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Terepac Corporation


Location: Waterloo, ON

Sector: Technology


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Terepac Corporation is an Internet of Things (IoT) solutions company based in Waterloo, Ontario, Canada. Terepac offers proprietary end-to-end IoT solutions for companies that want to join the IoT to optimize their operations and realize the true value of sensing electronics.

Business Documents

MG cp Summary
  • Our People – Seasoned technology professionals with experience backgrounds from companies such as RIM (BlackBerry), Hewlitt-Packard, Nanosolar and more – see bio section for details
  • Our Technology – Hardware, secure software platform and future electronics packaging processes
  • Our IP – Valuable patent portfolio and pipeline
  • Market Size and Timing – Terepac is poised to be a leader in the IoT which is forecasted to be a $19 Trillion market by 2020

Terepac Corporation is an Internet of Things (IoT) solutions company based in Waterloo, Ontario, Canada. Terepac offers proprietary end-to-end IoT solutions for companies that want to join the IoT to optimize their operations and realize the true value of sensing electronics.

Ric Asselstine, Cofounder and CEO – Co-founded Terepac following a career of 25 years in corporate and entrepreneurial management. Formed Employee Staff Leasing, Inc., Canada’s first employee-leasing firm; this evolved into a consulting practice supporting primarily early-stage technology companies. Co-founded Practical Approach, a natural-language-based Internet search engine company, and served as president of Spectrim Label & Equipment Ltd. He holds an MBA from the University of Windsor, and a BBA from Wilfrid Laurier University

Dr. Jayna Sheats, Cofounder and CTO – Co-founder of Terepac, has worked in industrial R&D and technical business development for nearly 30 years, most recently as VP of Manufacturing Technology and Associate CTO at Nanosolar, Inc. Spent nineteen years with Hewlett-Packard Laboratories working on microlithography, superconductivity, and organic electroluminescence, as well as sustainability enhancing technology and business cases for the developing world. She has contributed to over 55 journal articles and over 50 patents. Jayna is a fellow of the AAAS, and holds a PhD in Physical Chemistry from Stanford University and BS degrees in Chemistry and Physical Sciences from Colorado State University.

David Biesty, VP Manufacturing Technologies – Responsible for operations management and equipment design and construction at Terepac, building on more than 25 years in innovative system design, construction and delivery. Served as Managing Director of Church Hill UK Ltd, establishing customers throughout Europe, Africa and North America. He holds an HND degree in mechanical engineering from Wolverhampton University (UK).

Jay Bahar, VP Sales and Business Development – 15 years of experience in launching new technologies into untapped markets, building effective go-to-market strategies, and structuring dynamic sales organizations for high growth situations. Was a member of Research in Motion’s launch team for the BlackBerry where he played key roles in every stage of the growth of this product, including making the BlackBerry a leading solution for a major U.S. carrier. Jay directed a $100M+ business unit comprising many distribution partners which remain among RIM’s largest.. Holds a BSc in Physical Sciences from the University of Guelph.

Chris McClenaghan, CFO – Responsible for all aspects of finance including global financial strategy, tax, human resources and internal control functions for the company. He spent 6 years at Deloitte, specializing in technology, media, and telecommunications industries, after which he held finance management position at Navtech Inc and executive position at Tsavo Media. Chris has CA and CPA certifications, and holds a BA in Economics and Accounting from Wilfrid Laurier University.

Harry Major, VP Software and Platform Development – Harry has 25 years of experience building world class and high performance software development teams. He built the software development team that delivered the BlackBerry Handheld Platform from a team of 8 in 1999 to a global organization of 550 including software development, test, project and program management functions. He wrote the first UI Engine on the first BlackBerry, shipped versions 3.0 to 6.0 of the BlackBerry Handheld Platform and Software Portfolio, and is named on over 60 patents. He has experience integrating acquired software development teams from various and diverse cultures and locations into a single cohesive and high performing team. Harry holds an Honours BMath in Computer Science from the University of Waterloo.

Fraser McNaught, VP IoT Marketing and Media Solutions – Fraser has been excelling in Advertising and Marketing for over 15 years with experience on both agency and client sides of the business. Fraser’s area of excellence is digital marketing although he has worked on every facet of traditional advertising as well including TV, radio, outdoor and direct mail. During his time as VP of Digital at Euro RSCG Toronto (Havas) Fraser had the opportunity to work with some of the world’s largest brands including Intel, HP, Dell, Microsoft, Reckitt Benckiser, Schering Plough/Merck, Novartis, Kraft, Evian and National Bank/Altamira. As a part of one of the world’s top global luxury branding agencies Fraser was able to touch brands such as Jaguar, Volvo, Louis Vuitton (LVMH), Chivas and Air France. Fraser likes to spend his time on the leading edge of digital discovering new and innovative ways to interact and engage with consumers.