The changes coming in November are designed to incentivize Canada’s oilsands majors to invest in new production to fill the province’s proposed one-million-barrel-a-day West Coast oil pipeline, Premier Danielle Smith said Wednesday at an industry expo in Fort McMurray, Alta. (Bloomberg)
U.S.-based OrbiMed and Qiming Venture Partners USA co-led the round, with other investors including Innovation Endeavors, Benchstrength, Fusion Fund, and Toronto-based Lumira Ventures through its Cancer Breakthrough Fund. Altis said it will use the money to expand its AI models across more cancer types and scale its business with global biopharmaceutical companies. (The Logic)
U.S. Immigration and Customs Enforcement reportedly awarded two contracts to the American arm of Montreal-based GardaWorld Security in late August that could be worth more than US$1.3 billion combined. (The Canadian Press)
In a speech to the European Parliament, Prime Minister Mark Carney laid out what he hopes Canadian associate membership in the European Union would mean, including “deep co-operation in the full range of strategic capabilities, including critical minerals, defence industrial capacity, AI and compute, energy security, space and payments.” Young Canadians and Europeans should be able to “work, study and live where they want on either side of the Atlantic,” he added. (The Logic)
The grocery giant said it will use AI startup Eaigle’s technology to monitor the gates of its distribution centres and keep an eye on its freight yards. Chief commercial officer Sam Saad refused to disclose the value of the deal, but said it is a “multi-year, multimillion-dollar” partnership involving most of Loblaw’s Canadian warehouses. (The Logic)
Kanin Energy said Wednesday it has secured backing from S2G Investments and the Canada Growth Fund to scale its waste-heat-to-power business for industrial operators in Canada and the U.S. (The Logic)
New limited partners Broadridge and Fifth Third Bank joined the fund, which is the fourth raised by the venture capital arm of Power Corp. (The Logic)
The Texas-incorporated crypto giant is extending its “DeFi Earn” product to Brazil and Canada, letting users in those countries earn rewards as high as 7.4 per cent annually by lending USDC—a crypto token pegged to the value of the U.S. dollar—to borrowers on the crypto lending protocol Morpho. (The Logic)
Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman over the weekend called for “pacing” the advance of the most powerful AI systems, and antitrust exemptions to allow for industry co-operation. “Market-dominant” firms shouldn't get to set the rules and safety standards, Cohere CEO Aidan Gomez said in a post. “A wolf in sheep’s clothing, a cartel by any other name.” (The Logic)
The Toronto lender is targeting energy, critical minerals, defence and aerospace, AI and infrastructure for new financing, underwriting, advisory and other services. It plans to spend the money over five years. (The Logic)