24 June 2010

Public money in inflatable shelter company now hits $4 million in four years

With a dose of $249,978 research money from the provincial government’s research and development corporation, Dynamic Air Shelters has now received about $4.0 million in public cash since 2006.

The federal government dropped $300,000 on the company on Monday.

That was on top of nearly $3.5 million the company had received between 2006 and earlier this week.  Most the cash has come within the past 18 months.

Here’s how the official news release described the most recent cash infusion:

Dynamic Air Shelters Limited is a world leader in inflatable blast shelters. Dynamic has the lead in this market and must maintain it by demonstrating constant improvement and validating the improvement through rigorous and controlled testing. The goal of this R&D project is to prove the performance of a production-model prototype of a fully upgraded blast shelter system that includes components and assemblies not yet tested. Expanding the blast resistant market and repelling competition is the most critically important feature of this product development. The RDC’s investment is $249,978 of a total project cost in excess of $1 million.

Dynamic Air Shelters received the largest single batch of funding in the most recent announcement.