P&P Optica Named Recipient of Investment of Innovation Funding through the Federal Economic Development Agency

WATERLOO, Ontario, Oct. 11, 2012 /PRNewswire/ -- P&P Optica Inc., a world leader in the design, development and manufacturing of high performance optical spectrometers, has been granted a fund of $985,000 through the Federal Economic Development Agency's Investing in Business Innovation program. The Government of Canada investment was announced today at P&P Optica Inc. by Peter Braid, Member of Parliament for Kitchener-Waterloo, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The program aims to "accelerate the development of new products, processes and practices and bring them to market" while also enabling companies to attract new investments.

P&P Optica was recognized together with Avenir Medical, Axonify, Maluuba, and Sweet Tooth today at the Accelerator Centre located in Waterloo Region's Research and Technology Park. Olga Pawluczyk, P&P Optica's President and CEO spoke at today's ceremony and was quoted saying, "P&P Optica is thrilled to be a recipient of the FedDev IBI funding. It is government programs such as this one that enable start-up businesses like P&P Optica Inc. to launch our ideas and continue to be able to spark further innovation."

About P&P Optica

P&P Optica specializes in design, development and manufacturing of high performance spectroscopy systems. These compact modular systems are based on the company's high efficiency holographic gel transmission gratings and optimized optical design, which when combined enable a line of spectroscopy products that provide the highest efficiency and lowest distortion available in the market today. To find out more call us at 1-800-706-3811 or visit our website: www.ppo.ca.

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SOURCE P&P Optica