Nova Scotia Power’s parent company said it needs to cut about $1 billion in costs to account for a new rate cap and earnings limits the provincial government imposed this week to control rising electricity bills. (CBC)
While the country currently has no chip fabrication plants, Innovation Minister François-Philippe Champagne said Friday he’s “cautiously optimistic” that a “number of manufacturers are committed to increase their presence in Canada.” He was speaking to reporters from Washington, D.C., where he discussed supply chains with U.S. Commerce Secretary Gina Raimondo and met with the Semiconductor Industry Association. (The Logic)
St-Martin was most recently chief revenue officer at the Montreal-headquartered firm, which he joined in May 2019 when it acquired his startup Chronogolf. Chief business officer Michael DeSimone will leave the firm at the end of the year. (The Logic)
The mining and refinery company has agreed to a five-year deal, providing the automaker enough lithium hydroxide each year to power 150,000 EVs. The battery material will come from its first lithium converter in Germany, for a sales volume of about $2 billion. (The Logic)
A mobile virtual network operator (MVNO) that wants mandated access to the infrastructure of any of the Big Three telecom firms and SaskTel will already need to be offering cellphone services to consumers and hold spectrum where it plans to operate, the Canadian Radio-television and Telecommunications Commission (CRTC) ruled on Wednesday. The two sides will need to agree on a price for access between themselves, with the regulator handling binding arbitration if they fail to reach a deal. Rates must be open for renegotiation every two years. (The Logic)
The electric-vehicle charging startup and the Calgary oil and gas company will jointly develop chargers for Esso and Mobil gas wholesalers, with the opportunity for gas stations to offer Flo chargers. (The Logic)
The crypto billionaire pitched a regulatory model for the industry in which participants are free to transfer crypto, run software infrastructure that validates transactions and write code without having to ask for permission—as long as they are not on a blacklist of sanctioned actors. (The Logic)
A release from the company, which offers a workforce-management platform, said the round was led by Walter Ventures with participation from Desjardins Capital and Investissement Québec. (The Logic)
The two companies offer software that helps landlords conduct background checks on prospective tenants and offer insurance if a tenant fails to pay rent. Terms of the deal were not disclosed. (The Logic)
The U.S.-based anode materials division of the battery technology company that was spun out of a Dalhousie University lab will receive a portion of the US$2.8-billion the U.S. energy department has earmarked for electric vehicle battery manufacturing. (The Logic)