TECTERRA Awards $500,000 to Blackline
May 26, 2015
Funding from Industry Investment Program to support product development
CALGARY, ALBERTA--(Marketwired - May 26, 2015) - Today Blackline GPS Corp. (TSX VENTURE:BLN) ("Blackline") announces that it has secured Industry Investment Program (IND) funding from TECTERRA, a national geomatics industry investment organization. This repayment-based program contributes valuable working capital to Alberta-based companies focused on development of integrated resource management solutions and their commercialization. Blackline previously received TECTERRA IND funding to develop its Loner Bridge System for monitoring the safety of employees working in remote locations.
"Our portfolio of investment and grant programs are designed to reduce risk and support companies through each phase of product development and commercialization," says Jonathan Neufeld, Director, Commercialization Programs at TECTERRA. "Based on their successful record of innovation and commercialization we are pleased to award Blackline with this IND support and are eager to see what innovative products they bring to market next."
"Prior to the launch of our Loner Bridge System, employers had no comprehensive way to monitor the safety of their personnel in remote locations," says Sean Stinson, VP Product Management at Blackline. "The support we received from TECTERRA to develop and launch our Loner Bridge System was extremely valuable. We look forward to the impact this second round of funding will have on our future development efforts."
Loner® safety monitoring solutions are designed to improve the outcome of an employee who has suffered a workplace injury, health event, or physical assault. Incorporating real-time communication and multiple location technologies, Blackline's products help employers manage an efficient emergency response to a worker's precise location. No matter where an employee is located-within buildings, populated areas, or the remote reaches of our planet, Blackline provides a complete suite of employee safety monitoring solution to match the challenge.
About TECTERRA: TECTERRA Inc. is a national organization supporting the Canadian development and commercialization of geomatics technologies for integrated resource management. With current funding from the Province of Alberta and the Government of Canada, TECTERRA invests in technology solutions for energy, forestry, agriculture, environment, and land management and development applications. The first centre of its kind, TECTERRA works with industry, entrepreneurs, researchers, and government partners to enable the use of geomatics technologies in addressing local, national and global challenges in resource management. TECTERRA, a non-profit organization, is governed by an independent Board of Directors representing key industry sectors associated with TECTERRA's focus markets. For more information, visit www.tecterra.com.
About Blackline: Blackline GPS Corp. (TSX VENTURE:BLN) is a wireless location leader that develops, manufactures, and markets products and services for worker safety monitoring. Targeting a broad cross-section of industries where safety is a corporate priority, Blackline's Loner solutions are promoted through offices in Calgary and the United Kingdom, and sold through a growing network of international distributors. Blackline's safety solutions deliver safety and location awareness through mobile messaging, monitoring portal, Blackline's Safety Operations Center, and web services. Blackline's vision is to become the leading supplier of wirelessly connected worker safety monitoring products in the world. Blackline products allow customers to protect their personnel, share the conditions of their environment, and connect with emergency services when necessary. Blackline solutions Protect. Share. Connect.® For more information, visit www.blacklinegps.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.