SASKATOON — Four industry-led research and development (R&D) projects through the Saskatchewan Advantage Innovation Fund (SAIF) and Agtech Growth Fund (AGF) are being allocated more than $1 million by Innovation Saskatchewan.
SAIF and AGF funding will support four innovative companies as they accelerate their R&D projects and commercialization efforts. The spring 2023 cohort includes:
- Titan Clean Energy Projects - Developing a fluid catalytic cracking technology for converting canola and other agricultural residues into renewable diesel, biocarbon, and fertilizer ($250,000 in SAIF support).
- RUNNR Delivery - Developing a platform to address inefficiencies in local logistics management ($135,000 in SAIF support).
- Environmental Material Science - Developing a novel soil sensor that will provide real-time measurement of moisture and nitrogen in the root zone, as well as collect data on soil properties that impact nutrient uptake ($378,000 in AGF support).
- Precision AI Inc. - Developing a "digital agronomist" by combining large language models with precision agriculture instrumentation ($250,000 in AGF support).
The announcement took place at RAYHAWK in Saskatoon, a previous recipient of SAIF funding. The formal program was followed by a demonstration of RAYHAWK's innovative autonomous railcar loading solution that improves safety, reliability and efficiency of bulk material loading.
RAYHAWK received SAIF funding from the Fall 2022 intake and reiterated the program's positive impact on Saskatchewan companies.
"As a startup company, SAIF funding has been pivotal to support the development of our innovative technologies," RAYHAWK President and CEO Tom Boehm said. "RAYHAWK will revolutionize the rail loading industry and our technology will be the industry leader for safety and operating efficiency in loadout facilities."
SAIF supports the commercialization of game-changing innovations in the province's core economic sectors, while the AGF operates in parallel to accelerate the commercialization of novel agricultural technologies.
Since 2012, SAIF has committed over $14 million in 58 projects, resulting in over $50 million in private investment and $103 million in post-project investment. Similarly, since AGF launched in 2020, the program has invested over $4.3 million in 22 projects, resulting in over $19 million in private investment and $17.5 million in post-project investment.
For more information about SAIF and AGF, visit: www.innovationsask.ca.
