CNEA Supports Economic Development in Eastern Manitoba Through $80,000 Donation to North Forge East Incorporated

PINAWA, Manitoba, March 30, 2021 (GLOBE NEWSWIRE) -- Canadian National Energy Alliance (CNEA), a consortium of leading nuclear engineering and management firms that operates Canadian Nuclear Laboratories (CNL), is pleased to announce that it has donated $80,000 to North Forge East (NFE) to support economic development in Pinawa, Manitoba, which is home to Atomic Energy of Canada Limited's (AECL) Whiteshell Laboratories, operated by CNL. The donation marks the fifth year in a row that CNEA has provided funding to NFE, an economic development agency that encourages entrepreneurs, business innovation, and commercialization in Eastern Manitoba.

According to NFE, the funding will be used to support ongoing operational costs and to continue to help stimulate the local economy in Eastern Manitoba by supporting local entrepreneurs working to establish and grow sustainable businesses. In total, CNEA has donated $400,000 to NFE over the past five years to help support entrepreneurial initiatives in the region.

"With the decommissioning of the Whiteshell Laboratories site scheduled for completion in 2027, CNEA recognizes that we have an opportunity to help ensure that the future of the Eastern Manitoba economy is bright," commented Jack Craig, Chairperson of the CNEA Board of Directors. "We also understand that the COVID-19 pandemic has led to unprecedented challenges for businesses across Canada. Against this backdrop, it is our hope that this much-needed funding can be put to good use in Pinawa and surrounding communities by NFE, which offers a number of important economic development services to local residents and businesses."

To date, North Forge East has worked with over 40 companies in eastern Manitoba and established many meaningful national and international partnerships to build a strong business and innovation ecosystem in Pinawa, the region and the province. NFE is currently working on developing a strategy to attract world-class tech and innovation companies to Manitoba, offering assistance to qualified, overseas businesses interested in setting up a Canadian subsidiary and expanding their businesses to access North American markets.

"North Forge East is the only non-profit, innovation-based, regional business incubator and accelerator in Eastern Manitoba, with a mission to develop a strong entrepreneurship and innovation-based economy for Pinawa and Manitoba," commented Shane Li, President of North Forge East. "We will continue to strive to provide the best support for entrepreneurs, building and growing a globally competitive ecosystem that nurtures economic success in our province."

North Forge East was recently appointed as a Federal Designated Entity in the Start Up Visa program and is privileged to be a member of the National Angel Capital Organization (NACO) in good standing. As Canada's only national platform for both angel investors and innovation hubs, North Forge's network includes 4,200 angel investors, 44 angel groups and 45 of Canada's most prominent incubators and accelerators. NFE has also partnered with the Province of Manitoba Department of Advanced Education, Skills and Immigration - Manitoba Provincial Nominee Program to launch the International Entrepreneurship Program, the first of its kind in Manitoba.

"Initiatives like the International Entrepreneurship Program are a testament to the success of our province's economic development and talent development strategy," commented Wayne Ewasko, Minister of Advanced Education, Skills, and Immigration. "Economic development requires a collaborative approach, and this partnership offers a way to further place Manitoba on the map as an international destination to live and work."

"It's no secret that Pinawa is an entrepreneurial community. For decades, our community has attracted some of the best and brightest minds to live and work here," commented Blair Skinner, Mayor of Pinawa. "The International Entrepreneurship Program continues this tradition and will play a key role in our community's long-term economic growth."

Despite the many challenges caused by the pandemic in 2020, NFE continues to support and guide entrepreneurs in the growth, digital transformation and trade of their products and services. Among the assistance currently available to local communities, NFE delivers mentorship, networking and workshops, grant assistance, market intelligence and rapid prototyping, all of which is led by experienced mentors and subject matter experts. Past funding from CNEA has been used by NFE to deliver these services to residents in Pinawa and neighbouring municipalities.

"This has obviously been a difficult year for the Canadian economy, and those impacts have also been felt by the small business community here in Pinawa," commented John Gilbert, Site Head of the Whiteshell Closure Project. "With those challenges in mind, it's very encouraging to see CNEA step forward to help support economic development in Pinawa, and to see North Forge continue to bring these much-needed services to the local communities. We truly appreciate the support."

Many of NFE's current clients have successfully started up businesses and some are implementing accelerated expansion plans, despite the COVID-19 pandemic's impact on the business environment. In addition, three new businesses from elsewhere in Manitoba are moving to Pinawa in 2021 to start new businesses. CNEA's funding is being used to support this economic growth in Pinawa, resulting in new job creation by these new and expanding businesses.

If you'd like to learn more about North Forge East, please visit www.northforgeeast.ca. For more information on CNEA, please visit www.cnea.co.

About CNEA
The Canadian National Energy Alliance (CNEA) brings together the proven leadership and management approaches from SNC-Lavalin, Jacobs, and Fluor ? the world's leading engineering and technology companies. CNEA was formed to respond to the Government of Canada's procurement for the management and operation of Atomic Energy of Canada Limited's (AECL) nuclear laboratories. The procurement addresses three key objectives for the Government of Canada, including the management of Canada's radioactive waste and decommissioning responsibilities, ensuring that Canada's world-class nuclear science and technology capabilities and knowledge continue to support the federal government in its nuclear roles and responsibilities, and providing industry with access to nuclear science and technology expertise. CNEA was formed to safely transform Canadian Nuclear Laboratories and secure Canada's role in the global nuclear marketplace.

Media Contacts:

Canadian National Energy Alliance
Lou Riccoboni, Vice President
613-723-8700
[email protected]