From Newfoundland and Labrador to Iceland: Pedal & Shift builds a bridge for business and investment

Founded in 2023 in St. John’s, Newfoundland and Labrador, Pedal & Shift supports companies with partnerships, market entry strategies, and business development. 

The company focuses on sectors like energy, ocean technology, and clean tech, areas where Atlantic Canada is seeing strong growth and innovation.

“We provide business development and marketing support for companies that are growth and export-oriented,” says Managing Director and Founder, Ian Froude.

From the outset, the company was designed to operate internationally, connecting Atlantic Canada with European markets.

For Pedal & Shift, Iceland quickly emerged as a natural partner.

Both regions share similar ocean-based economies, small populations, and experience operating in remote and challenging environments.

“There are a lot of similarities in how we live and work around the ocean.” Ian notes.

This connection is also rooted in history, with ties dating back over a thousand years to early Norse exploration. Today, that relationship is evolving into collaboration in sectors like clean energy and ocean technology, supported by frameworks such as the Canada- European Free Trade Association (EFTA) Free Trade Agreement. 

For Pedal & Shift, international growth has been tied to its ongoing collaboration with Trade Commissioners.

Ian was first introduced to Trade Commissioners earlier in his career and continued working with them when he founded Pedal & Shift, making them a core part of the company’s international strategy from day one.

“I saw Trade Commissioners as a valuable asset to connect local and international companies,” he says.

Since then, Pedal & Shift has worked with Trade Commissioners across multiple regions, including Iceland, Denmark, Belgium, Spain, the Netherlands, and China, gaining access to market insights and introductions that would have been difficult to secure independently. 

That ongoing relationship has helped the company navigate new markets and build connections over time, laying the groundwork for opportunities like its expansion into Iceland.

Building on this long-standing relationship, Pedal & Shift’s engagement in Iceland was supported through coordinated efforts by our Trade Commissioners in both Canada and Reykjavik.

This work was centered around the company’s participation in Iceland Innovation Week. 

In Newfoundland and Labrador, Ian Murdoch and Allison Catmur, Trade Commissioners at the Regional Office in St. John’s, worked closely with Xavier Rodriguez, Trade Commissioner in Reykjavik, to prepare the company for the market and position it for meaningful engagement with Icelandic stakeholders.

Ahead of the visit, our Trade Commissioners provided guidance to help Pedal & Shift understand the Icelandic business environment, refine its approach, and identify priority organizations and opportunities. 

During Iceland Innovation Week, they supported Pedal & Shift’s participation in pitching sessions and networking events, and facilitated direct introductions to key Icelandic organizations, including Business Iceland.

Their support, complemented by engagement with the Icelandic Embassy in Ottawa, helped the company build relationships and identify concrete opportunities for collaboration.

Together, these efforts highlighted the strong alignment between Iceland’s innovation ecosystem and Atlantic Canada’s growing ocean and clean technology sectors, while helping move early conversations toward concrete business opportunities.

“These touchpoints led to where we are now,” says Ian. 

In parallel, Pedal & Shift’s work with Hefring Marine, an Icelandic ocean technology company, built on an existing relationship that was further developed with support from our Trade Commissioners.

The relationship began through Canada’s Ocean Supercluster, where an initial connection led to early discussions about bringing Icelandic ocean technologies into the Canadian market.

Hefring develops advanced onboard systems that use artificial intelligence and sensor data to improve vessel performance, safety, and efficiency.

With continued support from our Trade Commissioners and in-market connections in Iceland, that relationship evolved into a formal partnership as Hefring explored expansion into North America.

Today, Pedal & Shift represents Hefring in Canada, supporting its market entry through sales, project management, and long-term strategy, including navigating procurement pathways with organizations such as the Canadian Coast Guard, while also facilitating research collaborations with Canadian ocean technology companies.

These partnerships are already delivering tangible results for Pedal & Shift and Atlantic Canada.

Over the past year, the company has expanded its team, growing from a small founding team to a multidisciplinary group of employees and contractors, as demand for its expertise has grown.

“These opportunities have allowed for new and sustained employment across the team,” says Ian.

The company’s work is also contributing to broader economic benefits. By supporting international companies entering Canada, Pedal & Shift is helping drive foreign direct investment and job creation. 

In one example, a partnership between Canadian and European firms is exploring the development of precast concrete wind tower manufacturing capabilities in Newfoundland and Labrador, an initiative that could create between 150 and 250 local jobs.

For Pedal & Shift, exporting services has become just as impactful as exporting products.

“We’re bringing revenue into Canada through our European clients, just as if we were selling a product,” Ian notes.

Pedal & Shift’s work reflects a full-circle approach to trade.

With support from our Trade Commissioners, the company has expanded internationally and built the relationships needed to operate across borders. It is now applying that experience to support international companies investing in Canada.

Looking ahead, Pedal & Shift plans to deepen its presence in Iceland and continue expanding its partnerships across Europe.

For Ian, success in international business comes down to persistence. 

“Persistence and patience in combination pay off,” he says. “The first conversations build familiarity, then trust, and then you get into what you can do together.”

Looking to diversify your exports? We help Canadian companies of all sizes succeed in international markets through export advisory services, funding, accelerator programs, and tailored support at trade missions and events.

A solid diversification strategy can help you build long-term stability and global success. You can expand your client base and navigate challenges such as:

• unexpected changes in market access
• exchange-rate fluctuations
• shifts in foreign-government policies

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