EMSAT Corporation is graduating from Memorial Universitys Genesis Centre today.
The Genesis Centre is Memorials business support network for technology-based ventures that have high growth potential and are seeking business guidance and capital.
EMSATs graduation comes as a result of the companys recent success with its pilot partner, Alberta Innovates Technology Futures (AITF). EMSAT completed phase one of a pilot project with AITF in March of 2013 to develop an interface for an integrated carbon capture and storage (CCS) monitoring system.
Due to the success of phase one, EMSAT recently signed a partnership agreement to complete phase two of the project and, together with AITF, work with industry to implement the solution. The end result of the project will be a system for real-time measurement, monitoring and verification of a geological CO2 storage site. The pilot project represents a unique application of EMSATs technology and will help to launch the company commercially.
The EMSAT management team of Dan Brake and Philippe LeBlanc combined their respective software development, business administration and environmental management skills to build an innovative and exciting new company. Mr. Brakes career includes designing and building various integrated software solutions in environmental, health and safety, aerospace, advertising and media distribution industries. He has worked with companies in Canada, the United States and in the United Kingdom managing clients needs worldwide.
Mr. LeBlanc brings to EMSAT more than 10 years of applied and academic experience in environmental management and impact assessment. He has been involved in a wide range of research projects from monitoring receding glaciers in northern Labrador to co-ordinating integrated environmental impact assessment of climate change in the Arctic.
As an important part of the provinces entrepreneurial community, the Genesis Centre provides business resources to client companies, in tandem with the technical and scientific resources of Memorial University, said Dr. Richard Marceau, vice-president (research), Memorial University. The university is proud of EMSAT Corporations success, and we look forward to their future growth and commercial prosperity.
The milestone of graduating from the Genesis Centre is very timely for EMSAT, said Mr. Brake. 2014 is an exciting and very important year for us as we move from R&D into commercialization and sales. Significant changes are supporting these efforts with new office space, a growing and talented team and fostering important industry partnerships. We have an innovative pilot project underway in Alberta that we will leverage for commercial opportunities and are seeing real traction with other projects we are developing. Real-time environmental monitoring is a relatively new field. We are in a very good position to be leaders in the growth of a new industry. Since forming EMSAT in 2010 we have had tremendous support and guidance from the Genesis Centre and on behalf of the EMSAT staff and board I want to express how grateful we are to the centre.
EMSAT is the 36th company to graduate from the Genesis Centre since 2000. The centre is currently working with seven other clients. It has helped its clients raise more than $23.9 million in private equity, 60 per cent of that amount coming from outside the province. Graduates include Rutter Technologies, Verafin, Genoa Design, Virtual Marine Technology and ClearRisk. The Genesis Centre was named Canadian Incubator of the Year in 2011.