Halifax, NS, Canada, May 29th, 2019 – –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
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 applicable to Bluedrop, reference should be made to Bluedrop’s 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.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Contacts
Bernie Beckett
Chief Financial Officer
Bluedrop Performance Learning Inc.
berniebeckett@bluedrop.com
Phone: 709-739-4938