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
Phone: 905-635-1540 ext. 103
Email: leanne.rattray@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 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
