Accelovant Receives Prestigious Jobs and Growth Fund Support to Expand Manufacturing and R&D in Canada

Minister Jonathan Wilkinson announced $1.1M funding to accelerate advanced fiber-optic sensor production for global markets

NORTH VANCOUVER, BC / ACCESSWIRE / January 3, 2023 / Accelovant, an innovative developer of fiber-optic sensing solutions for semiconductor, industrial, IoT, manufacturing, and power distribution markets, announced it has been awarded funding of over $1.1 million CAD from PacifiCan to ramp up production of its next-generation fiber-optic sensors for the semiconductor manufacturing market. The award was announced on behalf of the Honourable Harjit S. Sajjan, Minister for International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan) by Minister Jonathan Wilkinson at a ribbon-cutting event in late October to celebrate the opening of Accelovant's new development and manufacturing facility in North Vancouver. Accelovant is committed to building capacity in Canada to meet increasing market demands.

"We are grateful for the exceptional support and guidance we have received from the Government of Canada, especially Minister Sajjan, Minister Wilkinson, and the team at PacifiCan, in securing this vital funding," said Michael Goldstein, Accelovant chief executive officer. "Through their support, Accelovant will be positioned to compete across the globe utilizing Canadian-born intellectual property and manufacturing capacity."

Minister Jonathan Wilkinson Presents Support for Accelovant

Accelovant's patented fiber-optic sensors enhance productivity and speed of semiconductor manufacturing in chip foundries around the world. The current supply chain constrictions in the industry, as well as government initiatives, including the U.S. CHIPS and Science Act to build strategic capacity in the U.S., and Canada's Semiconductor Action Plan, have fueled expansion of manufacturing sites in North America and elsewhere, creating substantial opportunity for Accelovant to capture business with its unique solutions.

The new state-of-the-art mass production facility in North Vancouver, with a capacity of more than 20,000 units annually, is one of the largest capacity purpose-built fiber-optic sensors facilities in the world. The new facility is designed to meet the most stringent Copy-Exactly quality requirements of the semiconductor, transportation, and medical device industries.

In announcing the funding on behalf of Minister Sajjan, Jonathan Wilkinson commented, "This is a great example of the types of growth the Jobs and Growth fund was meant to empower. Leveraging the versatile and highly skilled workforce in B.C. companies such as Accelovant, we can continue to innovate and produce products which affect global industries and markets utilizing Canadian ingenuity and technologies."

Noting the significance of international markets in a written statement, Minister Sajjan said, "Our government wants Canada to be a strategic global leader in the semiconductor industry and we recognize the importance of creating jobs and positioning local economies for long-term growth. This announcement will allow Accelovant to continue filling an important role in the global semiconductor market and position this innovative B.C. business as a key contributor to Canada's economy."

To learn more about fiber-optic sensing solutions from Accelovant, please visit www.accelovant.com.

About Accelovant:

Headquartered in North Vancouver, British Columbia, Accelovant is a leader in the design and manufacture of fiber-optic sensing solutions for semiconductor, industrial, IoT, medical, and power distribution markets. With a vertically integrated approach that combines materials science mastery with design expertise, Accelovant delivers measurement solutions that increase yields, decrease costs, and provide exceptional domain and product support. Details are available at www.accelovant.com.