Toronto, Ontario--(Newsfile Corp. - March 5, 2018) - Augusta Industries Inc. (TSXV: AAO) (the "Corporation"), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that its wholly-owned subsidiary, FOX-TEK Canada Inc. ("FOX-TEK"), has submitted a proposal to the Government of Canada, in the form of a letter of interest, for a project whose objective is to highlight clean technology research and development (R&D) and demonstration projects in Canada's energy, mining and forestry sectors. The Corporation's model/prototype which will participate in the program is focused on landscape disturbances and waste management in the energy sector. FOX-TEK will team up with a number of industrial, academic and governmental collaborators on this project.
This program covers five areas focused on pressing environmental challenges and economic opportunities facing Canada's natural resource operations:
- Reducing greenhouse gas and air-polluting emissions.
- Minimizing landscape disturbances and improving waste management.
- The production and use of advanced materials and bio-products.
- Efficient energy use and productivity.
- Reducing water use and impacts on aquatic ecosystems.
The program also puts into action the Government of Canada's new collaborative approach of doing business by leveraging investments in publicly funded research, research centres and provincial and territorial funding programs to better mobilize clean technologies. The program will advance emerging clean technologies toward commercial readiness so that natural resource operations can better reduce their impacts on air, land, and water, while enhancing competitiveness and creating jobs.
A project is eligible if it advances a pre-commercial clean technology, between technology readiness, in Canada's energy, mining, or forest sectors. All projects will be required to secure provincial and/or territorial support (financially and/or in-kind) by the full project proposal phase in order to be eligible for funding under this program.
About the Corporation:
Through its wholly owned subsidiaries, Marcon International Inc. ("Marcon") and FOX-TEK, the Corporation provides a variety of services and products to a number of clients.
Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment.
FOX-TEK provides world leading solutions to various sectors including the oil and gas industry. With non- intrusive technologies including: fiber optic sensors and electric field mapping systems; FOX-TEK is able to accurately measure changes that could negatively impact our client's operations.
Allen Lone, President, CEO, Augusta Industries Inc.
Tel: (905) 275-8111 Ext 226, email: email@example.com
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.
Cautionary Note regarding Forward-looking Statements
This news release includes certain information and forward-looking statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although the Corporation believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.