Canada investing C$350 million to boost drive for sustainable aerospace industry
1:43 pm Monday, June 19th, 2023
OTTAWA (Reuters) – Canada is investing C$350 million ($265 million) to help fund efforts to make the aerospace industry more environmentally sustainable, Innovation Minister Francois-Philippe Champagne said on Monday.
The focus will be on hybrid and alternative propulsion, aircraft systems, the transition to alternative fuels, and aircraft support infrastructure, he said in a statement.
“(This) … 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,” he said.
Earlier this month, global airlines called for broad co-operation to reach “very tough” emission targets. Aviation, which produces around 2% of the world’s emissions, is considered one of the hardest sectors to decarbonise.
The C$350 million includes a C$49 million aerospace innovation investment announced in 2019.
Airbus said in 2021 it was working on hybrid-electric propulsion among the options for reducing jetliner emissions. It has pledged to introduce the first hydrogen-powered commercial plane in 2035.
In 2019, Vancouver-based seaplane operator Harbour Air carried out the world’s first fully electric, commercial flight.
($1 = 1.3202 Canadian dollars)
(Reporting by David Ljunggren; editing by Jonathan Oatis)
