Nov. 4, 2008
FREDERICTON (CNB) - Seven positions will be created at LuminUltra Technologies Ltd. in Fredericton to help with market diversification, thanks to a $200,000 term loan from the provincial government. Business New Brunswick Minister Greg Byrne made the announcement today.
"Our government is supporting LuminUltra as it continues to grow its operation and diversify its market," Byrne said. "LuminUltra is proving that in New Brunswick, companies can be innovative, can be more competitive, and can be more successful as they compete in the global marketplace."
The company was formed in 2004 to market a new technology for measuring adenosine triphosphate as a real-time indicator of micro-organisms in water and wastewater systems. It helps countries around the world maintain healthy drinking water, and provides opportunities for increased cost effectiveness and energy efficiency in industrial water and wastewater treatment operations.
"During our four years of commercial operations we have maintained a commitment to innovation and continuous improvement," said Pat Whalen, vice-president of operations for LuminUltra. "This innovation not only involves the development of new techniques and products, but also developing new markets for our existing and future products, an example of which would be our recent identification of the metalworking, manufacturing, and oil and gas sectors as key growth markets for our products."
The loan will provide the company with working capital. The company has recently diversified its area of focus to elevate its position in the pulp and paper industry.
The Government of New Brunswick has been fulfilling its commitment to assist New Brunswick companies invest in their operations. Companies helped include AL-PACK in Moncton, IPL in Edmundston, and Future Alternative Wood Products in Bathurst.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-453-2694; Pat Whalen, vice-president, operations, LuminUltra Technologies Inc, 506-459-8777.