Neptune project awaits BC funding decision

Backers of the novel Neptune Project should know this month whether the British Columbia government will match the $31.9 million made last year by the Canada Foundation for Innovation (CF) (R$, July 8/02). The request for $30.5 million was made to the BC Knowledge Development Fund (BCKDF) and has been approved by the BC Treasury Board. A Cabinet decision is expected within days.

The joint Canada-US submarine research network along the Juan de Fuca tectonic plate will lay 3,600 km of optical cable for real-time transmission of data. The project holds considerable commercial potential for advances and the BC government wants to ensure that the project has socio-economic benefits. At the same time, it has indicated that it will not leave federal money on the table. The BCKDF has no fixed budget and is funded through debt financing.and amortization. Proposals are considered on a case-by-case basis.

R$