Friday, March 20, 2015

Memex Automation (TSX-V: OEE) qualifies for up to $800,000 in funding from FedDev Ontario



Yesterday was a very exciting day at Memex Automation!
 
March 19, 2015   Press Releases

Burlington, ON, Canada – March 19, 2015 – Astrix Networks Inc. (“Astrix”), (operating as Memex Automation (“Memex”) (TSX-V: OEE), the global leader of manufacturing Machine to Machine (M2M) productivity software, has qualified for up to $800,000 in Government of Canada funding directed specifically towards the continued development of its flagship product, MERLIN (Manufacturing Enterprise Real-time Lean Information Network) software. The funding announcement took place today at the company’s Burlington head office in a joint press conference with Minister of State for the Federal Economic Development Agency for Southern Ontario, Gary Goodyear, and local Burlington Member of Parliament, Mike Wallace, along with senior company executives.

The Government of Canada’s repayable contribution, through FedDev Ontario’s Investing in Business Innovation (IBI) initiative, is aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.

IBI provides a repayable contribution of up to one-third of eligible costs of a project. A key element to the Memex Automation’s qualification for this initiative was the successful completion of its $2 million non-brokered private placement completed last August, representing two-thirds of the project cost. The company will be responsible for repaying all funds advanced without interest commencing in 2017.

“Advanced technologies are increasingly being adopted by our manufacturers as they seek to improve their competitiveness,” said Gary Goodyear, Minister of State for FedDev Ontario. “This investment is an example of how our Government is helping manufacturers stay in the region to create new jobs and foster innovation.”

“Memex Automation is changing how manufacturers operate by providing ways to maximize the efficiency of existing machines on the shop floor,” said Mike Wallace, Member of Parliament for Burlington. “Our Government is proud to support this innovative technology that will help businesses in such a key sector of our economy.”

“We are grateful for the support from the Government of Canada’s Investing in Business Innovation initiative from FedDev Ontario” said David McPhail, President and CEO of Memex Automation.  “Memex Automation is a high-growth company that is adding knowledge-based jobs in Canada while we transform the productivity of global manufacturing firms with our shop-floor-to-top-floor communications technology. This important funding will be invested in accelerating the development and world-wide customer adoption of our MERLIN (Manufacturing Enterprise Real-time Lean Information Network) software solution.”

About FedDev Ontario:
The Government of Canada’s Federal Economic Development Agency for Southern Ontario (FedDev Ontario) delivers programs and services to help create, retain and grow businesses, cultivate partnerships and build strong communities. FedDev Ontario’s programming is designed to support a strong southern Ontario economy and position the region to compete globally. For more information, please visit www.FedDevOntario.gc.ca.

About Memex Automation:
Memex Automation provides award winning software to measure Machine to Machine (M2M) productivity and Overall Equipment Effectiveness (“OEE”) in real-time. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE metrics for each machine in every plant. MERLIN is used by leading machine tool companies as a complete shop floor communications platform.  For more information, please visit: www.memex.ca.

Media Contacts
Leanne Rattray, Communications Specialist
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@memex.ca
David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@memex.ca

Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To see the full press release, please click here.


Above is the Honorable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario announcing that Memex Automation has qualified for up to $800,000 in Government of Canada funding directed specifically towards the continued development of its flagship product, MERLIN (Manufacturing Enterprise Real-time Lean Information Network) software. 


 Above is Mike Wallace, Member of Parliament for Burlington speaking on the importance of small businesses such as Memex in the Burlington area.


Above is David McPhail, President, CEO and Chairman of the Board for Memex Automation giving his acceptance speech.


Above is the Honorable Gary Goodyear and Mike Wallace watching the demo of MERLIN.

Online media reports
 
Canadian Manufacturing Magazine (on its Web site and in its email newsletter sent today)
Burlington, Ont. software firm nabs $800K in federal funding
 
Canadian Manufacturers and Exporters (using Federal release) 
CME congratulates Burlington, ON-based Memex Automation on FedDev Ontario investment
 
Burlington Gazette
Mike Wallace helps federal minister deliver cheques for $899,093 to innovative Burlington corporations; is there an election coming?
 
CHML radio
FedDev investments boost growing Burlington companies
 
Shop Metalworking Technology
$800,000 in fed funding for Memex Automation
 
FF Journal
Memex Automation (TSX-V:OEE) qualifies for up to $800,000 in funding from FedDev Ontario 
 
Electronic Products and Technology 
Machine Monitoring boosts machine tool productivity
This item was already in process and was posted today. It is about MERLIN as a "Hot New Product"
 
Postings of press releases
 
Marketwired
Memex Automation (TSX-V:OEE) qualifies for up to $800,000 in funding from FedDev Ontario 
 
FedDev Posting 
Harper government supports Memex Automation technology to improve manufacturing technology
 
Government of Canada News sites 
Harper government supports Memex Automation technology to improve manufacturing technology
 
Minister Goodyear's remarks
Investing in Business Innovation Initiative funding announcement for Memex Automation