News

Redline Communications gets $14 million in federal funding for industrial 5G project

MARKHAM, Ont. - Redline Communications will receive $14 million in federal funds to design high-speed wireless equipment for use in the mining, utilities and oil and gas sectors.

Funds for Redline’s 5G technology project comes from the federal government’s strategic innovation fund for eligible corporations doing business in Canada.

The funds will support a $39.5 million Redline project that the company says will create or maintains 111 jobs and up to 13 co-op jobs.

Redline’s project will design high-speed wireless equipment to remotely monitor machinery for the mining, utility and oil and gas industries.

The previously announced strategic innovation fund is designed to provide contributions of $10 million or more toward projects with total costs of at least $20 million.

Redline, which trades on the Toronto Stock Exchange, is based in Markham, Ont. and has a market capitalization of about $9.3 million.
Read more on Toronto Star
News Topics :
RELATED STORIES :
World
NEW YORK The U.S. communications regulator will hold a massive auction to bolster 5G service, the next generation of mobile networks, and will spend $20 billion for rural internet....
Business
The collapse in the price of oil over the past two years has created a problem not only for oil producers but also for companies which provide products and services...
Business
OTTAWA The federal government will announce a $49 million grant to help automotive parts maker Linamar Corp. develop its advanced manufacturing technologies. Economic Development Minister Navdeep Bains will make the...
Canada
OTTAWA – The federal and Ontario governments announced grants Monday worth up to $100 million combined to help automotive parts maker Linamar Cor p. develop its advanced manufacturing technologies. The...
Technology
Rollout of 5G networks is expected to begin in Canada in 2020, promising to transform modern communications and to be a political minefield for the federal government. SHARE TORONTO...