$40M invested in CBN’s nanotechnology department

The federal government has invested $40 million in a two-year-old nanotechnology department of the Canadian Bank Note Company (CBN), one of three printers of Canadian stamps.

“Nanotechnology and nanomanufacturing represent the next frontier for advanced manufacturing, and they are being developed by Canadian innovators today, right here in Ottawa,” said Navdeep Bains, federal Liberal minister of innovation, science and economic development, who announced the investment on July 10.

“This investment will create hundreds of highly skilled jobs and make a difference in Canadians’ lives by improving health care treatments, protecting Canadians against fraud and helping produce super-efficient solar energy.”

Based in the nation’s capital, CBN is responsible for all of Canada Post’s engraved stamps – plus other philatelic contracts it successful bids on – and also produces polymer banknotes, passports and other security documents for both governments and industries worldwide.

CBN’s nanotechnology project has a budget of $220 million with the remaining $180 coming from within the long-running security printing firm.

“CBN is making the largest research and development investment in its more than 120-year history in this nano project,” said CNB President and CEO Ron Arends, who added, “this project has the potential to put Canada in a pre-eminent position leading the next-generation manufacturing economy.”

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