Canadian Government Funding for BionX
AURORA, Canada – BionX e-bike drive systems will benefit from a Canadian government multi-million support program for the development of electric powered vehicles and to reduce plastics in the environment.
BionX reports that it will receive a forward-looking funding of CAD 3 million (€ 2m) from the Canadian government to develop a smaller, more powerful lightweight propulsion system to improve its existing e-bike systems.
Multi-year strategy for clean technologies
BionX is among six projects which are being funded through ‘Sustainable Development Technology Canada’, which works with Canadian companies to bring early-stage clean technologies to market. Investments in clean technology are part of the government’s ‘Innovation and Skills Plan’, a multi-year strategy to create well-paying jobs.
“Our government’s investments in clean technology reflect our commitment to protecting the planet. But they also point to a clear and strategic direction for economic development through innovation. That’s because innovations in clean tech will lead to products and services that have an impact on all sectors of the economy. And clean tech has the potential to create thousands of well-paying jobs for Canadians,” said Canada’s Minister of Innovation, Science and Economic Development Navdeep Bains when he announcement the investment program of CAD 15.5 million (€ 10.5m).
E-bike drive systems BionX is on booth A6-404 at next week’s Eurobike.