Bioindustrial Innovation Canada Invests in FireRein
Bioindustrial Innovation Canada (BIC) has announced that it has made a COMM SCI investment in FireRein Inc, through BIC’s Sustainable Chemistry Alliance (SCA) investment fund, as part of an investment round that will allow FireRein to increase sales in the North American market.
FireRein has launched Eco-Gel, which, according to the company is the world’s first 100 percent bio-sourced and 100 percent food-grade fire suppression water additive, to address a known water additive dilemma. The company says that it is “poised to revolutionize” the fire suppression industry by saving lives and property with less environmental impact.
Bioindustrial Innovation Canada is excited about the opportunity to support FireRein’s commercialization activities through this investment. Their product provides enhanced fire suppression capability while addressing the toxicity issue with traditional products. This is a positive combination, said Sandy Marshall, Executive Director of BIC.
The investment provides operating capital for FireRein to commission the commercial-scale production of their proprietary Eco-Gel, expand their team, and will catalyze further private and public-sector funding as the company enters the next critical stage of growth.
We are pleased to be working with BIC. Their mission to enhance renewables content in the chemical and materials industries aligns with both our corporate mission and company values. The strong relationships that BIC has with world-class chemical and energy companies will greatly enhance our market development efforts within these sectors, stated Rui Resendes, CEO of FireRein.