A Year of Agreements Paves the Way for Growth
Today’s announcement builds on the foundation of a series of agreements signed throughout the year, positioning Canada as a global player in the battery and electric vehicle manufacturing sectors. These agreements, attracting billions in investments and promising thousands of high-quality jobs, reflect Canada’s commitment to a sustainable and prosperous future.
Electrifying a Cleaner Tomorrow in Maple Ridge
The lithium-ion battery cells to be produced in Maple Ridge are not just a technological advance; they are a critical component in the transition to cleaner, more efficient energy sources. These batteries will electrify devices that traditionally relied on diesel, spanning consumer electronics, power tools, medical devices, high-performance vehicles, and aerospace applications.
E-One Moli: A Global Player in Battery Innovation
E-One Moli Energy (Canada) Ltd., a subsidiary of the globally renowned E-One Moli Energy Corporation, is at the forefront of high-performance, superior quality, rechargeable lithium-ion cell products. The company will lead manufacturing operations upon completion, solidifying Canada’s position as a key player in cutting-edge battery technology.
Construction Set to Begin in June 2024
The anticipation of construction beginning in June 2024 heightens the excitement surrounding today’s announcement. The E-One Moli manufacturing facility, expected to be fully operational by 2028, will be a cornerstone in Canada’s rapidly expanding battery manufacturing landscape.
Budget 2023 Fuels the Green Revolution
Canada’s commitment to environmental sustainability is further underscored by Budget 2023, which allocated $500 million over 10 years to the Strategic Innovation Fund (SIF). This financial injection aims to support the development and application of clean technologies, with an additional $1.5 billion from the SIF directed towards projects in clean technologies, critical minerals, and industrial transformation.
Net Zero Accelerator Initiative Spurs Innovation
A crucial aspect of the SIF program, the Net Zero Accelerator (NZA) Initiative, invites forward-looking Canadian companies to contribute to Canada’s global leadership efforts and meet ambitious emissions reduction targets. This initiative serves as a catalyst for innovation, pushing companies to align with Canada’s green vision and actively participate in the pursuit of a sustainable tomorrow.