Bluedrop Performance Learning Inc. (TSX-V: BPLI) and its subsidiary,
Bluedrop Training & Simulation Inc. (“Bluedrop”), secured an investment
from Boeing to develop a next-generation Special Mission Aviator Ramp
Trainer (SMART) for the V-22 Osprey. The program was funded under the
Innovation, Science and Economic Development Canada (ISED), Investment
Framework Transaction program by Boeing. The program includes funding to
Bluedrop, engineering support from Boeing and a three-year commitment to
support the development and ongoing sales of the new product within the
Boeing global supply chain. This is the second Boeing investment in
Bluedrop—the first successful project was to develop a next-generation
Special Mission Aviator Ramp Trainer (SMART) for the CH-47 Chinook.
The development phase is expected to take between 12 and 18 months to
build a full-sized virtual reality ramp trainer with a high fidelity
immersive environment, and enhanced specific mission capabilities
including ramp operation, hoisting systems, gunnery systems and various
mission critical procedural training capabilities. The new SMART is
expected to interface to the Boeing’s cockpit training devices to allow
full interactive crew training and mission scenario training.
Bluedrop will develop the associated hardware and software from its
recently opened Training and Simulation production center located in
Halifax, Nova Scotia. The team of software and hardware engineers will
be headed by Jean-Claude Siew, Bluedrop’s vice president of Technology
and Simulation. “Boeing has again shown its full support of Canadian
businesses in the defence and aerospace domain,” said Jean-Claude Siew.
“We are grateful for the trust that Boeing has shown in a company like
Bluedrop to contribute to military special operations training that
requires latest simulation technology to achieve mission rehearsals and
collective training at a fraction of the current costs.”
“Boeing has consistently supported the Canadian aerospace industry
throughout its 100-year long partnership, contributing more than CAD$4
billion of economic benefit to Canada each year working with a strong
team of partners and suppliers,” said Roger Schallom, senior manager,
International Strategic Partnerships, Boeing Defense, Space & Security.
“To date, Boeing has completed more than CAD$11 billion in IRB and ITB
commitments, providing opportunities for innovation and technology
collaboration and export assistance for Canadian industry.”
This project was approved by ISED as an Investment Framework Transaction
as part of the Industrial Technological Benefits (ITB) Policy. The
program provides incentives for prime contractors to invest in research
and development as well as commercialization with an emphasis on export
opportunities. “This project is a great example of how our government’s
policy is motivating the development and growth of Canadian small and
medium businesses to spur innovation, boost economic growth and create
good jobs,” said the Honourable Navdeep Bains, Minister of Innovation,
Science and Economic Development Canada.
“I am extremely pleased with the long-term vision of this program and
the support we have received from both ISED and Boeing,” said Derrick
Rowe, Executive Chairman of Bluedrop. “The Boeing team has been
tremendous to work with on this program and our ongoing Chinook program.
This project will add the V-22 Osprey to our portfolio of crew training
devices and a whole new level of capabilities that will enhance our
existing products. Building these relationships and new markets takes
time and trust. The ISED Investment Framework Transaction program is
clearly working and is a powerful tool to encourage partnerships between
Canadian companies and OEMs such as Boeing.”
The project was officially announced jointly with Boeing today at the
Bluedrop booth at CANSEC, Ottawa.
About Bluedrop Training & Simulation Inc.
Bluedrop Training & Simulation designs and develops advanced training
systems and state-of-the-art simulation products to safely train
operators and maintainers of complex equipment. Our approach leverages
innovative technology to provide cost-effective blended-media training
content, from classroom instruction and computer-based training (CBT)
through to high-fidelity training devices. Bluedrop Training &
Simulation is a small to medium-sized enterprise (SME) providing a
strong value proposition offering 100% Canadian designed and developed
solutions.
For more information about Bluedrop Training & Simulation, visit www.bluedropts.com.
You can follow us on Twitter: @Bluedrop BPL.
About Bluedrop Performance Learning Inc.
Bluedrop Performance Learning Inc. (TSX-V: BPLI) is an innovator in both
the development of workplace e-learning and simulation as well as the
way large organizations deliver, track and manage training. Our two
divisions serve the world’s leading aerospace and defence organizations
as well as broad cross sections of organizations focused on managing
system wide health and safety and developing the skills of external
workforces. Bluedrop is creating the workforce of the future by
improving the effectiveness, speed and costs of training delivery and
management. For more information, visit www.bluedrop.com.
This news release may contain “forward-looking information” as
defined in applicable Canadian securities legislation. All statements,
other than statements of historical fact included in this release,
constitute forward-looking information that involve various risks and
uncertainties. Forward-looking information is based on a number of
factors and assumptions which have been used to develop such information
but which may prove to be incorrect, including, but not limited to,
assumptions in connection with the operational efficiencies associated
with the integration of technological and financial systems and general
economic and market conditions. There can be no assurance that such
information will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
forward-looking information.
Important factors that could cause actual results to differ
materially from Bluedrop’s expectations include general global economic
conditions. For additional information with respect to risk factors
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continuous disclosure materials filed from time to time with securities
regulators, including, but not limited to, Bluedrop’s Annual Information
Form and Management’s Discussion and Analysis of Results of Operations
and Financial Condition for the year ended September 30, 2018. The
forward-looking information contained in this release is made as of the
date of this release and Bluedrop does not undertake to update publicly
or revise the forward-looking information contained in this release,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws.
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