19:21:20 EDT Fri 03 May 2024
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Tesla Inc CDRs (CAD Hedged)
Symbol TSLA
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Close 2024-03-13 C$ 15.63
Market Cap C$ 310,255,500
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Globe says Emera, Tesla chip in to innovation centre

2024-03-14 09:08 ET - In the News

See In the News (C-EMA) Emera Inc

The Globe and Mail reports in its Thursday, March 14, edition that Canadian scientists who are working on developing new materials for electric vehicle batteries are facing a challenge. The Globe's Ivan Smeniuk writes that once they move past the experimental stage, they have to seek resources outside the country to build and test a full-scale prototype. However, this challenge is going to be overcome with the launch of the Canadian Battery Innovation Centre (CBI). The centre, which will be located at Dalhousie University in Halifax, is expected to generate numerous prototypes every week. The centre is one of more than 100 projects at 32 universities and research hospitals to receive a green light on Wednesday from the Canadian Foundation for Innovation (CFI). CFI funds are aimed at the nuts and bolts of science, including facilities. The projects named by CFI on Wednesday will share in close to $515-million. The CBI, which is slated to open in the fall of 2025. Like other CFI supported projects, the $20-million centre will receive only a portion of its funding -- about $5 million -- from the CFI. Emera and Tesla will add $350,000 and $200,000 to the centre, with the remaining funders already on board but not yet named.

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