04:04 PM EDT, 06/26/2025 (MT Newswires) -- Edgewater Wireless Systems ( KPIFF ) on Thursday said it is receiving a federal grant of $921,000 from FABrIC, an initiative by Ottawa to commercialize advanced semiconductor and sensor solutions.

According to a company statement, the money will help speed the development of Edgewater's $2.4-million next-generation multi-link Wi-Fi silicon platform, which will serve "high-density, interference-sensitive wireless environments across residential, enterprise, and industrial IoT sectors".

"The FABrIC funding reinforces Canada's commitment to strengthening its position in the global technology landscape. For Edgewater, it means accelerating our product roadmap, creating jobs, delivering shareholder value, and contributing to Canada's economic resilience," chief executive Andrew Skafel said.

Edgewater shares closed unchanged at $0.055 on the TSX Venture Exchange.