$18.2 M in fed funding for automotive innovation
- Published: February 16, 2017
Two Canadian companies will receive funding totalling $18.2 million to develop innovations that have the potential to make cars lighter, more fuel efficient and better performing.
Astrex Inc., Lakeshore, ON, will received a repayable contribution of up to $17 million from the Federal Economic Development Agency's (FedDev Ontario) Advanced Manufacturing Fund.
"At Astrex, we have created a facility at the leading edge of aluminum extrusion technology and with the support of the Government of Canada, we are proud to be able to create more manufacturing jobs in the Windsor area," says Mark Blackmore, general manager, Astrex Inc
The investment will enable Astrex, a manufacturer of auto parts, to establish a facility that produces lightweight, high-strength aluminum components. The parts manufactured at this plant will reduce fuel consumption and lower carbon emissions.
The company plans to create 62 new full-time jobs this year and an additional 24 jobs in the next two years as a result of the federal investment.
GBatteries Energy Canada Inc., Ottawa, ON, will receive $1.2 million in a non-repayble contribution to allow the company to develop longer lasting batteries for electric cars. The funding is from the Sustainable Development Technology Canada's SD Tech Fund, which funds clean technology projects.
"The electrification revolution is moving full speed ahead," says Tim Sherstyuk, CEO of GBatteries. "Electrical vehicles are on a path to replace conventional cars. Electronic consumer devices, from smartphones to wireless headphones are flooding the market. The need for these devices to charge faster, and use longer lasting batteries has never been higher, and GBatteries is at the forefront of providing the solution"