Paul Yeatman (BEng (TUNS)’92) leads one of two Dartmouth-based companies to receive money from the Canadian federal government.

Yeatman is president of GeoSpectrum, a leader in ocean research. The company received a $1.9 m loan to continue developing its technology.

GeoSpectrum reduces environmental impact during oil and gas exploration. Companies using this technology will be able to reach delicate and geographically challenging areas.

Yeatman says the funding couldn’t have come at a better time. He had been working on the project for years. However, obstacles like dropping oil prices have slowed progress.

“The project has been struggling, without funding it could have been shelved for a few years which could have been a death knell,” he told The Chronicle Herald.

Innovation, Science and Economic Development Minister Navdeep Bains made the funding announcement. He emphasized the importance of Yeatman’s work.

“By investing in projects like those announced today, we will help Canadian businesses grow, innovate and export so that they can create good quality jobs and generate wealth for Canadians.”

Read more in “Seismic shift: Dartmouth innovators receive $5M…” on thechronicleherald.ca.