Canada's Horizon receives $1.9m grant to develop plastics technology

13 April 2011 15:43  [Source: ICIS news]

TORONTO (ICIS)--Ontario’s provincial government will help Horizon Plastics to commercialise a technology that produces plastics using fewer resources, it said on Wednesday.

Horizon’s technology would produce plastics using half the amount of raw material and less energy, oil, gas and water. It would also create less waste, the government said.

With its commercialisation, the technology could create about 350 jobs, the government said without disclosing details of the technology.

Ontario will provide Canadian dollars (C$) 2m ($1.9m) to support the project. The money will come from the government’s Innovation Demonstration Fund, it said.

Horizon, based in Cobourg, east of Toronto, develops and manufactures custom plastic products for the industrial, environmental and consumer sectors around the world.

The company describes itself as “a leader in the structural foam/structural web manufacturing process”.

($1 = C$0.96)

By: Stefan Baumgarten
+1 713 525 2653

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