Redline Communications Group Inc. announced this week the Ontariogovernment is lending the firm $10 million towards WiMAX research.
The Markham, Ont.-based wireless equipment manufacturer said theOntario Ministry of Economic Development has approved $10 million infinancing to “support the ongoing development” of broadband wirelessinfrastructure products, including those meeting the WiMAX standard.
Last year, Redline announced plans to sell assets after losing $6.2 million in the quarter ending Sept. 30 of last year.
The company lost about $2 million in the quarter ending March 31 and had $5.6 million in cash.
Redline’s WiMAX products were recently chosen by Hydro One,Ontario’s electrical power distributor, for its smart meter project,which is intended to allow the utility to monitor electrical usewithout physically checking meters.
