March 18, 2009 By News Report
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.
You may use or reference this story with attribution and a link to