Stromcore will use federal support to adopt advanced manufacturing equipment and launch two new products. PHOTO courtesy Stromcore.
Stromcore, a Mississauga, Ont. manufacturer of lithium-ion batteries for forklifts, is receiving a $4.8 million investment from the federal government to help it adopt advanced manufacturing equipment and technology and launch two new energy-efficient products.
The two new energy-efficient products are the Turbo Bank, an advanced AI-powered charger with improved efficiency; and the Electric Cart, a zero-emission e-forklift developed in collaboration with Amazon to lift goods. These new products have a fast-charging capability and the ability to operate in colder environments, helping improve productivity, while greening operations.
Stromcore will scale its operations to meet the growing market demand for these innovations, create 18 new jobs and enhance its global competitiveness. This investment also supports the sustainable recycling of electric batteries as part of a circular economy. At the end of the life of a battery, Stromcore disassembles and salvages up to 99 percent of the battery components to minimize their potential negative environmental impact.
“Businesses in Ontario are leading the way in modernizing and developing new processes, technologies and products that will build a strong green economy. Our Government’s $4.8-million investment in Stromcore Energy Inc. underscores our commitment to helping businesses reach their potential as they move toward innovative green solutions and create good jobs across our province,” said Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario.
Two years ago Stromcore Energy was named one of Canada’s Clean Technology winners in Delooitte’s Technology Fast 50, program that recognizes Canada’s top clean innovators providing processes, goods or services that reduce environmental impacts.