KITCHENER, Ontario, April 23, 2010 (GLOBE NEWSWIRE) -- A world-class technology innovator, P&P Optica of Kitchener, Ontario, stepped onto the world stage with the announcement of a Canadian government loan of $1.3 million CAD to support further development of its disruptive spectroscopy technology for the use in reagent-free blood analysis. According to P&P Optica's President and CEO, Olga Pawluczyk, "the potential for savings, in both time and money, to the health care sector are astounding."
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Today's announcement by Kitchener Centre Member of Canadian Parliament Stephen Woodworth was made possible under the Federal Economic Development Agency for Southern Ontario (FedDev), which is designed to position local companies to take advantage of global economic opportunities.
Federal, provincial and local officials were on hand at P&P Optica for the announcement which will allow the company to access new markets for its spectrometers and optical instrumentation.
"P&P Optica is a shining example of the innovation that is alive and thriving in Canada," said MP Woodworth. "I am proud to be a part of a government that recognizes this talent and supports it through programs such as the Community Adjustment Fund. Through this support, jobs will be created in Kitchener and this young company will be on the road to success."
Spectrometers are highly specialized devices used to measure the chemical composition of unknown substances. P&P Optica's spectrometers provide a more detailed and precise analysis in much smaller concentrations than any other optical spectrometer currently on the market. These instruments have a wide variety of biomedical and industrial applications.
"This loan will help P&P Optica to expand our global market reach and it has the potential to reduce routine blood analysis costs by up to 70%," said Pawluczyk.
According to Ontario's Kitchener Centre MPP, John Milloy, "P&P Optica is a wonderful example of the technological expertise available in Ontario."
P&P Optica Inc. was established in 1995. The company focuses on the delivery of exceptionally high performance spectrometers and dispersive Raman spectrometers as a platform technology. The P&P Optica team includes the technical father-daughter duo of Romuald and Olga Pawluczyk as well as world-class researchers, optical and mechanical designers and master craftspeople of opto-mechanical systems and high quality optical components.
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