Virtual Marine Technology Secures Funding For Growth

Virtual Marine TechnologyVirtual Marine Technology started in 2005 as a student project at Memorial University in St. John’s, NF.  Since this time, it has gone through a number of changes, some previously covered by Techvibes, and is now ready for even more expansion.

With plans to further develop it’s business activities, Virtual Marine Technology has secured Provincial funding to the tune of $491,185.  Susan Sullivan, Newfoundland & Labrador’s Minister of Innovation, Trade and Rural Development is excited for the possibilities.  

“Globally, the volume of activity taking place on or beneath the ocean surface is expanding at an incredible rate.  With such activity, it is important for personnel to have access to technology where they can simulate marine environments in a safe and cost-effective environment.  The company has identified this requirement and is well-positioned to create awareness and ultimately sell its product to companies and organizations operating in the defence and oil and gas sectors, as well as others operating in marine environments.”

With over $1.5 million in funding from the provincial government thusfar, and the opening of a new satellite office in Victoria, BC, Virtual Marine Technology have proven to be a reliable investment with an exciting future ahead of them.

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