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Markham : Innovation + Job News

32 Markham Articles | Page: | Show All

NorthGrid Solar opens 2 new offices, hiring "dozens and dozens" due to Ontario FIT program

The Ontario Government's Feed-In-Tariff (FIT) program for renewable energy -- which guarantees an above-market rate for 20 years to those who feed the grid with sustainable power -- has created a bonanza for those in the sustainable power generation business. Last week, the province announced that 500 projects had been approved under the program, and many more announcements are pending.

Among those benefiting is Markham-based NorthGrid Solar, who on March 15 announced the opening of two new regional offices in Ontario in Ottawa and Sault Ste. Marie, which add to the reach of the company's existing offices in Markham and Hamilton. According to NorthGrid Solar President and CEO Carlo Di Gioacchino, the company has not even really begun to fulfill its expansion plans. "The FIT program has improved business dramatically," he says. "We've really just launched our partnership in the last couple of months and we've already exceeded our first-year projections by orders of magnitude."

The company is currently hiring, and Di Gioaccino says they're looking to take on "dozens and dozens" of employees over the next year as projects get approved. He says that most of the jobs will be located in the city of Toronto, where the company is currently seeking a site for a large industrial manufacturing space.

Writer: Edward Keenan
Source: Carlo Di Gioacchino, President & CEO, NorthGrid Solar

YM Biosciences gets $17.5 million in new financing for drug development research

YM Biosciences, based in Mississauga, is in the business of turning our country's investments in health sciences research and innovation into products that can be brought to market and improve public health. "We take our public investment in innovation and turn it into a return for society," says David Allan, the company's CEO. Hospitals and universities spend billions of public dollars on basic research, he notes, but very little of it is pursued beyond the basic stage. YM Biosciences uses that basic research to pursue clinical trials to prove the efficacy of drugs for the market.

Allan says he is surprised and somewhat dismayed that there are very few companies doing what his does, noting that the investment in research we make as citizens is so often wasted -- that is, it finds no public health application. And he also sees it as a huge opportunity, "it's almost free food," he says. Which doesn't mean conducting clinical trials is inexpensive.

Last week, YM Biosciences secured US$17.5 million in financing by issuing shares. The money will be used to pursue three products it is currently developing. Allan says that as drug testers, YM Biosciences is a "huge consumer of capital," and that the company has raised roughly $200 million in financing in the 15 years since its founding.

Writer: Edward Keenan
Source: David Allan, CEO, YM Biosciences
32 Markham Articles | Page: | Show All
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