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Enter Symbol
or Name
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CA



Augusta Industries Inc
Symbol AAO
Shares Issued 256,114,871
Close 2018-03-05 C$ 0.025
Market Cap C$ 6,402,872
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Augusta to participate in Canadian government program

2018-03-05 11:56 ET - News Release

Mr. Allen Lone reports

AUGUSTA TO PARTICIPATE IN CANADIAN GOVERNMENT PROGRAM

Augusta Industries Inc.'s wholly owned subsidiary, FOX-TEK Canada Inc., has submitted a proposal to the government of Canada, in the form of a letter of interest, for a project with an objective to highlight clean technology research and development and demonstration projects in Canada's energy, mining, and forestry sectors. The corporation's model/prototype which will participate in the program is focused on landscape disturbances and waste management in the energy sector. FOX-TEK will team up with a number of industrial, academic and governmental collaborators on this project.

This program covers five areas focused on pressing environmental challenges and economic opportunities facing Canada's natural resource operations:

  • Reducing greenhouse gas and air-polluting emissions;
  • Minimizing landscape disturbances and improving waste management;
  • The production and use of advanced materials and bio-products;
  • Efficient energy use and productivity;
  • Reducing water use and impacts on aquatic ecosystems.

The program also puts into action the government of Canada's new collaborative approach of doing business by leveraging investments in publicly funded research, research centres, and provincial and territorial funding programs to better mobilize clean technologies. The program will advance emerging clean technologies toward commercial readiness so that natural resource operations can better reduce their impacts on air, land and water, while enhancing competitiveness and creating jobs.

A project is eligible if it advances a precommercial clean technology, between technology readiness, in Canada's energy, mining or forest sectors. All projects will be required to secure provincial and/or territorial support (financially and/or in-kind) by the full project proposal phase in order to be eligible for funding under this program.

About Augusta Industries Inc.

Through its wholly owned subsidiaries, Marcon International Inc. and FOX-TEK, Augusta Industries provides a variety of services and products to a number of clients.

Marcon is an industrial supply contractor servicing the energy sector and a number of United States government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment.

FOX-TEK provides world leading solutions to various sectors including the oil and gas industry.

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