Government, private investors and academia came together Tuesday to announce $220 million in funding for the Ocean Frontier Institute, a new research group led by Dalhousie University.

The OFI, which is a partnership between Dal, Memorial University of Newfoundland and the University of Prince Edward Island, promises to be one of the world's most significant ocean science research organizations. It will focus on the Northwest Atlantic and Canadian Arctic gateway.

A statement from Dalhousie said its other partners include: eight international groups, including four of the top five ocean institutes in the world; the Government of Canada's federal laboratories; the Royal Canadian Navy; the National Film Board of Canada; and national and international industry.

"I am simply thrilled to be a part of this initiative,” said businessman John Risley, who donated $25 million to the project. “I have every confidence the OFI can become an engine for regional economic growth and firmly establish us as global leaders in ocean science."

Scott Brison, President of the Treasury Board, said Tuesday the federal government would provide $94 million in funding through its Canada First Research Excellence Fund -- the largest grant in the history of the three partner universities.

OFI has also attracted $125 million in support from provincial governments and partners, including Risley’s donation.

The statement said OFI's research will focus on ocean and ecosystem change. It will deliver ocean data science and technology tools to policy-makers, scientists and industry and develop safe and sustainable solutions for ocean development.

The Northwest Atlantic is one of the few places on earth where ocean changes are happening first and happening fastest, making it an epicenter of international scientific interest, said the statement.

By working with organizations like the National Research Council's Ocean Technology Enterprise Centre and Memorial University's Marine Institute in St. John's, and the Centre for Ocean Ventures & Entrepreneurship in Halifax, OFI aims to become a hub for high-quality marine industries.

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