The National Research Council (NRC) officially opened its Industry Partnership Facility (IPF) on Oct. 23, on Memorial’s St. John's campus. The new $5.7 million, 3,500 square metre facility will provide entrepreneurs with access to world-class expertise and to state-of-the-art facilities to help develop, test and commercialize new ocean technologies. It will also provide office space for incubating and established companies in the field, as well as conference rooms and an expanded NRC Information Centre for scientific and technical information.

Bill Matthews, member of Parliament for Burin-St. George's, on behalf of Allan Rock, minister of Industry and minister responsible for the National Research Council (NRC), and Dr. Arthur Carty, NRC president made the announcement.

The NRC Industrial Partnership Facility will integrate science and business to create new technologies and new opportunities in many sectors of the economy. Funding for this facility was made available though the Atlantic Investment Partnership, which seeks to foster Atlantic Canada's competitive edge in the global knowledge-based economy.

Dr. Carty also announced the renaming of the NRC Institute for Marine Dynamics (NRC-IMD), home to the new Industrial Partnership Facility. The new name is the NRC Institute for Ocean Technology (NRC-IOT), reflecting the institute's expanded focus on new marine and ocean technologies, as well as on emerging opportunities for the Province of Newfoundland and Labrador.

The NRC-IOT was established in 1985 to provide innovative solutions and technical expertise in support of Canadian ocean technology industries. It is a world leader in marine engineering R&D, with programs in propulsion systems, safety at sea, ship-model correlation, aquaculture technology, underwater vehicles, deep water technologies, wave impacts, and ice forces on structures and vessels. Researchers work with domestic and international companies to develop Canadian industries, including those related to oil and gas, shipping and ship design, and many others.