Ksi Lisims LNG—a proposed major liquefied natural gas terminal on B.C.’s northwest coast—has struck a deal to provide German energy company SEFE one million tonnes per year of liquefied natural gas. The deal, which is meant to last up to 20 years, will help advance one of the world’s cleanest LNG projects while also strengthening energy security for Canada’s allies, Natural Resources Minister Tim Hodgson said. (The Logic)
The proponents of Project Agorá said Wednesday that they had successfully developed a system for using tokens to transfer large amounts of money in multiple currencies. Canada’s central bank missed out on that work, but it will participate in the testing phase. (The Logic)
The lender’s net income in the second quarter was $2.63 billion, almost 30 per cent higher than the same period last year and ahead of analyst expectations, according to data from S&P Global Market Intelligence. But TD Cowen analyst Mario Mendonca pointed out in a note that flat loan growth on average across the bank is cause for concern. (The Logic)
The lender reported net income of $2.63 billion in the second quarter, up 34 per cent from last year and higher than analysts surveyed by S&P Global Market Intelligence expected. In a release, BMO credited higher fee revenue across divisions as a major driver for its profit growth. (The Logic)
“We’re confident that allowing people to use it and build on it is going to result in more business for us,” co-founder Nick Frosst said at the Toronto Tech Week Homecoming event. Cohere can instead make money by selling things that make the technology “really useful,” like installation services, connectors to other software systems, and search tools. (The Logic)
No deal is done, but the government will start final negotiations with Saab over a fleet of air force jets with early-warning and control capabilities, Prime Minister Mark Carney said at the Cansec trade show in Ottawa. The Swedish company has a partnership with Bombardier, called GlobalEye, under which Bombardier supplies the plane bodies and Saab outfits them for different customers. As part of the prospective Canadian purchase, at least 40 jets will be manufactured in Canada for the wider GlobalEye program. (The Logic)
The Vancouver-based athleisure giant and its founder, a shareholder who no longer has an active role with the company, entered into a co-operation agreement that will see two of Wilson’s nominees join the company’s board of directors after its annual general meeting next month. (The Logic)
Some 44 per cent of the executives at large and growing Canadian software companies that sell to other businesses said their companies had adopted agentic AI, according to a survey by investment firm Georgian and research firm NewtonX. Across the U.S., U.K. and Israel, the rate was 67 per cent. (The Logic)
New Brunswick Innovation Foundation, Frostbite Capital, Blue Bear Capital,18West and Blue Wing Ventures also participated in the Fredericton, N.B.-based startup’s raise. It’s BDC’s second investment from its StrongNorth Fund in two weeks, after backing Vancouver-based Photonic’s $275 million raise earlier this month. (The Logic)
Especially in the technology space, “picking winners” should be left to venture capitalists, not governments, said Jack Newton, who leads the B.C.-based legaltech company. Provincial and federal governments should focus on improving tax and immigration policy to attract company founders, he said at a Toronto Tech Week event. (The Logic)