The Atlantic Canada Opportunities Agency has awarded a total of $11.3 million from the Atlantic Innovation Fund to five companies or organizations in Nova Scotia to finance the development and commercialization of new technology.

The loans are part of a total AIF award this year of $39.9 million, which is being channeled into projects that – including funding from other sources – are worth a total of $71.1 million.

“Our Government is committed to helping Atlantic Canada’s businesses to move innovative ideas from the lab to the marketplace,” said Defence Minister Peter MacKay in a statement announcing the funding. “Investments in innovation help build our country’s commercialization capacity and strengthen our economy by creating high quality jobs and generating economic wealth.”

Drug discovery company Chelation Partners Inc. of Halifax, received a loan of $2.8 million to fund the Phase I trials of its additive product that is designed to fight drug-resistant microbial populations, such as superbugs. The product is delivered with existing antibiotics, essentially depriving the micro-organism of iron to weaken it so that the antibiotic is more effective.

Healthcare IT company Medusa Medical Technologies Inc., also of Halifax, will receive $2.6 million to develop a new version of its Siren ePCR Suite, which allows paramedics to report data electronically to hospitals.  The new version, to be developed over the next two years, will offer more features and greater flexibility to paramedics.

Green Power Labs Inc., a Dartmouth cleantech company, received $2.4 million for a project that will use solar radiation monitoring and forecasting to help design more energy-efficient buildings. Specifically, the project will develop advanced control technology for building energy management for heating, ventilation, and cooling.

The AIF also awarded $1.6 million to the Capital District Health Authority to develop diagnostic and monitoring tools that will help to improve orthopaedic patient outcomes, and $2 million to General Dynamics Canada Ltd. to develop an enhanced maritime communications system. AIF awards are handed out annually and companies applying for the 2014 program must submit a letter of intent by August 14, 2013.