INO delighted to see LeddarTech achieve a milestone in its growth

QUEBEC CITY, Feb. 5 /CNW Telbec/ - INO (Institut national d'optique) is especially proud to see tech firm LeddarTech mark a major milestone in its growth. Buoyed by the confidence the Canadian and Quebec governments placed in it from the very beginning and $6.5 million in venture capital granted today by its funding partners, the company spun off from INO in 2007 is better positioned than ever to introduce its unique and innovative technology to national and international markets.

"Today's announcement speaks volumes on the relevance of our activities and the key role INO plays in the development of promising technologies for Canadian businesses. Over the years, INO has built a reputation as a catalyst for innovation. We have performed almost 40 technology transfers and created 26 spinoff companies, all of which are still in business," stated INO president and CEO Jean-Yves Roy.

A key component of INO's mission is to support the development of Canadian businesses by harnessing the properties of light to create added value that will help them boost their productivity and competitive position on the international market.

"For over 20 years, our researchers have been developing technologies that enable companies like LeddarTech to improve peoples' quality of life. Above all, we help Canadian businesses strengthen their leadership, break into new markets, and ultimately create jobs and generate major economic benefits," said Mr. Roy .

The president and CEO took the opportunity to stress that as economic recovery takes hold, research and innovation are particularly key if Canadian companies are to distinguish themselves and prosper both nationally and internationally. "With government support, we intend to pursue our mission of commercializing scientific research with even greater enthusiasm and determination, to the greater benefit of Canadian businesses."

About INO

A leading technology designer and developer, INO is the largest center for industrial optics and photonics expertise in Canada . The leader in its field internationally, INO has so far completed over 4,000 custom R&D contracts for Quebec and Canadian companies working in a variety of fields. INO has performed 39 technology transfers that have resulted in the creation of 26 new high tech startups. It boasts more than 220 employees, most of them researchers, scientists, and technicians who contribute to INO's international reputation. In 2007 along with six other organizations, INO was recognized as a center of excellence in research and marketing by the Canadian government.

For more information, visit www.ino.ca

For further information: Stéphane Dion, NATIONAL Public Relations, [phone], ext. 235, Cell: [phone], [email protected]