Ontario is helping reduce transit emissions and increase passenger safety by supporting new innovations in green transportation.
The province is providing a grant of $12.8 million to support an investment by Thales Rail Signaling Solutions of $85 million over the next five years to improve its transit rail signaling technology.
Thales will use this funding to invest in green research and development programs to upgrade and modernize its technology so that trains can operate closer together, reduce energy consumption, and increase passenger capacity and efficiency.
The support comes from Ontario's Next Generation of Jobs Fund, a $1.15 billion business incentive program designed to create and protect jobs for Ontario families. Partnering with businesses is a component of the Ontario government's five-point plan to grow the economy.
Thales is focused on the Urban Rail Signaling and Control market, estimated to be worth US$6 billion. This Next Generation of Jobs Fund project will have a positive impact towards climate change. Thales will allow transit operators to offer high quality transit systems that will convince more people to reduce their car usage and their carbon footprint.
"This grant by the Ontario government means almost $100 million more being invested in our economy in one fell swoop. The world is looking for the next generation of green technology and products. We want to ensure Ontario is a leader in greenhouse gas reductions, energy efficiency and the green economy. Our government will continue to make strategic investments in innovation that will anchor jobs and investments in Ontario while positioning our province as a centre of excellence," said Michael Bryant, minister of economic development.
"This support from the province is helping Thales move forward with its product development and growth plans. Our company is making research and development a priority, which is another example of our commitment in creating Canadian jobs while supporting the Ontario government's 'Go Green' goals. We want Thales to be well-positioned to provide solutions to meet the growing needs of our customers in the highly competitive urban transportation market," commented Bruno Cohades, president & CEO, Thales Rail Signaling Solutions.