Tony Clement, Canada’s Minister of Industry, announced investments totaling over $500,000 to two Alberta-based firms associated with nanotechnology. From the news release on Marketwire [ETA Aug.18.10: there’s also this link to the item on Nanowerk],

The Honourable Tony Clement, Minister of Industry, today announced contributions of $285,268 to Sonoro Energy Limited and $257,000 to IntelligentNano Incorporated from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). The funding supports innovative research and development projects that will assist both firms in developing high-tech solutions for global markets.

“Our government is investing in science and technology to create good jobs, strengthen the economy and improve the quality of life of Canadians,” said Minister Clement. “This government is supporting Canadian firms that successfully develop and apply innovative technologies. Canada’s Economic Action Plan is bolstering scientific research and commercialization, while creating good jobs and economic growth.”

Edmonton boasts Canada’s largest and most technologically advanced nanotechnology research infrastructure, centred around the National Institute of Nanotechnology (NINT). NINT is a joint initiative between the National Research Council of Canada, the University of Alberta, and the Government of Alberta.

So there you have it, the follow up to yesterday’s news flash. If you’re curious about the two companies, Sonoro is using the money to,

[support] a project that will seek to accelerate the commercial upgrading of heavy oil into synthetic crude, by small and medium- sized producers in remote areas. As the technology is both scalable and repeatable, Sonoro is actively pursuing heavy oil resource opportunities, particularly in remote global regions where there is heavy oil that could benefit from low-cost upgrading technology. Sonoro Energy has developed and patented a proprietary sonic reactor technology platform that transfers sonic energy on an industrial scale to physical, chemical or biological processes.

IntelligentNano will apply its funds towards,

further development of the “Sonacell,” a device for amplifying and accelerating the growth of therapeutic stem cells. Stem cells have an ability to self-renew and the potential to replace diseased and damaged tissues in the body, without the risk of rejection and side effects. Adults have a very small number of such cells; IntelligentNano has developed the “Sonacell,” which will make it possible to harvest and grow a sufficient quantity of a patient’s own stem cells for use in medical therapies. The “Sonacell” opens the door to the possibility of treatments for diseases like diabetes, arthritis, Parkinson’s and spinal cord injuries.