The deal commits Uniper to buying two million tonnes per annum (mtpa) of liquefied natural gas for up to 20 years, beginning in 2032. It’s being described as Canada’s first binding LNG offtake agreement with Europe, representing a firmer commitment than the letter of interest the Nisga’a Nation-led project in northwestern British Columbia and Germany’s SEFE signed in May. (The Logic)
The asset management giant and Florida-based power utility—the largest in the U.S.—are building the facility on the site of a defunct Cold War uranium-enrichment plant. It will include a two-gigawatt natural gas-fired power plant, up to 2.6 gigawatts of battery storage and an AI and high-performance computing campus with 1.8 gigawatts of computing capacity. (The Logic)
The U.S. Commerce Department will issue the financing via its semiconductor R&D program. Extropic, which is based in San Francisco and Waltham, Mass., will use the funding to develop its thermodynamic sampling unit (TSU) technology. (The Logic)
“What’s been discussed and agreed on unlocks this business in terms of investability,” Jon McKenzie said Wednesday of the new trilateral memorandum of understanding between the Oil Sands Alliance and the federal and Alberta governments. Signed earlier this month, the non-binding agreement aims to boost production from the oilsands while advancing the long-delayed Pathways carbon capture and storage project. (The Logic)
The takeover announced in January stood “no reasonable likelihood” of being completed any time soon, Allied said, due to “broader external factors applicable to cross-border transactions of this scale.” Instead, Zijin is buying a 9.2 per cent stake in the company, injecting capital that Allied plans to use to expand and prospect. All of Allied’s mining is in Africa; in its most recent quarter, it booked a net loss of US$58.3 million. (The Logic)
Intact Financial’s second-quarter net income fell 17 per cent to $720 million from $867 million a year earlier, as higher claims costs pushed its U.K. and international business to a $129-million pre-tax operating loss, down from a $77-million operating profit a year ago. (The Logic)
The Liberal government is dropping its plan to make online streaming giants such as Netflix, Amazon and Disney devote a portion of their Canadian revenues to fund Canadian content. (The Wire Report)
At least nine locomotives from Switzerland’s Stadler are to come from a Spanish factory but up to 36 could be finished in a $357-million assembly and maintenance facility in Montreal, Transport Minister Steven MacKinnon announced. The train engines will be hybrids—mainly diesel but with an assist from batteries, akin to a hybrid car—specially designed for cold Canadian winters, Stadler’s Miguel Cerdá said in a news conference. (The Logic)
Battery Ventures led the Series A round, which included existing investors Y Combinator and San Francisco-based Wayfinder Ventures. Insurer Intact joined the round via its private capital arm, as did truck dealer Penske. Terminal unifies data from trucks so it can be used more easily by insurers and other service companies, and said it will use the money to meet more demand from partner companies. (The Logic)
The average cost of a successful cybersecurity attack on a Canadian firm has reached $7.11 million, IBM reported Wednesday. That’s up from $6.98 million last year. Energy organizations have it worst, with the average cost of a breach in that sector hitting $9.21 million. The findings are based on a voluntary survey of organizations that suffered breaches between March 2025 and February 2026. (The Logic)