Minister Chagger Announces Investment in Sustainable Transportation
FedDev Ontario will invest $800,000 to support cleantech innovation and job creation
March 14, 2018 - Waterloo, Ontario
In the fight against climate change, the Government of Canada is committed to supporting innovative companies working to develop modern, world-leading, energy-efficient solutions.
Today, the Honourable Bardish Chagger, Leader of the Government in the House of Commons, Minister of Small Business and Tourism, and Member of Parliament for Waterloo, announced that the Government of Canada will invest up to $800,000 in Accelerated Systems Inc. (ASI).
This investment will help ASI expand operations and commercialize its specialized parts and custom software for electric vehicles. These vehicles help to reduce greenhouse gas emissions and fuel costs, while providing an alternative source of transportation. ASI will be able to increase innovation in manufacturing and clean technology and scale up operations to help sell its environmentally-friendly products in global markets.
“Accelerated Systems Inc. is a local Waterloo success story. Over the years, I have watched the company grow into the leader it has become today. I am proud of the fact that the Government of Canada is working with ASI to expand their ability to create energy-efficient products that promote responsible, sustainable transportation. Today’s announcement is great news for our community. It will help create jobs and boost innovation in our local manufacturing and clean technology sectors – a big win for the Waterloo region.”
– The Honourable Bardish Chagger, Minister of Small Business and Tourism, Leader of the Government in the House of Commons and Member of Parliament for Waterloo
“The Government of Canada is committed to helping provide Canadians with cleaner and more efficient transportation choices while advancing the clean growth economy. This investment is helping Accelerated Systems Inc. to scale up, while demonstrating how innovation can be used to make our lives healthier, now and in the years to come.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The support of the federal government is enabling Accelerated Systems Inc. to become a world leader in the development of AC Drive Systems for Electric Bikes, battery-powered lawnmowers and off-road utility vehicles.”
– Bill Jager, CEO, Accelerated Systems Inc.
Accelerated Systems Inc., a Waterloo-based company established in 2004, manufactures motors, controllers and drivetrain products for e-bikes, electric equipment and electric vehicles.
The company is now integrating parts of its motors into a complete electric drive system to be marketed to manufacturers.
ASI’s innovative products and solutions for electric vehicles are helping to ensure healthier and safer communities around the world. ASI projects its e-bike controllers will save over 800,000 tons of greenhouse gas emissions over the next 10 years.
FedDev Ontario's repayable contribution will leverage up to $1.6 million in private investments and is in line with the Government’s commitment for regional development agencies to double annual support for clean technology.
FedDev Ontario previously provided ASI with a repayable contribution of $128,138 to support the construction of a vehicle test lab.
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