Irving Shipbuilding, Founding Partner of COVE, Renews Funding

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Irving Shipbuilding, a founding investor (2017) in the development of the former Coast Guard property in Dartmouth to build a world-class ocean technology cluster that would become COVE.

Metadata
Provider: 
GlobeNewswire, Inc.GlobeNewswire, Inc.
Retrieved on: 
Wednesday, October 5, 2022
Information
Tags: 
Royal Canadian Navy, Revolution, Workforce, ISI, Coast guard, Canadian Coast Guard, Research, CSC, Investment, Halifax Shipyard, Technology, Center, AOPS, The Blue Economy, Industry, Health, Blue economy, CEO, GLOBE, Climate change, Walter Butler Shipbuilders Inc., Irving Shipbuilding, Solution, Shipbuilding, Renewable energy, Entrepreneurship, Arctic, COVE
Geotags: 
NOVA SCOTIA, CANADA
Summary
Key Points: 
  • Irving Shipbuilding, a founding investor (2017) in the development of the former Coast Guard property in Dartmouth to build a world-class ocean technology cluster that would become COVE.
  • Today, COVE remains one of the only purpose-built commercialization facilities in the world that is industry led and ocean industry focused.
  • I am pleased to announce that Irving Shipbuilding is renewing its funding for COVE for another 5 years.
  • COVE's founding partner is Irving Shipbuilding Inc. (ISI) under the National Shipbuilding Strategy Value Proposition.



HALIFAX, Nova Scotia, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Today, Irving Shipbuilding announced a $4.4 million investment in COVE (Centre for Ocean Ventures and Entrepreneurship) over the next five years. Irving Shipbuilding, a founding investor (2017) in the development of the former Coast Guard property in Dartmouth to build a world-class ocean technology cluster that would become COVE.

Under the National Shipbuilding Strategy Value Proposition obligation, Irving Shipbuilding is committed to investing 0.5% of contract value in research and initiatives to support a vibrant and sustainable marine industry in Canada.

COVE’s mission is focused on the commercialization of high-tech innovation for the sustainable use of the ocean. Today, COVE remains one of the only purpose-built commercialization facilities in the world that is industry led and ocean industry focused. Its vision is to be where ocean technology leaders develop solutions for a better and sustainable world, a key driver for enabling a strong Blue Economy in the following areas:

  • Developing Canada’s future workforce
  • Enabling development of new products and services through on and off water shared infrastructure
  • Scaling businesses and new ventures
  • Partnering with other global hubs to advance commercialization

“The reinvestment from Irving Shipbuilding into COVE highlights the value of the National Shipbuilding Strategy and its continued impact on strengthening Canada’s ocean economy. We will continue our work in building an innovative and driven workforce here and across Canada and to be the leading centre of excellence for enhancing technology and innovation for all sectors of the ocean economy.” Melanie Nadeau, CEO, COVE.

“I am pleased to announce that Irving Shipbuilding is renewing its funding for COVE for another 5 years. Along with our support to their Workforce initiatives that brings our total commitment of over $10M – all for the benefit of the broader marine sector. The Halifax Shipyard is building far more than just ships. We’re committed to the Blue Economy, Ocean Technology and Skills Development. COVE is a unique catalyst that has grown to over 70 emerging enterprises that are focused on innovative solutions to problems like climate change and the health of our oceans. We believe COVE will continue to pay dividends here at home in Nova Scotia and Canada.” Aaron Plamondon, Director Industrial Participation, Irving Shipbuilding.

About COVE:
The Centre for Ocean Ventures and Entrepreneurship (COVE) is a global innovation hub for marine technology located in Dartmouth, Canada. COVE brings together people, ideas, industry, and research to enable our community and members to work in new ways. As part of its programming, COVE fosters the development of an engaged workforce for ocean industries to meet todays and future needs and takes advantage of both on and offshore shared infrastructure to enable new ocean products and services. COVE is a catalyst in creating the world's next practical, commercial, and revolutionary ocean tech advances. COVE's founding partner is Irving Shipbuilding Inc. (ISI) under the National Shipbuilding Strategy Value Proposition. To learn more about COVE, visit www.coveocean.com.

About Irving Shipbuilding:
Irving Shipbuilding is Canada’s National Shipbuilder, selected in 2011 to build the new fleet of combat vessels to the Royal Canadian Navy. To date, three Arctic and Offshore Patrol ships (AOPS) have been delivered and a further three are underway. The company will also build two custom AOPS for the Canadian Coast Guard before commencing the larger Canadian Surface Combatant (CSC) Fleet. To date over $4.9 billion in investments have been made across Canada as part of the National Shipbuilding Strategy. A team of 2100 shipbuilders proudly based in Halifax, NS include the largest team of apprentices in Atlantic Canada. www.shipsforcanada.ca.

CONTACTS:

COVE
Leslie Munro
Communications Manager
Centre for Ocean Ventures & Entrepreneurship (COVE)
(902) 266-2685
[email protected]

Irving Shipbuilding:
Mary Keith
Vice President Communications
(506) 650-8209
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/66d4f531-33dc-481a-8ed5-ca86822cd592
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