A Hamilton-based company that produces modular buildings for the healthcare sector has received a $3.5-million investment from the federal government to increase production and create 50 new jobs.
Fero International Inc., a woman-led manufacturer of cost-effective and rapidly deployable modular solutions, announced the funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) on Friday (Feb. 2, 2024).
The company said the investment will help it grow its in-house manufacturing capabilities and meet the growing demand for its modular infrastructure, which can be used as labs, clinics, operating rooms, long-term care centres, and housing for healthcare workers and patients.
Fero’s modular buildings are designed to provide quick and sustainable alternatives to traditional brick-and-mortar medical infrastructure, reducing delivery times and supporting vulnerable populations in Canada and abroad.
The company said its products are aligned with many of the United Nations’ Sustainable Development Goals and can help address the challenges of climate change, pandemics, and housing shortages.
The funding announcement was made by the Honourable Filomena Tassi, Minister responsible for FedDev Ontario, along with Chad Collins, MP for Hamilton East–Stoney Creek, and Lisa Hepfner, MP for Hamilton Mountain, at Fero’s facility in Stoney Creek.
Minister Tassi praised Fero as a “new Canadian innovator” that’s creating “affordable, made-in-Canada solutions to hospital capacity issues” and contributing to the economic growth of southern Ontario.
“Fero International is a prime example of how our government is supporting businesses that are creating skilled jobs and finding solutions to modern problems,” she said.
MP Collins said the investment is “important news for the Hamilton region” as it supports a local company that is creating “new spaces outside of traditional brick-and-mortar settings” and generating 50 “good jobs” in the area.
MP Hepfner said the funding will help position the Hamilton region as a “leader in the manufacturing industry” and provide “innovative solutions to support our healthcare sector.”
Sabrina Fiorellino, CEO of Fero International, thanked the government for investing in Fero and believing in its vision.
“The investment is giving Fero the ability to scale its business and operate in the largest modular manufacturing plant in Canada, where it develops cutting-edge modular infrastructure solutions,” she said.
“We look forward to working with the government to help them achieve their ambitious goals of finding fast and innovative solutions to varying infrastructure crises.”
Fero International was founded in 2020 and has received several awards and recognitions for its technology, including the 2023 “Most Innovative Technology of the Year” award from the Canadian Manufacturers and Exporters.
