"Marine Industrial Lighting Systems is an example of the innovative enterprises that comprise the province�s growing ocean technology cluster," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "This funding will help enable the company to access new markets in North America�s $100-million marine lighting industry, and ultimately spur new opportunities for the province."

Marine Industrial Lighting Systems employs 12 people who design and create new lighting products using off-the-shelf components sourced locally and abroad. It has created lights for fishing vessels capable of running-off alternating current or direct current electricity, which saves fishing boat owners money. It additionally modifies European lighting systems to meet North American regulations, and has recently provided submersible, explosion-proof flood lights to the Panama Canal Authority.

"This young company has shown entrepreneurship, creativity and business savvy," said the Honourable Dave Denine, MHA, Mount Pearl South. "I am pleased that the province has shown its support of this venture though its $25,000 investment."

"Since forming the company eight years ago we have developed products for the local and European markets," said Sid Cox, President and General Manager of Marine Industrial Lighting Systems. "We want to build on those successes by creating new products and access new markets, particularly in the area of government procurement."

Funding was provided through the Business and Market Development Program (BMDP). BMDP provides new entrepreneurs and expanding small businesses with matching funding to help them acquire the necessary expertise to pursue new business ideas and markets. The $1 million program is intended to support new growth opportunities in the economy, such as value-added manufacturing activities and export-oriented opportunities.

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