Giatec Secures $17.5 Million for AI-Driven Concrete Innovation to Reduce Carbon Emissions

Giatec Awarded $17.5 Million From the Canadian Strategic Innovation Fund to Further Its Groundbreaking AI and Sensor-Based Innovations

OTTAWA, Ontario, October 8, 2024 (Newswire.com) - Giatec®, global leader in concrete technology platforms, is excited to secure $17.5 million from the Strategic Innovation Fund (SIF) to support the further development of groundbreaking sensor technologies and AI-based software solutions helping to reduce carbon emissions within the concrete industry. These products will be incorporated at the core of the Giatec SmartMix™ digital platform, an AI-driven solution designed to optimize concrete mixes for cost efficiency and reduced CO emissions. Through the integration of sensor technologies, SmartMix will monitor and adjust concrete mix design, reducing the carbon footprint of construction projects by 20%. As part of this project, Giatec is committed to implementing these innovations into the world's first smart ready-mix concrete plant for automated concrete production equipped with sensors and AI-based software solutions. This smart plant will be evergreen as Giatec continues to build its technology solutions and as a Centre of Excellence for the start-up companies and universities active in the concrete/construction ecosystem. The adoption of the SmartMix digital platform by concrete producers will help achieve the net-zero concrete vision by 2050. "Securing the SIF funding is a significant step forward for Giatec as we embark on our three-year, $65.8 million R&D project to build the world's first AI-enabled digital platform for the concrete industry," said Pouria Ghods, Giatec CEO and co-founder. "This groundbreaking platform will deliver tremendous value to various stakeholders across the industry from cement, aggregate, and admixture producers to ready-mix suppliers, construction companies, and infrastructure owners. Our vision is to revolutionize the concrete industry and help build more sustainable, efficient, and durable infrastructure while positioning Canada as a global leader in clean, innovative technologies." Managed by Innovation, Science and Economic Development Canada (ISED), SIF provides major investments to innovative projects across Canada, helping boost the country's economy. Securing this investment is a solid recognition of Giatec's ongoing contributions to the global construction industry and its potential to significantly impact Canada's low-carbon economy. The funding was awarded based on the project's potential to contribute to Canada's sustainability goals, particularly the construction sector, which is responsible for a considerable portion of global CO emissions. By optimizing concrete mixes and reducing cement usage, Giatec's SmartMix digital platform will also lower energy consumption and water usage, key factors in cement production. Additionally, the platform's predictive capabilities will improve concrete durability, reduce material waste, and extend the lifespan of infrastructure. The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, says, "Our government is committed to a net-zero future for Canada, and this project is precisely the investment we need. By leveraging technological innovation to reduce greenhouse gas emissions and improving building material quality, we can drive efficiencies that lower construction costs, making projects more affordable and profitable for our construction industry. It is a win for our planet, our infrastructure, and our industry." In collaboration with Giatec's AI Council, made up of leading global concrete producers, Giatec will continue to refine its AI algorithms and sensor technology. This government-backed initiative underscores Giatec's commitment to revolutionizing the concrete industry by driving sustainable innovation. With this support, Giatec is set to accelerate the deployment of its game-changing technology, helping to create new high-value jobs and build a more sustainable future for Canada and the world.

Government of Canada invests in Giatec® Scientific Inc. and its AI-driven concrete demonstration plant

This investment in Giatec Scientific Inc. will create an estimated 160 well-paying jobs and help reduce the Canadian carbon footprint for concrete OTTAWA, ON, Oct. 8, 2024 /CNW/ - The federal government is committed to a carbon-neutral future and has set the ambitious target of achieving a net-zero economy by 2050 while creating good-paying jobs. As part of that commitment, we are supporting the transition to clean technology innovations that will help Canadian businesses reduce carbon emissions and lessen their impact on the environment. Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, is pleased to announce a $17.5 million investment in Giatec Scientific Inc. This investment will support the company's $65.8 million project to develop sensor technologies using artificial intelligence (AI) to optimize concrete mixtures, resulting in a reduced carbon footprint, while improving the quality of building materials used for Canadian infrastructure. With this investment, Giatec Scientific Inc. will develop a smart concrete demonstration plant, which will operate using its new SmartMix™ technological innovation, for companies and universities to advance innovation in the construction ecosystem. This plant will be based in Ottawa is estimated to create 160 good-paying jobs. Canada is a global leader in tackling climate change, and this announcement will not only help Giatec Scientific Inc. lower its own greenhouse gas emissions but also provide an opportunity for all industry stakeholders in Canada to do the same. Quotes "Our government is committed to a net-zero future for Canada, and this project is precisely the investment we need. By leveraging technological innovation to reduce greenhouse gas emissions and improving building materials quality, we can drive efficiencies that lower construction costs, making projects more affordable and profitable for our construction industry. It is a win for our planet, our infrastructure and our industry." - The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry "Securing the Strategic Innovation Fund funding is a significant step forward for Giatec as we embark on our three-year, $65.8 million research and development project to build the world's first AI-enabled digital platform for the concrete industry. This groundbreaking platform will deliver tremendous value to various stakeholders across the industry, including cement, aggregate and admixture producers, ready-mix suppliers, construction companies and infrastructure owners. Our vision is to revolutionize the concrete industry and help build more sustainable, efficient and durable infrastructure, while positioning Canada as a global leader in clean, innovative technologies." - Pouria Ghods, CEO and Co-founder of Giatec Scientific Inc. Quick facts The Strategic Innovation Fund (SIF) provides major investments in innovative projects that will help grow Canada's economy for the benefit of all Canadians. SIF covers all sectors of the economy and is available to for-profit and not-for-profit organizations, with the goal of supporting the Canadian innovation network.Giatec Scientific Inc. was founded in 2011 with a mission to bring disruptive, knowledge-based and sustainable technologies to the concrete industry. Its products allow concrete producers, contractors and business owners to increase the profitability of their projects by improving efficiencies, while reducing the environmental impact of the concrete industry.SmartMix™ platform is an innovation that will allow Giatec Scientific Inc. to design cost-optimized concrete mixes. The project will lead to the development, deployment and commercialization of sensory/software technologies that can be used to monitor concrete throughout its life cycle, from variabilities in raw material to in-transit properties to characteristics of the completed concrete over its lifetime.The technology developed through this project will contribute to reducing the greenhouse gas emissions of concrete manufacturing by up to 20% by optimizing concrete mixtures to use less cement.Through the Roadmap to Net-Zero Carbon Concrete by 2050, the Government of Canada, in partnership with the Canadian cement and concrete industry, has charted the course to a net-zero carbon cement and concrete industry by 2050, committing to reduce more than 15 megatonnes (Mt) of greenhouse gas emissions cumulatively by 2030, and more than 4 Mt annually thereafter. Associated links Strategic Innovation FundGiatec Scientific Inc. Stay connected Find more services and information on the Innovation, Science and Economic Development Canada website. Follow Innovation, Science and Economic Development Canada on social media. X (Twitter): @ISED_CA | Facebook: Canadian Innovation | Instagram: @cdninnovation | LinkedIn: Innovation, Science and Economic Development Canada SOURCE Innovation, Science and Economic Development Canada View original content: http://www.newswire.ca/en/releases/archive/October2024/08/c0521.html Market News and Data brought to you by Benzinga APIs