Ottawa Unveils $350 Million Fund to Support Green Technology in Aerospace
PARIS – The federal government says it will invest nearly $350 million to support the low-carbon aviation industry.
In an announcement at the Paris Air Show on Monday, Industry Minister François-Philippe Champagne said the money will flow into a new fund called the Initiative for Sustainable Aviation Technology.
The goal is to foster a national network overseen by an industry-led board that supports collaborative research and development projects ranging from aircraft architecture to sustainable fuel.
The board’s interim chairman, Walter Di Bartolomeo, says it is the industry, not Ottawa, that will determine the most promising sustainable aviation projects.
The government says the rollout is in direct response to the key recommendation emerging 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 percent of global greenhouse gas emissions, according to the International Energy Agency.
This report from The Canadian Press was first published on June 19, 2023.
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