TrustBIX Inc. to share in $49.5 million investment

TrustBIX Inc. to share in $49.5 million investment

Agri-food traceability company TrustBIX is set to share in funding announced earlier this week by the federal government.

Earlier this week Amarjeet Sohi, Minister of Natural Resources, on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of up to $49.5 million in the Canadian Agri-Food Automation and Intelligence Network (CAAIN). CAAIN brings together the private sector, academia and research institutions to accelerate the automation and digitization of Canada’s agricultural sector.

The $49.5 million was awarded to Alberta Innovates and its partners in the Strategic Innovation Fund competition. Alberta Innovates will be partnering with organizations including the Vineland Research and Innovation Centre, Olds College, MDA Systems Ltd., Linamar Corp., Lakeland College, DOT Technology Corporation and TrustBIX Inc. They will share $49.5 million in funding. CAAIN is expected to begin with eight partners from British Columbia, Alberta, Saskatchewan, Ontario and Quebec.

“We are excited to be a part of this initiative. Working with this dynamic group will allow us to further enhance our role in driving a world where we trust more, waste less and reward sustainable behaviour,” said Hubert Lau, CEO of TrustBIX Inc.

“CAAIN will support TrustBIX Inc. to continue to focus on data collection throughout the agricultural supply chain while building a solid network of shared data and traceability through economic collaboration. This investment will further aid growth, innovation and competitiveness within the Canadian agricultural and agrifood industries.”

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