A Bay Street company developing molecular-level technology for improved pesticides and other products has picked up a $3.8 million provincial investment.
Vive Nano says it has developed an environmentally-friendly process for creating products and materials using nanotechnology, the branch of technology dealing with dimensions below 100 nanometres (which equals one 10-millionth of a metre), a level that often involves work with individual molecules.
The Toronto company said its first product “reformulates” pesticides so that farmers can use less chemicals to protect crops, resulting in reduced emissions and less chemical run-off.
“Our nanoparticles for crop protection applications give end users the ability to increase crop yields with lower environmental impact,” the company said on its website.
The Ontario government’s contribution, announced Monday, will flow through its Innovation Demonstration Fund to help the company build a pilot plant, refine processes and come up to full production.
The province said the company expects to create 19 jobs over the next two years, including chemists, technicians, engineers and project managers.
“Ontario is serious about being in the innovation game,” Vive Nano CEO Keith Thomas said in the province’s release. “Vive Nano has a game-changing nanomaterials process that solves major problems for our global customers including cost, quality, and complexity.”