Government of Canada Invests Over C$4 Million to Support Electric Vehicle and Clean Technology
Source：canada.ca
From：Taiwan Trade Center, Toronto
Update Time：2023/01/04
Two Ottawa-based tech companies: BluWave-ai Inc. and Tehama Inc received a $4.4 million investment from the Federal Economic Development Agency of Southern Ontario (FedDev Ontario). Collectively, FedDev Ontario is providing BluWave-ai with $1.7 million and Tehama with $2.7 million in repayable contributions. The funding is expected to add 85 jobs between the two companies, and the government hopes it will leverage another $12.6 million in private sector support.
Established in 2017, BluWave-ai is a cleantech company that uses AI (artificial intelligence) ‘s Fleet Orchestrator to offer EV fleet charging and dispatch management; integration of solar generation and battery energy storage; and management of mixed fleets. The funds are meant to help BluWav-ai build and commercialize software products to manage electric vehicle (EV) fleet operations, which the startup claims will reduce energy consumption and the number of carbon-emitting vehicles on the roads.
Founded in 2019 as a spin-off from Ottawa-based Pythian, Tehama was created out of a need to improve the software available to connect a remote workforce Desktop-as-a-Service (DaaS) and protect SMEs (small to medium-sized enterprises) and large enterprises information from the threat of security breaches. It is seeking to integrate new technologies and expand its cybersecurity platform and obtained a repayable contribution of C$2.7 million.
Filomena Tassi, the federal minister responsible for FedDev Ontario, said helping companies innovate to create high-quality jobs is a continuing priority for the federal government.
“Investments like these ensure that tech hubs like Ottawa continue to attract new investments and contribute to a growing economy,” Tassi said. The creation of new jobs is particularly important as waves of layoffs are sweeping through the technology sector, impacting everything from startups such as Ada, Thoughtwire, and Fineao, to publicly-traded tech companies like Shopify, Amazon, Meta, and Twitter.
FedDev Ontario has been actively funding numerous companies in recent months. The agency announced $7.5 million for three Kitchener-Waterloo companies in October, providing Shinydocs with $4 million, Encircle with $2.1 million, and Proto Research with $1.4 million.
Source: https://www.canada.ca/en/economic-development-southern-ontario/news/2022/11/government-of-canada-supports-electric-vehicle-and-clean-technology-that-will-lead-to-economic-growth-and-job-creation-in-the-ottawa-region.html