To support the continued growth of Newfoundland and Labrador’s ocean technology sector, the Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, today announced a $467,500 investment in SubC Imaging to support the company as it develops a new underwater inspection system.
Clarenville-based SubC Imaging builds complete imaging solutions for clients around the world. The company is developing a multi-channel inspection system that includes up to six cameras for an ROV to provide full situational awareness. New software will be developed to merge the various sources of data into one system. The solution will combine cameras, lights, lasers, software and cloud-based infrastructure for end-to-end inspections and surveys.
The offshore energy sector requires regular inspections of subsea equipment, often requiring specialized personnel from multiple disciplines and a collection of various inspections. This new technology will enable SubC to provide an important service in the energy sector to closely monitor and inspect underwater assets in a more cost-effective and efficient manner than is currently being used.
SubC started as a home-based business in 2010 and now has more than 20 employees. The Provincial Government’s contribution of $467,500 from the Innovation and Business Development Fund matches SubC’s investment for a total project cost of $935,000.
The Innovation and Business Development Fund provides investments to grow Newfoundland and Labrador’s oil and gas supply and service capabilities, including opportunities to diversify capacities in other energy sectors. Support for these projects demonstrates the Provincial Government’s commitment to strengthen the province’s economic foundation by facilitating growth and innovation in our industries and technologies.
Quotes
“SubC has shown time and again it can compete in the global marketplace while creating valuable tech-based jobs in rural Newfoundland and Labrador. Our government is pleased to support ocean technology companies such as SubC by providing them with the tools needed to compete in an increasingly globalized market.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“Investing in the development of new inspection and survey systems will enable us to enter the market faster and achieve a greater impact than we could otherwise. We have worked with experts for the past year to develop product market and technology strategies, and we are ready to hit the seafloor running. With ocean tech poised for significant growth and a promising future, this investment makes a lot of sense. There is no more ideal location for advancing ocean technology than Newfoundland and Labrador.”
Chad Collett
CEO, SubC Imaging
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