NGen has announced funding for 15 new advanced manufacturing projects valued at $59 million. The investments will support 31 companies in various manufacturing sectors across Canada.
The announcement follows recent NGen programs including the Commercialization of Quantum Technologies (National Quantum Strategy), Electric Vehicle Value Chain Program, and Moonshot for Mining, Minerals and Manufacturing (Canadian Space Agency).
NGen’s investment of $21.4 million in these projects leveraged a total of $37.4 million in industry contributions from 15 project consortia.
To date, NGen has approved 211 Cluster projects with 483 industry partners and 313 research groups from across Canada. To date, those investments have resulted in $7.2 billion in new sales – a 5x return on Federal taxes.
As a result of NGen projects, 66 new companies and 3,901 direct jobs have been created.
“From the development of new quantum technologies for manufacturing to mining on the moon, Canada’s advanced manufacturing ecosystem is tackling big challenges,” said Jayson Myers, CEO, NGen.
“Through NGen’s collaborative approach to innovation, we’re creating private and public sector partnerships across provincial boundaries that are building world-leading advanced manufacturing capabilities in Canada, creating new high-value jobs for Canadians, and addressing many of the world’s most pressing challenges.”
Among the investments in the EV Value Chain Program are Montreal’s Plasmagear and Vancouver’s Ionomr Innovations.