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Reflex Receives $500K in Financing from Canada

Photonics.com
Mar 2017
KIRKLAND, Québec, April 4, 2017 — Reflex Photonics Inc. has received $500,000 in funding from the Canadian government to help expand production and increase sales and export.

The funding was granted by local parliament member Francis Scarpaleggia, on behalf of Navdeep Bains, the federal Minister of Innovation, Science and Economic Development and Minister of Canadian Economic Development. The financing, with zero-percent interest, will be paid back over the course of five years.

“For sustained and inclusive growth, the Canadian economy needs business to invest in their futures through research and development, the acquisition of state of the art equipment and the commercialization of their products,” Scarpaleggia said. “A high-performing and forward looking enterprise, Reflex Photonics is contributing to the economic growth of Montreal and Canada and creating jobs for the middle class.”

The funding is established through the Canadian Economic Development for Québec Regions.

“It allows us to purchase some machinery that is going to make us more competitive,” said Michel Hamel, vice president of finance at Reflex Photonics. “Actually, it’s machinery we needed to upscale our production. This type of financing is really helpful for small companies because it is not easy to get financing for small companies.”

Hamel said the production expansion has helped the company consolidate more than 24 existing jobs and create 14 new ones.

Reflex Photonics is a developer of high-speed optical connectivity solutions for semiconductor packaging and data transfer applications.

Reflex PhotonicsCanadaexpansionfinancingindustry movesAmericasBusinessopticsindustrial

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