Volume 2, Issue 2: May 5, 2009
Recent Project Announcements
SIDIT supports "The Green Dream Home" project. - $100,000. Grant funded April 2009.
Kamloops, B.C. Canadian Home Builders Association Central Interior and Thompson Rivers University awarded CMHC’s EQuilibrium™ Sustainable Housing Demonstration Initiative.
MP Cathy McLeod and representatives from Canada Mortgage and Housing Corporation (CMHC) BC and Ottawa announced February 2009 that the Canadian Home Builders Association Central Interior and Thompson Rivers University were one of three successful submissions in Canada for the second phase of CMHC’s EQuilibrium™ Sustainable Housing Demonstration Initiatives in Canada. The CHBA CI and TRU partnership will build an eco-friendly home that is net zero, which means it will generate as much energy as it consumes so that there are no energy costs to the homeowner.
CHBA CI was successful in securing a $100,000 grant from the Southern Interior Development Initiative Trust (SIDIT) to offset some of the extra technology and marketing costs for this ambitious project.
Luby Pow, CEO of SIDIT said, “SIDIT is very pleased to support the Green Dream Home Project as it encourages the development and usage of energy and environmentally sustainable products and matches hands on training of students with new green technology in home building.”
Complete Home Energy Ltd., Kelowna - SIDIT financing April 2009.
Complete Home Energy Ltd. is a leading energy efficiency residential and commercial renovation company. SIDIT financing will assist the company to provide a variety of energy efficient renovations to approximately 400 homes in the Greater Okanagan and Cranbrook areas.
Delta C. Technologies Inc., Salmon Arm - SIDIT Loan advanced March 2009.
SIDIT financing will enhance and leverage an existing 20 year business in the areas of local and regionalized manufacturing through acquisition of an electronics board manufacturer and technology product enhancements company. Expansion of this business model will result in further diversifying the existing Crude Oil and Gas Market focus into growing International market focus.
Waveteq Communications Inc., Lake Country - Credit Facilities March 2009.
Waveteq Communications Inc. is an Okanagan Valley based manufacturer of an innovative and highly cost effective wireless solution that enables the deployment of advanced fixed and portable communications networks for wireless internet service providers, municipal districts, industry networks and value added resellers. SIDIT was pleased to advance the first tranche of funding to assist the company is accelerating their sales program, provide additional working capital for growth and to accelerate their software engine development program.
Always “On” UPS Systems Inc., Kelowna - SIDIT Loan advanced March 2009.
SIDIT was pleased to provide loan financing for this established company that designs and manufactures high quality Uninterruptible Power Supplies and Power Conditioning Products.
SIDIT funds will assist the company with working capital for growth, acceleration of sales and product development programs.
Funding Approvals
To date, SIDIT has approved $1.8 million grants for projects valued at $11 million, $4.9 million Education Awards (3 year commitment) and $11 million Business Development Partnerships, loans or Equity Investments for projects valued over $34 million.
Upcoming Events
SIDIT’s next AGM & Board meeting is scheduled for June 24, 2009 in Kelowna.
