04/15/2016 10:48 EDT | Updated 04/16/2017 01:12 EDT

Waterloo, Ont., institute receives $50 million for research into theoretical physics

WATERLOO, Ont. — The federal government is allocating $50 million over five years to the Perimeter Institute in Waterloo, Ont.

Prime Minister Justin Trudeau made the announcement today during a visit to the institute, which is a leader in research into theoretical physics.

The money is part of a rollout of the 2016 budget.

Trudeau says the funding will help the centre continue its scientific research, training, and education outreach.

He says the institute is an example of Canada's stature in innovation and research.

The work researchers are doing, Trudeau says, will lead to the technological discoveries of tomorrow that will contribute in tangible ways to our understanding of the universe.

"This is an investment in our future," he said.

The Canadian Press