Natural Products Canada (NPC) has announced its first investment in a Canadian start-up, FireRein Inc.
FireRein has created Eco-Gel™, an effective and non-toxic water additive that can “knock down” fires up to 55% faster while using up to 60% less water. Made from bio-renewable, food-grade ingredients, Eco-Gel™ is safe for the firefighter and the environment. The product was developed by a team of firefighters, scientists and business professionals, and early proof-of-concept work was done in collaboration with GreenCentre Canada, another member of the CECR network.
“We are thrilled to contribute to the acceleration of a company that is adding such an important natural product to the market,” says Shelley King, CEO, Natural Products Canada. “FireRein is a great example of the commercialization potential in Canada’s research and innovation centres.”
The NPC investment program is designed to inject capital into high-potential companies, while de-risking the investment of private investors. In this case, NPC’s investment was leveraged almost three-fold by a group of investors in Southeastern Ontario.
“The investment by NPC was a catalyst for our ability to secure interest and funding from angel and private investors,” says Rui Resendes, CEO, Fire Rein. “NPC’s endorsement, coupled with input and advice on the business strategy, was a tremendous asset in helping us raise sufficient capital to scale up production and increase sales.”
Connecting key expertise and resources is central to NPC’s strategy to help Canadian companies commercialize their natural products and technologies faster, cheaper, and more efficiently.
“Canada’s natural product sector is poised to benefit from the growing global demand for healthy and sustainable products,” says NPC Board Chair, Robert Orr. “NPC’s international connections, collaborative approach, and effective mix of advisory services and investment programming, are key tools to help Canadian companies compete on the world stage.”
FireRein is a Napanee, Ontario-based company dedicated to providing the firefighting community with effective, innovative and sustainable technology solutions. The company is underpinned by our experienced team that includes firefighters from various backgrounds in urban, rural, industrial and wildland firefighting. In response to the demands of today’s firefighting professionals, the company has created Eco-Gel™, the world’s first and only 100% bio-sourced and 100% food-grade water additive that when introduced into fire hose water streams creates a potent firefighting gel that “sticks and stays” on any surface and in any orientation. For more information, visit www.firerein.com.
Photo Credit: Garrett Elliott, LaunchLab