Ottawa unveils $350M fund to support green tech in aerospace
The Canadian Press
General AerospaceInitiative for Sustainable Aviation Technology to back R&D projects ranging from aircraft architecture to sustainable fuel.
(Photo credit: Getty Images)
PARIS – The federal government says it will invest nearly $350 million to support decarbonization of the aerospace industry.
In an announcement at the Paris Air Show on Monday, Industry Minister Francois-Philippe Champagne said the cash will flow to a new fund dubbed the Initiative for Sustainable Aviation Technology (INSAT).
The goal is to foster a national network overseen by an industry-led board that backs collaborative research and development projects ranging from aircraft architecture to sustainable fuel.
The board’s interim chairman Walter Di Bartolomeo says it is the sector, rather than Ottawa, that will determine the most promising projects for sustainable aviation.
“Our mission is to coordinate and accelerate the development of sustainable aviation technologies in Canada—technologies in our products and services, for our OEMs, SMEs, airlines and airports, and in conjunction with adjacent sectors such as Transportation, Energy, and IT,” Di Bartolomeo said. “INSAT is a key vehicle to strengthening Canada’s aerospace sector by supporting this cross-industry collaboration, IP generation and talent development.”
The government says the rollout is a direct response to the main recommendation to emerge from recent consultations led by the Aerospace Industries Association of Canada.
Pressure around green innovation is mounting on the aviation sector, which is responsible for two per cent of global greenhouse gas emissions, according to the International Energy Agency.
www.ic.gc.ca
