The federal government will provide funding totalling $18.2 million to two Canadian companies that are involved in automotive innovation. The funds will “lead to products and services that are more energy efficient, emit lower carbon emissions and promote healthier communities,” says Navdeep Bains, Minister of Innovation, Science and Economic Development.
Astrex Inc. of Lakeshore, Ontario will receive a repayable contribution of up to $17 million from the Federal Economic Development Agency’s Advanced Manufacturing Fund, which will help the auto parts manufacturer to establish a facility to provide lightweight, high-strength aluminum components. The company plans to create 62 full time jobs this year and an additional 24 jobs in the next two years as a result of the funding.
GBatteries Energy Canada Inc, of Ottawa, Ontario will receive a non-repayable contribution of $1.2 million from Sustainable Development Technology Canada’s SD Tech Fund, which funds clean technology projects. The funding will allow the company to develop longer lasting and faster-charging batteries for electric cars.
“The investments will give middle-class Canadians working in the auto sector the opportunity to design and build the cars of the future,” says Bains. “In the process, they will develop the skills that prepare them for the jobs of the future. That’s how innovation leads to a better Canada.”
