This week's Insights Podcast is the first in our sponsored BioEconomy Series over the next three months in partnership with the Greenspring BioInnovation Hub and Bioindustrial Innovation Canada and features a conversation with JC Amado, Chief Development Officer with Vyterra Renewals and Cassie Turple, member of the third generation of family owners of Ledwidge Lumber about their interesting collaboration that will see the construction of a 40 million litre plant on Ledwidge's property using Vyterra's proprietary Rapid Thermal Processing (RTP) technology and the wood by products from Ledwidge's operations to convert wood into low carbon fuel. The plant will cost $200 million to build and is expected to be operational by the end of 2027 and will use the feedstock of 2-3 sawmills in the province, which lost a significant customer for their products with the closure of Northern Pulp. If successful, Vyterra's has hopes of building two other similar plants in the province.

Everyone who owns a vehicle has used a parking meter, whether an old-fashioned coin operated meter or the new electronic smart meters. It is highly unlikely that you have ever heard of MacKay Meters of New Glasgow, Nova Scotia, but there is a good chance that you have used one of their meters. MacKay is the only company manufacturing parking meters in Canada and has been in business for more than sixty years.

Parking meters have become increasingly sophisticated, and MacKay Meters has been among the most innovative companies in this space. The company was the first to introduce the use of credit card payment and has the best coin validation system in the industry. The modular design of their smart meters makes it easier to keep the meters current. The company has developed software support to manage and maintain their meters, including the management of time-of-day parking rates around special events. Indeed, there are some years where revenue from their hosted subscription services exceeds their hardware sales. MacKay just completed the world's largest parking project ever undertaken when it installed 13,000 of its smart meters and 3,000 of its pay stations in San Francisco. Since its inception, the company has installed over a million meters.

Our podcast with third generation CEO James MacKay provided an excellent overview of the secret to the company's success over such a long period of time and another reminder of the opportunities that exist for manufacturers in Atlantic Canada.

On this week’s Insights podcast, Don and David speak with Sébastien Dupuis, President & CEO of Assumption Life. The Moncton-based insurance provider has been around for over 100 years, and recently decided to become a national company. From its roots providing insurance services to Acadian households and businesses, Assumption Life is now a rapidly expanding national firm with considerably more clients outside New Brunswick. Sébastien talks about the company’s journey expanding across the country, the business environment for the insurance sector in New Brunswick, and he muses on the importance of ambition as a driver of business growth.