Ontario Government partners with green transportation company
Ontario is helping reduce transit emissions and increase passenger safety by supporting new innovations in green transportation.Comments Off on Ontario Government partners with green transportation company
The province is providing a grant of $12.8 million to support an investment by Toronto-based Thales Rail Signalling Solutions of $85 million over the next five years to improve its transit rail signalling technology.
Thales will use this funding to invest in green research and development programs to upgrade and modernize its technology so that trains can operate closer together, reduce energy consumption, and increase passenger capacity and efficiency.
The support comes from Ontario’s Next Generation of Jobs Fund, a $1.15 billion business incentive program designed to create and protect jobs for Ontario families. Partnering with businesses is a component of the Ontario government’s five-point plan to grow the economy.
“Thales is committed to developing the highest quality technologies and skills here in Canada,” said Marcel de Picciotto, president of Thales Canada. “The awarding of this grant also marks an important step in the life of Thales Canada, it marks the renewal of a partnership established between the province and our rail signalling business over three decades ago.”
Thales is focused on the urban rail signalling and control market, estimated to be worth US$6 billion. This Next Generation of Jobs Fund project will have a positive impact towards climate change. Thales will allow transit operators to offer high quality transit systems that will convince more people to reduce their car usage and their carbon footprint.
“The world is looking for the next generation of green technology and products,” said Michael Bryant, Minister of Economic Development. “We want to ensure Ontario is a leader in greenhouse gas reductions, energy efficiency and the green economy.”
“Our company is making research and development a priority, which is another example of our commitment in creating Canadian jobs while supporting the Ontario government’s ‘Go Green’ goals. We want Thales to be well-positioned to provide solutions to meet the growing needs of our customers in the highly competitive urban transportation market,” commented Bruno Cohades, president and CEO of Thales Rail Signalling Solutions.