Opportunity Calgary Investment Fund selects ATTAbotics for funding
Funding helps local tech company scale operations in Calgary
Calgary, Alberta, Dec. 12, 2018 (GLOBE NEWSWIRE) — The Opportunity Calgary Investment Fund (“OCIF” or “the Fund”) announced today ATTAbotics Inc., a Calgary-based company in the robotics intralogistics sector, will receive up to $4.5 million to expand its operations in the city.
The OCIF funding will support the scaling up of ATTAbotics manufacturing facilities in Calgary that will support 150 new full-time positions at the company. Another 15 jobs will be created in construction of new production lines for the innovative product storage and retrieval systems.
The announcement took place at ATTAbotics’ offices in northeast Calgary with Calgary Mayor Naheed Nenshi; Barry Munro, Chair of the Board of Directors of the Opportunity Calgary Investment Fund; and Scott Gravelle, o-founder and CEO of ATTAbotics.
“ATTAbotics is exactly the kind of company we want to support with OCIF. It’s local, it’s disruptive, and it’s looking to grow right here in Calgary,” said Mayor Nenshi, who is a member of the OCIF Board. “Competition from other cities is intense, so it’s critical we have a tool like OCIF to help an innovative, game-changing company grow in its hometown.”
ATTAbotics designs and manufactures automated storage and retrieval systems to store, access and move warehoused goods with robotics. In the fast-evolving world of e-commerce, logistics are vitally important and ATTAbotics systems have the potential to disrupt the sector.
Transportation and Logistics is one of the key industrial sectors identified for growth in the Economic Strategy for Calgary.
“OCIF funding was critical in determining if we would be able to scale up our manufacturing in Calgary,” said Gravelle, who co-founded ATTAbotics in 2016. “ATTAbotics is an economic engine for e-commerce operations and we are proud the systems and technology we are exporting worldwide are developed in Calgary.”
OCIF funding will support construction of two production lines (or “nodes”) at a new facility in the YYC Global Logistics Park at Calgary International Airport. The first node will be in production in 2019, with the second in 2020. If its business development strategy proceeds as projected, ATTAbotics intends to build a new corporate headquarters and research campus at the site.
“This announcement by ATTAbotics is proof YYC is not just about planes and runways. We’re driving innovation by creating a campus business district where companies like ATTAbotics can help other traditional supply chain management companies innovate,” said Bob Sartor, President and CEO, The Calgary Airport Authority.
The Opportunity Calgary Investment Fund was launched by The City of Calgary in April 2018 to support investments within the city that spur growth and create jobs in strategic sectors.
“The scrutiny that goes into the project reviews on behalf of taxpayers is very thorough, thoughtful and rigorous and the opportunity to support ATTAbotics met all the criteria,” said Munro. “This is a chance to support local entrepreneurs making a significant investment in diversifying our economy doing what Calgary is known for – creating and producing systems and technology the world wants.”
The funding will be allocated in installments, upon ATTAbotics achieving a series of predetermined milestones.
Since its launch, OCIF has received more than 175 applications. In the review process, each submission is assessed against specific criteria:
- Economic benefits to Calgary in terms of investment, new revenue growth and property taxes.
- Alignment with key industries and sectors with the Economic Strategy for Calgary.
- Number and quality of jobs created for Calgarians.
- Impact on the innovation and sector ecosystems.
- Leveraged funding and alignment with strategic initiatives.
- Social benefits to the citizens of Calgary.
The next OCIF announcements are expected in early 2019.
About Opportunity Calgary Investment Fund
Opportunity Calgary Investment Fund was created as a wholly owned subsidiary of The City of Calgary in 2018 to support catalytic investments within the city that will help diversify and transform the economy. The Fund is administered by Calgary Economic Development and has a volunteer Board of Directors. For more information, visit our website at www.opportunitycalgary.com
CONTACT: Calgary Economic Development/ Opportunity Calgary Investment Fund 403-880-7040