The Canadian Province of Ontario has granted Thales CA$12.8bn to support a signalling initiative that will help reduce transit emissions and increase passenger safety numbers.
The province is providing the grant to support an investment by Thales Rail Signalling Solutions of CA$85m over the next five years to improve its transit rail signalling technology.
The funding will be used to invest in green research and development programmes to upgrade and modernise technology that will allow trains to operate closer together, reduce energy consumption, and increase passenger capacity and efficiency.
Canadian Minister of Economic Development, Michael Bryant said that the world was looking for the next generation of green technology.
“We want to make strategic investments in innovation that will ensure Ontario is at the centre of pioneering greenhouse gas reductions, energy efficiency and the green economy,” he said.
President and CEO, Thales Rail Signalling Solutions, Bruno Cohades said that the support would enable Thales to go ahead with its product development and growth plans.
“Our company is making research and development a priority while also creating jobs and supporting the Ontario government’s ‘go-green’ goals,” he said.
The support comes from Ontario’s Next Generation of Jobs Fund, a CA$1.15bn business incentive programme designed to create and protect jobs in Ontario.
By Daniel Garrun.