Manufacturing AUTOMATION

Exxel Polymers receives nearly $2.9M in government support to expand operations

June 6, 2024
By Manufacturing AUTOMATION

Exxel Polymers, located in Bromont in the Estrie region, is receiving $2,895,150 from the governments of Canada and Québec. The funds will enable the business to acquire equipment to increase its productivity and production capacity to sustain its growth.

The aim of this investment project, valued at over $4 million, is to enable Exxel Polymers, a business specializing in the formulation and production of 100 percent recycled plastics, to meet the demand and pursue its growth and efforts to export.

As part of this project, the Government of Canada is providing a repayable contribution of $1 million under CED’s Regional Economic Growth through Innovation program. For its part, the Government of Quebec is granting a loan of $1,440,000 under the ESSOR program, administered by Investissement Québec (IQ) as the government’s representative, as well as a loan of $455,150 from IQ’s own capital funds.

“We are proud to count on the support of Investissement Québec and Canada Economic Development for Quebec Regions to implement our project. Thanks to this crucial investment, we are at the point of doubling our production capacity and setting out to conquer new markets, thereby strengthening our position as an industry leader. In concrete terms, IQ and CED are helping Exxel Polymers as it turns plastic waste into valuable resources, while also reducing the carbon emissions associated with the production of new plastics. We are combining economic development with sustainable development,” said Hans Fortin, general manager of Exxel Polymers.

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