Ottawa, CANADA – As part of its Strategic Innovation Fund (SIF), the Government of Canada has recently announced a number of new investments in innovative projects that will help grow the country’s expertise in key emerging technology sectors and in industrial research and development (R&D) and commercialization.
The Strategic Innovation Fund (SIF) is designed to encourage businesses to invest in activities that lead to technology transfer and commercialization of new products, processes and services, accelerate the growth and expansion of innovative businesses in Canada and advance networks of collaboration between the private sector, research institutions and non-profit organizations.
Since May 2023, SIF has announced several new projects:
- $644 million for the construction of a new battery materials production plant to be built by a consortium formed by the Ford Motor Company and South Korea’s EcoProBM and SK On.
- $10 million for General Dynamics to undertake mission system integration, testing and demonstration on the LX300 helicopter, a disruptive Canadian-made RPAS (Remotely Piloted Aircraft System) produced by Quebec-based Laflamme Aero.
- $15 million for British Columbia’s AVL Fuel Cell Canada Inc. to support a portfolio of innovative hydrogen fuel cell technologies and world-class engineering solutions for customers in the global transportation sector.
- Up to $35 million to develop initiatives focused on the production, advancement and distribution of medical isotopes and radiopharmaceuticals in Canada.
- $350 million to support Canada’s new Initiative for Sustainable Aviation Technology (INSAT) aimed at accelerating the green industrial transformation of the aerospace industry.
- $49 million in Ross Video Limited to support the company’s $236 million project to create a hybrid cloud event-production platform and suite of tools to transform live-event production.
- Up to $86 million to enable Braya Renewable Fuels to commercialize its production of renewable diesel and sustainable aviation fuel in its Come By Chance refinery in Newfoundland and Labrador.
- $600 million for a cathode active materials (CAM) facility built by a joint venture between General Motors (GM) and POSCO Future M in Bécancour, Quebec.
- $225 million to support AbCellera’s $701 million project to create a state-of-the-art biotech campus equipped with a new preclinical antibody development facility in British Columbia.
As Canada’s government to government contracting agency, CCC supports initiatives that enable Canadian businesses to develop, commercialize, and deliver new innovative technology and expertise. These recent investments by the Strategic Investment Fund offer the support to get more commercialized products and services to market for the health, aerospace, defence, critical minerals and cleantech needs of the U.S. Department of Defense (DoD) and other governments around the world.
CCC is seeking out new innovative Canadian businesses with solutions of interest to foreign governments in like-minded nations. To learn more about how CCC connects innovative Canadian businesses with governments buyers around the world, contact us.
The Canadian Commercial Corporation (CCC) is Canada’s government to government (G2G) contracting agency. We help build successful commercial relationships between Canadian businesses and governments around the world through our government to government contracting approach. We are also the Government of Canada’s designated contracting authority for U.S. DoD procurement from Canada. To learn more about how we have facilitated billions in trade between Canadian businesses and governments around the world, visit www.ccc.ca/en/.