TrustBIX Inc. To Share in $49.5M Investment to Spur Canadian Agricultural Global Competitiveness

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(TheNewswire)

July 22, 2019 - Today the Honourable Amarjeet Sohi, Minister of Natural Resources, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of up to $49.5 million in the Canadian Agri-Food Automation and Intelligence Network (CAAIN), a network bringing together the private sector, academia and research institutions to accelerate the automation and digitization of Canada’s agricultural sector.

CAAIN brings together over 61 technology and agri-food companies to create new solutions that improve competitiveness, drive growth in both sectors and create jobs. It is a platform to pursue precision, productivity, trust and premiums.  Projects within CAAIN will use a variety of technologies such as artificial intelligence, advanced sensors, hyperspectral imaging and blockchain.  

The $49.5 million was awarded to Alberta Innovates and its partners in the Strategic Innovation Fund competition.  Alberta Innovates will be partnering with organizations including the Vineland Research and Innovation Centre, Olds College, MDA Systems Ltd., Linamar Corp., Lakeland College, DOT Technology Corporation and TrustBIX Inc. They will share $49.5 million in funding.  CAAIN is expected to begin with eight partners from British Columbia, Alberta, Saskatchewan, Ontario and Quebec.

Upon hearing the news, Hubert Lau, CEO of TrustBIX Inc. commented, “We are excited to be a part of this initiative. Working with this dynamic group will allow us to further enhance our role in driving a world where we trust more, waste less and reward sustainable behaviour. CAAIN will support TrustBIX Inc. to continue to focus on data collection throughout the agricultural supply chain while building a solid network of shared data and traceability through economic collaboration.  This investment will further aid growth, innovation and competitiveness within the Canadian agricultural and agrifood industries.”

     

About TrustBIX Inc.

As an innovative leader, TrustBIX Inc. provides agri-food traceability solutions in Canada, United States, China and Mexico.  By addressing consumer and agri-food business demands, the company will become the most trusted and largest source of third-party food traceability and sustainability information globally – Gate to Plate®.  TrustBIX Inc.’s focus is to create a world where we trust more, waste less and reward sustainable behaviour.  The company’s proprietary, leading-edge and secure distributed ledger platform, Business InfoXchange System (BIX), and its unique use of incentive solutions deliver independent validation of food provenance and sustainable production practices within the supply chain.  ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in North America and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.

FOR MORE INFORMATION CONTACT:

Mr Hubert Lau, CEO

Email: info@trustbix.com

Neither the 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.

   

Copyright (c) 2019 TheNewswire - All rights reserved.