Developing a competitive clean energy sector will strengthen the economy, create jobs, open new market opportunities, and build a viable future for all Canadians. That is why the Government of Canada is supporting Victory Advanced Technologies (VAT), a Saint John-based company specializing in a high-performance, electric drive system.
Today, Wayne Long, Member of Parliament for Saint John - Rothesay, announced an investment of $400,223 in VAT through ACOA's Regional Economic Growth through Innovation (REGI) program. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
The funding is helping VAT acquire the expertise, tools and equipment to commercialize and manufacture their high-efficiency, carbon-negative electric motor system at the company's Saint John facility. Designed for harsh environments like the Canadian climate, VAT's rugged e-system will offer a sustainable, ethical alternative to other electric motors on the market today, and will serve the automotive, aerospace and marine industries.
Today's announcement highlights how the Government of Canada is contributing to Atlantic Canada's momentum by strengthening communities, creating new opportunities, and setting the stage for a strong, sustainable future.
