the $1 billion granted for the Pulp and Paper Green Transformation Program to help enterprises carry out environmentally-friendly projects and the $230 million invested, in collaboration with the Government of Quebec, for silvicultural work and the restoration of bridges and culverts on multi-use forest roads. Workers have also received their fair share of support, with the Government of Canada introducing some of the most generous measures in history to help them through the economic crisis.

To learn more about Écosens Énergie: www.ecosens-energie.com

Keep up with the latest news from Canada Economic Development by visiting www.dec-ced.gc.ca or subscribing to @CanEconDev on Twitter.