The equity investment was announced today by Premier Bernard Lord, the New Brunswick Innovation Foundation Chairman Warren McKenzie and Ted Robak, President of FORCE/Robak Associates Ltd.

“In our Innovation Agenda and Prosperity Plan, we identified knowledge industries and value-added natural resources as two of the four priority clusters we need to support,” Lord said. “FORCE/Robak Associates is centered well within both clusters and has great potential to succeed and help our economy grow by developing products and services here at home for export to global markets. I wish them every success in the future.”

With an extensive network throughout the forest industry and a track record in international sales, the company is well-positioned to successfully market its newest optimization product, OperMAX.

“The Innovation Foundation is excited about the prospects of this innovative company. FORCE/Robak demonstrates the capabilities of our research community. Our investment will help FRA continue to grow,” McKenzie said. “We have world-class researchers, entrepreneurs and innovative companies in New Brunswick and by investing in them we are investing in a brighter future for us all.”

FORCE/Robak Associates will use the NBIF investment to continue to develop and market OperMAX.

“Our partnership with NBIF will enable us to successfully develop and market our leading-edge products and services,” Robak said. “The Innovation Foundation brings added value by not only injecting capital into our company, but also by providing us with valuable expertise and substantial networking opportunities.”

Robak, currently a Forest Operations Management professor at the University of New Brunswick with extensive experience initiating and managing forestry IT development, and Ragnar Oborn, the company’s Vice-President, Development, an experienced forest engineer, are the two principles in the company.

The New Brunswick Innovation Foundation, an independent corporation, contributes to building New Brunswick’s innovation capacity. The foundation supports targeted and leveraged investments in innovation, and in research and development in New Brunswick. Through its Enterprise Innovation Fund and Venture Capital Fund, the NBIF supports start-up and early stage innovative companies by providing access to venture capital, business expertise, support, and networking opportunities.

MEDIA CONTACT: Chisholm Pothier, Office of the Premier, 506-444-2286; John White, New Brunswick Innovation Foundation, 506-452-2884, http://www.nbif.ca; Ted Robak, FORCE/Robak Associates Ltd., 506-458-9676, http://www.fra.nb.ca.