July 24, 2019 – PETERBOROUGH, ON

Peterborough-based Cambium Consulting & Engineering has received the top prize of the ignite100 competition, announced by Community Futures Peterborough (CFP) at its annual general meeting held this afternoon.

“We are overjoyed to learn of our success in the ignite100 competition,” says Cambium President and CEO John Desbiens. “Thank you to Community Futures Peterborough for the encouragement and belief in the concept.”

The ignite100 program allowed local businesses to compete for a $100,000 loan interest-free for the first three years with no payments for the first year. Cambium was awarded the grand prize, while the two finalists, Cottage Toys and Goodwin Metals Products, will work with CFP to obtain flexible financing options for their new business ventures.

“The ignite100 program was launched by our Board of Directors earlier this year to propel a local business idea that was innovative and able to create local, sustainable jobs in the region,” said CFP Board Chair Peter Gaffney. “We are thrilled to support Cambium on their business venture and congratulate all participants.”

Cambium’s business model includes the development of a system to broker the transfer of excess soil from one construction site to another. “The positive impact of this made-in-Peterborough initiative will be far reaching, further enhanced by guidance from our regional public and private development partners,” adds Desbiens.

More information on the ignite100 program can be found at ignite100.ca or through the CFP website at communityfuturespeterborough.ca

With support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Community Futures Peterborough’s mission is to generate and assist in creating and maintaining sustainable employment opportunities in the City and County of Peterborough by supporting small businesses through flexible financing and business services. CFP has invested $28 million in 700+ small businesses since 1985, leading to the creation or maintenance of more than 3,300 jobs in the City and County.

MEDIA CONTACT:

Gail Moorhouse

Executive Director, Community Futures Peterborough

Cell: 705 917-4245

John Desbiens

President and CEO, Cambium

Telephone: 705.742.7900