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28.11.2023 09:00:01 CET | Tekna Holding ASA | Non-regulatory press releases
(Arendal, NORWAY / Sherbrooke QC, CANADA) Tekna Holding ASA (Tekna, OSE: TEKNA), a world-leading provider of advanced material solutions to industry, today announces an amendment to the contribution agreement with the Canadian Federal Government Strategic Innovation Fund (SIF) program initially announced on June 28th, 2018.
"This amendment is a significant milestone, confirming Tekna’s position as an industry leader. The extended support and enhanced financial framework under the SIF program are instrumental in driving forward our strategic initiatives. We are committed to leveraging this opportunity to further our technological advancements and market leadership," says Luc Dionne, CEO of Tekna Holding ASA.
Tekna Holding ASA's contribution agreement with the Canadian Federal Government's Strategic Innovation Fund, initially announced on June 28, 2018, has now been amended and extended to March 31, 2027. Under the terms of this amendment, the maximum amount to be disbursed by the Canadian Federal Government remains unchanged at CAD 20 million. To date, CAD 6.6 million has been disbursed.
The SIF program aims to stimulate high-quality business investments across various sectors. It supports R&D initiatives that enhance technology transfer, commercialization of innovative products, services, and processes, and encourages the growth of innovative firms.
“The SIF's contribution has been pivotal in our growth journey. The amended terms not only provide us with additional financial flexibility but also affirm the value of our ongoing projects. We are grateful for the support of Innovation, Science, and Economic Development Canada (ISED) throughout the amendment process. This collaboration is a testament to our commitment to innovation and sustainable development in the advanced materials sector," says Espen Schie, CFO of Tekna Holding ASA.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Contacts
- Arina Van Oost, Investor Relations | VP Corporate Strategic Development & Innovation, Tekna Holding ASA, +14388856330, +33670115190, investors@tekna.com
About Tekna Holding ASA
Tekna is a world-leading provider of advanced materials to industry, headquartered in Sherbrooke, Canada.
Tekna produces high-purity metal powders for applications such as 3D printing in the aerospace, medical and automotive sectors, as well as optimized induction plasma systems for industrial research and production. With its unique, IP-protected plasma technology, the company is well positioned in the growing market for advanced nanomaterials within the electronics and batteries industries.
Building on 30 years of delivering excellence, Tekna is a global player recognized for its quality products and its commitment to its large base of multinational blue-chip customers. Tekna’s powder products increase productivity and enable more efficient use of materials, thereby paving the way towards a more resilient supply chain and circular economy.