GlobeNewswire

Government of Canada sets sights on transformative carbon-free energy technology in British Columbia

Del

Investment will help create technology leading to 400 jobs and support innovation for emission-free and abundant energy

BURNABY, British Columbia, Oct. 26, 2018 (GLOBE NEWSWIRE) -- In the face of global economic challenges, the Government of Canada is continuing to invest in innovative sectors such as clean technology to create well-paying middle-class jobs, grow Canada’s economy and address the world’s environmental challenges.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, together with the Honourable Harjit Singh Sajjan, Minister of National Defence, announced a $49.3-million investment in General Fusion, a clean technology company seeking to transform the world’s energy supply with safe, sustainable and economical fusion energy.

The funding will help General Fusion create technology leading to 400 new jobs and support its project to develop a first-of-its-kind large-scale prototype plant that will demonstrate a practical approach to commercializing affordable, abundant, safe and emission-free electricity from fusion energy. General Fusion’s technology has the potential to revolutionize how sustainable energy is generated and position British Columbia—and Canada—as a global leader in fusion technology.

Thanks in part to this federal investment through the Strategic Innovation Fund, General Fusion will expand its collaboration with post-secondary institutions and employ inclusive hiring practices as the company grows its workforce. As a result of this project, Canadians will see more intellectual property developed and retained in Canada.

Quotes

“General Fusion is working at the forefront of clean technology. It has the real potential to transform how the world generates abundant clean energy. This will help us reduce our environmental impacts. Our government is proud to invest in this innovative project to help create hundreds of middle-class jobs and position Canada as a world leader in fusion energy technology.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

“Innovative companies such as General Fusion are a key part of our government’s plan to grow the economy and create well-paying middle-class jobs for British Columbians. As a leader in the development of safe, affordable and emission-free electricity, General Fusion is a testament to the kind of quality work that this region is capable of—and the quality talent that is right here in British Columbia.”
– The Honourable Harjit Singh Sajjan, Minister of National Defence

“General Fusion’s ground-breaking technology holds incredible promise in addressing climate change and revolutionizing global clean energy markets. Our government continues to support B.C. tech and innovation, and we are proud to have a world-leading company like General Fusion creating jobs in our strong and sustainable economy, because good jobs in B.C. mean a better life for people and their families.”
– The Honourable Bruce Ralston, B.C. Minister of Jobs, Trade and Technology

“This investment by Canada in General Fusion’s transformative clean energy technology is evidence of its commitment to meeting the country’s climate change goals while fostering truly sustainable growth—sustainable growth that will be powered by the disruptively competitive economics and environmentally responsible benefits of fusion energy. This Strategic Innovation Fund investment and Canada’s expectation for a financial return on this investment are a vote of confidence in General Fusion’s ability to successfully commercialize its technology and in our ability to deliver new jobs and new opportunities throughout British Columbia and across Canada. We are grateful to Canada for its long-standing support of the company, support that has helped General Fusion become the world’s most advanced private fusion technology venture.”
– Christofer Mowry, CEO, General Fusion

Quick facts
       

  • Fusion energy has been proven in laboratories, where closely contained fusion reactions release energy from superheated hydrogen gas, energy which can be captured and converted to electricity. Fusion results in no carbon dioxide emissions and does not produce high-level nuclear waste.
  • According to the International Atomic Energy Agency, in case of failure, fusion reactors automatically come to a halt within a few seconds, with no harmful effects being produced.  
  • General Fusion will invest at least $150 million in Research and Development with the potential for over $250 million in additional investment for the construction of a demonstration plant.
  • Founded in 2002, General Fusion employs more than 70 people in Burnaby and is the only Canadian company working to commercialize fusion technology.
  • Clean technologies contributed over $26 billion, or 1.4%, to Canada’s GDP in 2016. Of this, approximately $8 billion is exported. Clean technologies also provide approximately 178,000 well-paying jobs.
  • This investment supports the Innovation and Skills Plan, the Pan-Canadian Framework on Clean Growth and Climate Change, as well as Canada’s commitments toward Mission Innovation, a global initiative of 23 countries and the European Union to dramatically accelerate global clean energy innovation.
  • General Fusion is one of hundreds of companies that the Clean Growth Hub has worked with to advance clean technology projects in Canada. The Hub’s team of experts from across government helps companies and researchers involved in clean technology projects identify the federal programs and supports most relevant to their needs. 

About General Fusion

General Fusion is pursuing the fastest and most practical path to commercial fusion energy, and is based in Vancouver, BC, Canada and Washington, DC, USA. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers, including: Chrysalix Energy Venture Capital, Bezos Expeditions, Khazanah Nasional Berhad, Cenovus Energy, Growthworks, Braemar Energy Ventures, BDC, Entrepreneurs Fund, SET Ventures, Sustainable Development Technology Canada, and The Strategic Innovation Fund. Learn more at www.generalfusion.com.

For more information:

Paul Sullivan
Office: +1 604 685 4742
Mobile: +1 604 603 7358
paul.sullivan@generalfusion.com

Media contact:

Nilani Logeswaran
A/Press Secretary
Office of the Minister of Innovation, Science and Economic Development
613-668-1794

Media Relations
Innovation, Science and Economic Development Canada
343-291-1777
ic.mediarelations-mediasrelations.ic@canada.ca Strategic Innovation Fund

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA

Follow General Fusion

generalfusion.com

twitter.com/generalfusion

instagram.com/generalfusion

linkedin.com/company/general-fusion

facebook.com/generalfusion


Om GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Følg saker fra GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra GlobeNewswire

Fortuna reports 2018 full year production of 12.8 million silver equivalent ounces and issues 2019 guidance17.1.2019 11:00Pressemelding

VANCOUVER, British Columbia, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce fourth quarter and full year 2018 production figures from its two underground operating mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. For the full year 2018, the Company produced 8.9 million ounces of silver and 54.2 thousand ounces of gold or 12.8 million Ag Eq1 ounces. 2018 Consolidated Production Highlights Silver and gold production were 7 % and 12 % respectively above 2018 guidance Silver production of 8,890,943 ounces; 5 % increase over 2017 Gold production of 54,210 ounces; 4 % decrease over 2017 Zinc production of 45,484,648 pounds; 3 % increase over 2017 Lead production of 28,254,570 pounds; 5 % decrease over 2017 2018 Consolidated Operating Results Q4 2018 2018 Caylloma, Peru San Jose, Mexico Consolidated Caylloma, Peru San Jose, Mexico Consolidated Processed Ore Tonnes milled 135,034 256,181 534,773 1,040,478 Average tpd

WillScot to Participate at the Barclays Industrial Select Conference16.1.2019 21:00Pressemelding

BALTIMORE, Jan. 16, 2019 (GLOBE NEWSWIRE) -- WillScot Corporation (“WillScot”)(NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that Brad Soultz, President and Chief Executive Officer, and Tim Boswell, Chief Financial Officer, will present at the Barclays Industrial Select Conference at the Loews Miami Beach Hotel in Miami, Florida, on Wednesday, Feb. 20, 2019. The presentation will take place at 10:20 a.m. EST. About Williams Scotsman Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the WillScot family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” WillScot is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. It is the modular space supplier of choice for t

CCI has been retained by Waterloo Brewing to obtain Cannabis Licence16.1.2019 16:00Pressemelding

TORONTO, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Cannabis Compliance Inc., (CCI) of Toronto, Ontario is pleased to announce they have partnered with Waterloo Brewing to help them obtain their Research and standard Processing Licence to develop cannabis-infused beverages. “CCI is working with Waterloo Brewing on the early stages of the application process and we are confident that we will help them achieve their desired licenses in time to be an active player in this growing sector of the cannabis industry”, said Brian Wagner, CEO and Founder, Cannabis Compliance Inc. “We are here to guide our clients through the early stages of the licensing process and for the many Health Canada requirements thereafter.” CCI offers end to end business solutions for cannabis companies large and small. Our team brings with them years of experience in the quality, regulatory, security and cultivation sectors, and supports manufacturers and retailers through regulatory challenges. As the world’s largest and mos

Aryaka Announces Expansion of Senior Leadership Team with New Chief Revenue Officer, Chief Transformation Officer and Chief Marketing Officer16.1.2019 15:00Pressemelding

Karen Freitag, Michelle Owczarzak, & Shashi Kiran join Aryaka to address significant growth and assist global enterprises in adopting managed connectivity as-a-service SAN MATEO, Calif., Jan. 16, 2019 (GLOBE NEWSWIRE) -- Aryaka®, announced today the appointment of several new executive hires to the company’s leadership team, including Karen Freitag (Chief Revenue Officer), Michelle Owczarzak (Chief Transformation Officer), and Shashi Kiran (Chief Marketing Officer). “Connectivity is the lifeblood of the global enterprise and Aryaka is the industry benchmark for secure managed connectivity worldwide. We are excited to have experienced industry veterans join our robust executive leadership team and continue to help build upon the immense success and growth that Aryaka has seen in recent years,” said Matt Carter, CEO of Aryaka. “As our customers expand globally, embrace SD-WAN, or move to the cloud, we’re becoming the de facto choice for their needs to make this happen better, faster, che

ADC Therapeutics Announces First Patient Dosed in Phase I Clinical Trial of ADCT-601 in Advanced Solid Tumors16.1.2019 07:00Pressemelding

Pyrrolobenzodiazepine-based antibody drug conjugate targets AXL, a receptor tyrosine kinase highly expressed in solid tumors LAUSANNE, Switzerland, Jan. 16, 2019 (GLOBE NEWSWIRE) -- ADC Therapeutics, an oncology drug discovery and development company that specializes in the development of proprietary antibody drug conjugates (ADCs), today announced that the first patient has been dosed in its Phase I clinical trial evaluating the safety, tolerability, pharmacokinetics and anti-tumor activity of ADCT-601 in patients with selected solid tumors that are locally advanced or metastatic. ADCT-601 is an ADC composed of a humanized monoclonal antibody against human AXL, conjugated using GlycoConnect™ site specific conjugation technology to a pyrrolobenzodiazepine (PBD) dimer toxin. In preclinical studies, ADCT-601 demonstrated potent and specific in vitro and in vivo anti-tumor activity in multiple cancer-derived models with different levels of AXL expression, and was stable and well tolerated

GSA Europe’s Managing Director Elected Co-lead of CEN’s TC456 Committee15.1.2019 21:12Pressemelding

SAN GWANN, Malta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- GSA Europe’s Managing Director Mark Pace has been elected by the Comité Européen de Normalisation (CEN) to lead the creation of a European Union online gaming reporting standard. CEN has established Technical Committee 456 to create this standard in support of online gambling supervision. GSA Europe joined Technical Committee 456 as a Liaison Organization in 2017. The Technical Committee’s mandate from the European Commission is directly aligned with work that GSA Europe has already started, namely, to create a single standard set of data elements and single standard way in which data is provided by online gambling providers to EU Member State regulatory authorities. In addition to joining and now leading the Technical Committee’s work, GSA Europe also donated their draft Regulatory Data Set and Regulatory Reporting Interface to CEN seeking to help jump-start the Committee’s work. “Joining CEN’s TC456 as a Liaison Organization, and no