As the debate over the value of 3D goes on, conversion company Gener8 Digital Media received a stamp of approval today, announcing a $1.5 million round of financing. Its proprietary technology turns 2D film into 3D in postproduction. Post conversion is a process some have said produces inferior results to shooting in native 3D. Here’s the release:

VANCOUVER – October 13, 2011 – Gener8 Digital Media Corp., a rapidly growing 3D production company, has raised $1.5M in private financing with investors Macquarie Private Wealth Inc., Haywood Securities Inc., Raymond James Ltd., and Leede Financial Markets. The funding will allow Gener8 to pursue new projects and will further development of the company’s proprietary 3D technology, which provides filmmakers with an entirely unique method for creating movies in stereoscopic 3D.

Gener8 is the only company that creates a true 3D world in post-production. After geometrically recreating a 2D scene in 3D, Gener8 projects the film onto the 3D world, giving filmmakers ultimate control to adjust, enhance, and refine all aspects of the viewing experience. A cost-effective, high quality alternative to native 3D filming, this proprietary process is unlike any other 3D production method available to Hollywood today.

Gener8 was founded in January by former Electronic Arts Canada and Radical Entertainment executives. “With our collective pedigree in film, 3D software, and video games, we approach 3D filmmaking in a unique way,” says Gener8′s CEO Rory Armes. “We’re excited to be working with investors who share our vision and look forward to their support and collaboration as Gener8 continues to grow.”

As a west coast company with roots in Vancouver’s celebrated technology sector, Gener8′s services are convenient for Hollywood filmmakers and in some cases provide the benefit of Canadian tax incentives. Recent projects include the critically acclaimed Harry Potter and the Deathly Hallows Part 2 and the animated short film Luna. Gener8′s current focus is the upcoming Ghost Rider: Spirit of Vengeance, for which they are handling the film’s 3D conversion in its entirety.