Connect with us

Technology

Minister Vandal announces investments to support infrastructure and economic development projects across Alberta

Published

on

More than $39 million to help Alberta communities attract investments, create jobs and transition to a sustainable green economy

WABAMUN,  AB, July 3, 2024 /CNW/ – Canada and the world are shifting away from coal-fired power, to protect our climate, and create a more sustainable and robust economy. The Government of Canada is investing in communities, workers and people impacted by the coal transition, and we are making sure that they are at the centre of our work.

Today, the Honourable Dan Vandal, Minister for PrairiesCan, announced $39,432,507 for 10 projects – through the Canada Coal Transition Initiative (CCTI) and Canada Coal Transition Initiative-Infrastructure Fund (CCTI-IF) – to support sustainable economic growth in coal affected communities across Alberta. This funding, through PrairiesCan, is supporting the building of new infrastructure to attract new investments, help business grow, and create strong and resilient communities with more well-paying jobs.

Examples of projects receiving support include:

Parkland County is receiving $17,500,000 to upgrade the Wabamun wastewater facility, develop a water feature and redevelop the existing public waterfront park in the Hamlet of Wabamun.Paul First Nation is receiving $850,000 for a transition, training, and employment centre for entrepreneurship training and business support.The Town of Castor is receiving $891,000 to reconstruct and convert a campground area into a year-round multipurpose venue.The Town of Coronation is receiving $891,000 to renovate and retrofit two buildings into business incubator and accelerator centres that offer business supports and programming to foster commercial growth.The Village of Forestburg is receiving $313,000 to develop land and underground utilities for the proposed Jeanne Lougheed Historic Park and to the Flagstaff County border to support a proposed joint industrial park.

Projects receiving funding will support more than 680 jobs and help Alberta communities take advantage of economic opportunities reflective of the increasingly diversified Prairie economy.

In line with the principles of the Government of Canada’s Framework to Build a Green Prairie Economy, these investments are about working together on common interests, to make a sustainable and prosperous net-zero economy achievable by enhancing capacity and skills development in these communities and providing support to grow their businesses.

Quotes

“Transitioning to a low-carbon economy is good for our environment, our economy, our health, and our future. This government’s support for these 10 projects represents our prioritization of workers and communities impacted by coal transition. These investments will help create good-paying jobs, attract new investment opportunities and build a stronger, more sustainable economic future in Alberta and across the Prairies.”
–The Honourable Dan Vandal, Minister for PrairiesCan

“As we transition from coal, the federal government is doing our part with municipal and regional partners to ensure Albertans receive the support they need. Driving economic growth, creating the jobs of the future, and opening opportunities that make transition easier for Alberta’s coal communities is what today’s investments are all about.”
–The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages

“These investments are key to encouraging the future growth of our community and improving the quality of life of our residents, businesses, and visitors. This funding supports improvements to County infrastructure and will boost local tourism and development while leading to future economic prosperity and a sustainable economy. We look forward to the many opportunities and economic development that will arise from these investments – Parkland County’s future is bright.”
–Allan Gamble, Mayor, Parkland County

Paul First Nation is exceedingly pleased with the valuable contributions made towards our training and capacity building. With this assistance and support, we will greatly enhance our opportunities for economic and social development, as well as stimulate the economy while building good relationships and upstanding role model citizens. We would like to extend our thanks to PrairiesCan. It is our desire to take full advantage of this opportunity. By providing grass roots cultural teachings and rituals, we will provide our young people with the necessary tools to succeed.”
–Dennis Paul, Technical Advisor, Paul First Nation

Quick facts

Today’s investments bring total federal funding for Alberta communities to over $14 million invested since 2018 through the Canada Coal Transition Initiative (CCTI) and over $60 million invested since 2019 through Canada Coal Transition Initiative-Infrastructure Fund (CCTI-IF).The Canada Coal Transition Initiative (CCTI) supports skills development and helps communities adapt to a low-carbon economy.The Canada Coal Transition Initiative – Infrastructure Fund (CCTI-IF) aims to help communities move away from coal by investing in infrastructure.The Framework to Build a Green Prairie Economy is a long-term commitment to work differently, through stronger coordination among federal departments on investments for the Prairies and closer collaboration with Prairie partners on their priorities for a prosperous and sustainable Prairie economy.

Backgrounder

PrairiesCan is investing $39,432,507 for 10 Alberta projects to support skill development, infrastructure investment and economic diversification in impacted communities transitioning from coal-fired electricity generation. Projects receiving funding will have significant environmental and economic benefits, including supporting more than 680 jobs while enabling coal-affected communities to create new sources of economic growth.

PrairiesCan funding for these 10 projects is through the Canada Coal Transition Initiative (CCTI) and Canada Coal Transition Initiative – Infrastructure Fund (CCTI-IF).

Canada Coal Transition Initiative (CCTI) – $1,382,507

CCTI is an investment of $35 million over five years. It supports skills development and helps communities adapt to a low-carbon economy. The fund was launched on April 1, 2018, and ended March 31, 2023. Investments under CCTI have supported a total of 15 projects in Alberta.

Projects announced today as receiving support through the CCTI include:

Paul First Nation is receiving $850,000 to develop a transition, training, and employment centre for entrepreneurship training and business support.Paul First Nation is receiving $532,507 to conduct a feasibility and technical study for the requirements of a solar park development.

Canada Coal Transition Initiative-Infrastructure Fund (CCTI-IF) – $38,050,000

The CCTI-IF was launched on August 20, 2020. This $150 million fund aims to help communities move away from coal by investing in infrastructure. The initiative is set to end on March 31, 2025. To date, investments under CCTI-IF have supported a total of 14 projects in Alberta.

Projects announced today as receiving support through the CCTI-IF include:

County of Paintearth is receiving $2,300,000 to upgrade and develop wastewater and stormwater easement infrastructure for a mixed-use industrial park.Parkland County is receiving $17,500,000 to upgrade the Wabamun wastewater facility, develop a water feature and redevelop the existing public waterfront park in the Hamlet of Wabamun.Parkland County is receiving $12,400,000 to upgrade Spruce Valley and Pinchbeck-Bevington Road intersections on Highway 16A to increase access to Acheson Industrial Area.The Town of Castor is receiving $891,000 to reconstruct and convert a campground area into a year-round multipurpose venue.The Town of Coronation is receiving $891,000 to renovate and retrofit two buildings into business incubator and accelerator centres to offer business supports and programming to foster commercial growth.The Village of Forestburg is receiving $313,000 to develop land and underground utilities for the proposed Jeanne Lougheed Historic Park and to the Flagstaff County border to support a proposed joint industrial park.The Village of Forestburg is receiving $250,000 to develop the planning and design of the Forestburg South Industrial Subdivision.The Village of Forestburg is receiving $3,505,000 for design and construction of roadway and utility extensions in the industrial park in the Village of Forestburg.

Associated links

Prairies Economic Development Canada (PrairiesCan)Green Prairie EconomyPowering Past Coal Alliance: phasing out coalTask Force: Just Transition for Canadian Coal Power Workers and Communities

Stay connected

Follow PrairiesCan on Twitter and LinkedIn

Toll-Free Number: 1-888-338-9378 TTY (telecommunications device for the hearing impaired): 1-877-303-3388

SOURCE Prairies Economic Development Canada

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

MEMS Drive: Paving the Way for Super-High Image Resolution

Published

on

By

TAIPEI, Dec. 26, 2024 /PRNewswire/ — Fabless chip firm MEMS Drive Hong Kong Ltd manufactures cutting-edge MEMS actuators targeted at mobile imaging in portable electronics. The company uses its proprietary MEMS design and process to allow CMOS sensors to achieve swift and precise ‘SensorShift’ and is the first semiconductor company to implement 5-axis stabilization in mobile cameras.

“With edge computing capabilities steadily advancing, MEMS Drive utilizes precise movement matching algorithms and artificial intelligence [AI] to derive multiple image-enhancing features besides just stabilization, such as super-resolution and improving identification capabilities,” says Colin Kwan, CEO and President of MEMS Drive during an interview with EE Times Asia. “MEMS SensorShift-driven image sensors overturn traditional voice coil motors [VCMs], and could be applied to mobile phones, sports cameras, wearable tech, surveillance, autonomous vehicles, robotic vision and other products, bringing unlimited possibilities to the future of imaging systems.”

It is for these reasons that the company won an Innovation Award and Best Sensor of the Year award for its piezo technology-enabled autofocus actuator and optical image stabilizer (OIS) actuator at EE Awards Asia 2024. Now in its fourth year, EE Awards Asia honors some of the best products, companies, and leaders making a difference every day in Asia’s electronics industry.

The MEMS autofocus (AF) actuator is a piezoelectric multi-morphic thin film actuator that can move at Z-axis and tip-tilt directions to achieve a 3-axis compensation. The MEMS devices are designed to be based on standard silicon fabrication processes, thereby enabling good scalability and ease of handling, testing, and packaging.

According to Colin, this sensor-based technology offers multiple advantages. “It provides 3-axis image adjustments as compared to 1-axis counterparts on lens-based AF systems; it also moves three times faster and 10 times more precise by detecting positions of less than a pixel, compared to 3-5µm on lens-based AF,” he explains. “And finally, by not using a motor to move the lens around, it consumes up to 50 times less power and avoids heating problems that could affect the image’s quality.”

Meanwhile, its OIS, known as SensorShift, is said to be the world’s smallest MEMS OIS actuator. It provides a 5-axis OIS solution to improve clarity and achieve stable and precise image.

“All vibrations in pitch, yaw, roll, translational X, and translational Y can be compensated with a single MEMS chip,” says Colin. “Due to its high precision and fast response in active movement, we can achieve another application called super resolution. By shifting the imager 1 pixel or half a pixel in different directions, capturing the image at each position, and then merging and processing those images, we can get a 4X or even higher-resolution image.”

Colin notes that compared to traditional lens-based OIS, MEMS Drive’s MEMS OIS is a sensor shift solution that provides superior stabilization performance with multiple advantages, including a 10ms fast response, just 4mW of power consumption, sub-pixel precision, and high image resolution in low light and video without blur.

“Powered by our patented electrical conductive flexure [ECF] technology, the MEMS Drive actuator provides consistent, durable performance,” says Colin. “With over 2.5 billion test cycles completed in continuous operation, these innovations are crucial for ensuring the highest standards in automotive applications and safety.”

MEMS Drive’s technology is suitable for smartphones, automotive, wearable technologies such as AR/VR camera systems, sports cameras, smart city applications, and robotic vision.

In this video interview, Colin also talks about his outlook for the semiconductor and electronics manufacturing industry over the next year, upcoming challenges amid the increasingly complex designs and architectures, and the new opportunities in the market.

For more information about MEMS Drive Hong Kong Limited and its innovative solutions, please visit: memsdrive.com
Youtube / Bilibili : MEMSDrive
LinkedIn: MEMS Drive

View original content to download multimedia:https://www.prnewswire.com/news-releases/mems-drive-paving-the-way-for-super-high-image-resolution-302338882.html

SOURCE EE Times Asia

Continue Reading

Technology

Nodepay Raises $7M Total Funding To Power AI Growth with Real-Time Data Infrastructure

Published

on

By

SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.

The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.

Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).

Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”

Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.

Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”

With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.

Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.

About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.

Photo – https://mma.prnewswire.com/media/2587832/7M_Raised_Funds.jpg

Logo – https://mma.prnewswire.com/media/2587833/1080x1080_Black___Nodepay_2_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/nodepay-raises-7m-total-funding-to-power-ai-growth-with-real-time-data-infrastructure-302339478.html

Continue Reading

Technology

Plume Network Partners with Maseer to Tokenize $200M of Carbon Allowances

Published

on

By

NEW YORK, Dec. 26, 2024 /PRNewswire/ — Plume Network is proud to announce a strategic partnership with Maseer, an Abu Dhabi based tokenization platform, to bring $200M in Carbon Allowances exclusively on-chain to Plume. Built on Plume’s Real-World Asset Finance (RWAfi) ecosystem, Maseer will offer a tokenized solution to one of the fastest-growing alternative asset classes: compliance carbon.

Empowering Climate Action Through Compliance Carbon Tokenization

Compliance carbon has been one of the fastest growing alternative asset classes given increased regulatory and business scrutiny on emissions. The S&P Global Carbon Credit Index, which tracks the most liquid segment of the tradable carbon credit futures markets, has seen a 15.68% annualized return over the past five years. The value of these markets reached nearly one trillion USD in 2023.

The partnership with Plume Network allows Maseer to bring fully collateralized carbon products on-chain, where they will be fully compatible with Web3’s potent DeFi sector. DeFi integration vastly enhances compliance carbon markets with superior liquidity solutions and greater access to a global body of investors, broader market demand, and new yield sources.

“We are excited to partner with Plume to bring carbon allowances on chain. Plume is uniquely positioned to bring this vision to fruition because they are the only chain purpose built for RWAs. They’ve raised the bar with their tokenization engine, infrastructure tooling, and ecosystem network effects. We believe Plume is on the bleeding edge of on-chain adoption of RWAs,” said Bradley Allgood, CEO of Maseer.

“Energy transition is an asset category that we have been increasingly focused on at Plume because of growing demand for climate action, both from a government and corporate sustainability perspective. Volumes for the global carbon credit market are forecasted to grow at a 39% CAGR from 2024 to 2033,” said Teddy Pornprinya, Chief Business Officer and Co-Founder at Plume Network.

What are carbon allowances?

Compliance carbon allowances trade under cap-and-trade programs known as Emissions Trading Systems (ETS). These systems create transparent, liquid markets that are government-mandated and regulated. As of April 1, 2024, approximately 18 percent of global greenhouse gas emissions are covered by emissions trading systems (ETS). Carbon allowances are distinct from project-based carbon offsets and offer a market-based approach to regulating a region’s emissions, with mandatory participation for specified industries. Carbon allowance supply is managed by government agencies and adjusted primarily through an annually declining cap. 

About Plume
Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs. Learn more at https://www.plumenetwork.xyz/ or contact press@plumenetwork.xyz

About Maseer
Maseer operates out of Abu Dhabi Global Market (ADGM), the world’s leading Special Economic Zone (SEZ) for digital asset innovation. Maseer is led by Tokenization and Free Zone Veteran Bradley Allgood and is focused on the design of bringing real world assets on chain to be fully interoperable with DeFi. Maseer has developed strategic relationships with Sovereign Nations and Large Enterprises to identify the highest quality real world assets around the world.

View original content to download multimedia:https://www.prnewswire.com/news-releases/plume-network-partners-with-maseer-to-tokenize-200m-of-carbon-allowances-302339461.html

SOURCE Plume Network

Continue Reading

Trending