Industrial, Sourcing Renewables - June 21, 2023
Canada Invests $350 Million in National Sustainable Aviation Network
Canada will make an investment of $350 million to support the country’s new Initiative for Sustainable Aviation Technology (INSAT) to accelerate the green industrial transformation of the aerospace industry.
This investment will be conducted via the Strategic Innovation Fund and will establish a pan-Canadian, industry-led aerospace network focused on funding collaborative research and development projects with companies of all sizes across the Canadian supply chain.
The projects will focus on hybrid and alternative propulsion; aircraft architecture and systems integration; transition to alternative fuels; and aircraft support infrastructure and operations.
The announcement of $350 million for INSAT includes the $49 million announced in 2019 for aerospace innovation.
The global aviation sector accounts for 2% of global greenhouse gas emissions. In fall 2022, Canada's Minister of Transport released Canada’s Aviation Climate Action Plan 2022–2030, which lays out a strategy for achieving net zero by 2050. The strategy includes the development and adoption of new green aerospace technologies.
“Our government is committed to making Canada a leader and a strategic partner of choice when it comes to sustainable aviation," said The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, in a statement. "Today’s $350 million investment to support the Initiative for Sustainable Aviation Technology will help drive and accelerate the green industrial transformation of Canada’s aerospace industry, generating high-value jobs while strengthening supply chains and supporting the transition to a net-zero economy.”
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