In a true mission accomplished fashion, GESI
had been awarded the grant in 2011 when it was a private company under Alberta Energy's Biorefining Commercialization and Market Development Program Grant Agreement, for a total cost of $355,000 (CAD), of which $177,000 was awarded by Alberta Energy.
CAE today announced that Germany's Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support (BINBw) has accepted as ready-for-training the latest generation CAE GESI command and staff training system.
The CAE GESI constructive simulation software is a sophisticated synthetic environment that allows commanders to train command and control procedures under realistic conditions.
The latest version of CAE GESI delivers a range of enhancements and improvements that enable the German Army to train commanders and their staffs in the whole range of actual missions they might be facing," said Ian Bell, CAE's Vice President and Business Leader, Military - Europe.
The acceptance as ready-for-training for the latest generation CAE GESI software is a major milestone of an ongoing product improvement program that will continue with the release of an enhanced version in mid-2014.
Through the partnership with InREFCo, GESI announced that they have entered into an agreement for the source and source of funding of the plant which will be an equity percentage funding of the project.
Jason Watson, President/CEO of InREFCo (International Renewable Energy Facilitation Company), informed listeners that the funding was definitely under terms favorable to GESI and its shareholders.
MacKay related that GESI was pleased it could keep delivering on its business plan of not relying on dilution of its stock to make the funding.