ANNOUNCED AS TEMPORARYNo
On February 16, 2017 Minister of Innovation, Science and Economic Development Navdeep Bains, announced funding totalling Can.$18.2 million (U.S.$14.1 million) for two firms that have developed innovations that have the potential to make cars lighter, more fuel efficient and better performing due to a longer battery life. Astrex Inc. will receive a repayable contribution of up to $17 million from the Federal Economic Development Agency’s (FedDev Ontario) Advanced Manufacturing Fund. The investment will enable Astrex, a manufacturer of auto parts, to establish a facility that produces lightweight, high-strength aluminum components.
Another $1.2 million in a non-repayable contribution will go to GBatteries Energy Canada Inc. of Ottawa. The funding from Sustainable Development Technology Canada’s SD Tech Fund, which funds clean-technology projects, will allow the company to develop longer lasting batteries for electric cars. The battery system would also recharge much more quickly than existing ones.
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