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Government of Canada invests to accelerate aviation industry’s green transformation

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Pratt & Whitney Canada’s research and development project will advance more sustainable aerospace technologies

OTTAWA, ON, Nov. 6, 2024 /CNW/ – As part of its continued commitment to a strong aerospace sector in Canada, the Government of Canada is making investments that will foster innovation and bolster competitiveness in the Canadian aerospace industry and accelerate its green transformation. The aerospace sector is a driving force for innovation and economic growth in Canada, which makes the greening of the industry a crucial part of the transition toward a low-carbon economy.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a contribution of $11.3 million through the Strategic Innovation Fund to support Pratt & Whitney Canada’s $34.9 million research and development (R&D) project targeted at maturing next-generation thermal engine technologies. By enabling more efficient performance and reduced emissions for future aircraft propulsion systems, these thermal engine technologies will help the sector move toward its net-zero carbon emissions objective.

By supporting R&D projects led by Pratt & Whitney Canada, investments by the Strategic Innovation Fund are expected to contribute to maintain thousands of jobs and employ students for around 325 co-op terms annually, and will involve collaborations with numerous research institutes and academic partners to support the advancement of aviation technology.

Based in Longueuil, Quebec, Pratt & Whitney Canada is a global leader in the development, manufacture and maintenance of gas turbine engines and auxiliary power units. This Strategic Innovation Fund investment will help position Canadian aerospace at the forefront of industry-wide efforts to develop green aerospace technologies to address the growing global demand for more sustainable aviation products.

Quotes

“We are joining forces with the industry to develop a national aerospace strategy, aimed at keeping leaders ahead in sustainable technologies. Today, we are supporting an innovative R&D project with Pratt & Whitney Canada to strengthen Canada’s leadership in sustainable aviation, reduce emissions, and meet climate goals. This project will create high-quality jobs and generate economic benefits during the sector’s green transition.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“Canada’s Strategic Innovation Fund plays a vital role in supporting our industry’s initiatives to innovate and harness opportunities for collaboration to achieve our common goal of reaching a more sustainable future for aviation. This particular project is targeted at demonstrating advanced solutions to increase engine thermal efficiency to help reduce fuel burn and emissions for a wide variety of future aircraft platforms. This complements our roadmap to advance hybrid-electric propulsion and alternative fuel technologies.”
– Maria Della Posta, President, Pratt & Whitney Canada

Quick facts

In Budget 2021, the government announced that $1.75 billion in Strategic Innovation Fund support will be targeted to the aerospace sector for projects that anchor production mandates and jobs in Canada and support industrial transformation to grow Canada’s global leadership in sustainable aviation.In fall 2022, the Minister of Transport released Canada’s Aviation Climate Action Plan 2022–2030, which lays out a strategy for achieving net zero by 2050.Pratt & Whitney Canada is based in Longueil, Quebec, and also has facilities in Ontario, Alberta and Nova Scotia.

Associated links

Strategic Innovation FundCanada’s Aviation Climate Action Plan2030 Emissions Reduction PlanPratt & WhitneyState of Canada’s Aerospace Industry

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SOURCE Innovation, Science and Economic Development Canada

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Oberon Securities Advises Keens Steakhouse in Sale Transaction

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3 hours ago

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November 23, 2024

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Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

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Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

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6 hours ago

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November 23, 2024

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SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/specified-technologies-inc-unveils-firestop-clash-management-and-locator-updates-302314629.html

SOURCE Specified Technologies, Inc.

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ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

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7 hours ago

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November 23, 2024

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BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC

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