Open Oceans Systems recieves ACOA R&D funding for iCage

The Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency and Minister for the Atlantic Gateway, was in Charlotte County today to view the innovative marine cage system and announce funding to the Saint John-based Open Ocean Systems Inc.

“Our Government will contribute $228,230 to Open Ocean Systems Inc. to further develop the aquaculture farming industry,” said Minister Ashfield. “This investment will help Open Ocean Systems Inc. to build its skilled workforce and enhance its marketing capacity to compete in global markets.”

Incorporated in November 2005, Open Ocean Systems Inc. of Saint John is a company specializing in the design of full and partially submerged marine cage systems designed for open ocean, warm water, aquaculture farming. ACOA’s investment under its Business Development Program (BDP) is aimed at developing international markets for the company’s innovative marine cage system, referred to as the iCageTM. Trade show attendance, web site development, demonstrations and hiring of Marketing and Customer Relationship experts are key elements to this project.

“ACOA’s focus on innovation gets more of the region’s cutting edge R&D into the marketplace, boosts business productivity, increases exports and creates good-paying jobs and overall economic growth,” said Minister Ashfield. “It’s about good science, smart business and a great investment in the future of Atlantic Canada.”

“The federal government has been, and continues to be, a valuable partner for Open Oceans Systems Inc. as we continue on our journey of commercialization of our innovative farming system which has been developed here in New Brunswick,” said Andrew Storey, President and CEO of Open Ocean Systems Inc. “This contribution will help to build a solid foundation for significant export sales, leading to future company growth, job creation for Atlantic Canada and continued innovation.”

The Government of Canada, through ACOA, is committed to investing in projects that help companies to grow, increase their competitiveness and create jobs.