18 June 2019
Exonetik to Invest more than $2M for the Construction of New Facilities in Sherbrooke
PRESS RELEASE – Located on the premises of the accelerator/incubator Espace-inc since 2015, Exonetik announced the acquisition of a property on Industriel Boulevard in Sherbrooke’s Regional Industrial Park to build a 14 000 sq.ft (1300 m2) building.
In addition, the acquisition of Mr. André L’Espérance’s adjacent land, whom the company wishes to thank, will eventually allow further expansion of the facilities without having to move, thereby facilitating the company’s growth.
In its expansion plan, Exonetik wishes to position itself as an international manufacturer of magnetorheological fluid actuators. Thanks to the solicitation work carried out through the programs Sherbrooke International from Sherbrooke Innopole, Exportation from the MEI, and CanExport, the company was able to create new partnerships in Europe and the United States. Already well established in Canada in various sectors, the high-tech company is creating a non-existent niche of innovative actuators in Sherbrooke, thus enhancing its international reputation as an innovative city.
“At the moment, we must decline or delay new development projects because of the insufficient human resources that cannot be hired from lack of space. Large customers are also patiently awaiting the construction of the factory to increase their orders for actuators. Because of this context, we need to relocate to more functional premises in order to increase our productivity level and thus accelerate our growth,” said Pascal Larose, CEO of the company.
To achieve its vision, the company must increase its production capacity by hiring additional labour to supplement its twenty current employees and by developing an assembly line.
Since the beginning of its relocation efforts, Exonetik has been counting on the support of Sherbrooke Innopole. For Nathalie Prince, Director of Business Services, Advanced Manufacturing key sector: “Exonetik is a young, highly innovative company that is set to revolutionize a promising sector, at the crossroads of man and machine. This is another fine example of harnessing technology developed at Université de Sherbrooke that is about to take off in the commercial world and create quality jobs.”
Construction of the building is scheduled to begin in the summer of 2019 with the goal of relocating there before the end of the year.
Exonetik designs, develops, and manufactures magnetorheological fluid actuators that make it possible to obtain functionalities that weren’t possible before and that will meet unmet market needs. Based on technology developed at the Université de Sherbrooke and over a decade of research and development, Exonetik’s patented mechatronic systems offer a unique combination of precision and power density with aerospace-level reliability, all at an affordable cost. Exonetik’s highly qualified team works with leaders in the sectors of aerospace, automotive, human performance, and robotics to redefine the physical interactions between humans and machines.
Sources: Exonetik and Sherbrooke Innopole
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