Round 4 of Atlantic Innovation Fund:
Memorial Researchers get $3.7 million
The Atlantic Canada Opportunities Agency (ACOA) held a news conference Jan. 18, 2006 in Memorial's Inco Innovation Centre to announce details of Round IV of the Atlantic Innovation Fund (AIF). Loyola Hearn, minister of Fisheries and Oceans and regional minister for Newfoundland and Labrador, released the details of the eight projects in the province that will receive up to $16.7 million in funding under the Government of Canada's Atlantic Innovation Fund.
Two Memorial University researchers received a total of $3.7 million from the AIF:
Small Craft Simulation - Backbone Technology Development Researchers at Memorial's Faculty of Engineering and Applied Science will develop market-ready prototypes for small craft simulation. The simulator training will replicate scenario-based, mission-oriented conditions to the extent necessary to trigger behavioural responses in the trainees. The project will improve skills and situational awareness, enhance human performance, and reduce the probability of human error and accidents.
The project leader is Dr. Brian Veitch, associate professor, Faculty of Engineering and Applied Science. Virtual Marine Technologies Inc. will market and sell the simulators. With total estimated costs of approximately $4.1 million, the project will receive up to $2 million in assistance from the Atlantic Innovation Fund over three years.
Advanced Well Completion Modeling and Optimization - Memorial will lead the research and development of a three-year oil and gas related project with industry partners. The end products will be implemented in commercial software for oil and gas industry applications in field developments with emphasis on optimal well design and flow assurance.
The products will be directly applicable to developments in Atlantic Canada and in particular to offshore Newfoundland and Labrador. These fields will be continuously subject to well optimization and implementation of new technology for increased production and delineation of reserves. With total estimated costs of approximately $2.8 million, the project will receive up to $1.7 million from the Atlantic Innovation Fund over a three-year period. Dr. Thormod Johansen, Canada Research Chair in Petroleum Reservoir Engineering and Characterization, Faculty of Engineering and Applied Science is the project leader.
Memorial is also a participant on two other projects which received AIF funding in the fourth round: Newfoundland and Labrador Hydro - Remote Community Wind-Hydrogen-Diesel Energy Solution. Newfoundland and Labrador Hydro (Hydro); and NewLab Clinical Research Inc. - Psoriasis Target and Drug Development. The AIF announcement came as part of a series of announcements to release details on the 29 innovative research and development projects that will receive up to $67.1 million in AIF funding throughout Atlantic Canada.