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RaceRocks signs ground breaking contract

with Project Resolve Inc.

 

Thursday 17th December 2015

 

Victoria BC – RaceRocks (RaceRocks 3D Inc), a Victoria based Education Technology (EdTech) Small Business (SMB) signed a ground breaking contract today with Project Resolve Inc. (PRI) to act as the tier-one training provider for the Royal Canadian Navy’s Resolve-Class Auxiliary Oiler Replenishment (AOR) Ship, MV Asterix, which is now under conversion at Chantier Davie Canada Inc (CDCI) in Quebec.

 

RaceRocks had previously signed a Letter Of Intent (LOI) with PRI in September 2015. The LOI allowed RaceRocks to commence its activities and collaborate with PRI on planning the training requirements until the Trudeau government awarded PRI its contract on 30 November 2015.

 

RaceRocks will now complete all activities required to deliver the requisite training systems for the Resolve Class AOR by the spring of 2017.  The work will be executed by an expert pan-Canadian team with RaceRocks as prime, as well as with sub-contractors in Nova Scotia, Ontario, and Quebec. Close collaboration with the RCN will ensure the AOR training seamlessly integrates within the DND Naval Training System.

 

A third party economic impact study completed by OMX of Toronto assesses the RaceRocks portion of the overall PRI project at $14 million direct and indirect impact over the life of the project. PRI and CDCI are facilitating the export of RaceRocks services and products through their global supply chain.

 

Quotes:

 

Shirley Bond, BC Minister of Jobs, Tourism and Skills Training and Responsible for Labour –

“RaceRocks’ contribution to this Royal Canadian Navy project as the tier-one training supplier is exciting news for B.C.’s marine industry and an opportunity to demonstrate its ability to design and deploy world-class training and simulation systems. B.C. is expecting almost one million job openings by 2024, and it is companies like RaceRocks that are helping to ensure B.C. has the skilled workforce for the jobs of the future.”

 

Amrik Virk, BC Minister of Technology, Innovation and Citizens’ Services –

“The partnership between Victoria’s RaceRocks, Project Resolve Inc and the Royal Canadian Navy is a perfect example of how technology companies can make a significant contribution to the local economy. In recognition of the fact that the tech sector supports the B.C. economy at its very foundation, we’re turbo-charging the growth of the sector through the recently announced $100 million BC Tech Fund.”

 

Spence Fraser, Project Resolve Inc CEO -

“We are delighted to have signed up RaceRocks today. They are an important part of our pan-Canadian supply chain…It’s important to note that we did an extensive survey of the naval training service providers situated here in Canada and we determined very quickly that RaceRocks and its exclusive Atlantic partner, Modest Tree of Halifax, not only provide the most cutting-edge naval training solutions available, but are able to do so at a fraction of the cost.”

 

Scott Dewis, RaceRocks CEO -

 “We have established exclusive partnerships, most importantly with Modest Tree of Halifax, that will help us showcase Future Naval Training Systems on the Resolve-Class AOR. This will be the first clean slate Canadian naval platform of the digital learning age, and there is an opportunity to push the envelope and lay the groundwork for future Canadian ships and exports. “

 

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