BIC invests in bio-sourced fire suppression company
December 14, 2017
By Bioindustrial Innovation Canada
Dec. 14, 2017 - Bioindustrial Innovation Canada (BIC) is pleased to announce that it has made a COMM SCI investment in FireRein Inc, through BIC’s Sustainable Chemistry Alliance (SCA) investment fund, as part of an investment round that will allow FireRein to increase sales in the North American market.
Napanee, Ont.-based FireRein has launched the world’s first 100 per cent bio-sourced and 100 per cent food-grade fire suppression water additive, to address a known water additive dilemma, and they are poised to revolutionize the fire suppression industry. Eco-Gel will save lives, property and the environment around the world. This investment provides operating capital for FireRein to commission commercial-scale production of their proprietary Eco-Gel, expand their team, and will catalyze further private and public-sector funding as the company enters the next critical stage of growth.
“Bioindustrial Innovation Canada is excited about the opportunity to support FireRein’s commercialization activities through this investment. Their product provides enhanced fire suppression capability, while addressing the toxicity issue with traditional products. This is a positive combination,” says Sandy Marshall, Executive Director of BIC.
“We are pleased to be working with BIC. Their mission to enhance renewables content in the chemical and materials industries aligns with both our corporate mission and company values,” states Rui Resendes, CEO of FireRein. “The strong relationships that BIC has with world-class chemical and energy companies will greatly enhance our market development efforts within these sectors.”
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