Canada to end overseas funding for fossil-fuel projects
The Canadian government is one of at least 25 countries and public finance institutions that pledged to stop financing the sector outside their borders by the end of 2022. (The Logic)
The Canadian government is one of at least 25 countries and public finance institutions that pledged to stop financing the sector outside their borders by the end of 2022. (The Logic)
Innovation Minister François-Philippe Champagne said U.S. officials have been made aware that “legislation like that would generate a response on the Canadian side.” (Reuters)
The San Francisco-based company, which also has offices in Montreal and Kampala in Uganda, plans to use the funds to build an artificial intelligence platform that allows clients to manage every stage of the process. (The Logic)
The autonomous vehicle company is manually mapping New York City and a small part of New Jersey to document “busy traffic and unique geometric features,” and will use the insights to predict drivers’ actions in other dense urban areas. (The Logic)
The Ottawa company said the federal police service will be the first customer for its “Machine Trust Platform,” a framework for tracking an organization’s use of artificial intelligence and measuring it against global and domestic standards. NuEnergy.ai’s CEO Niraj Bhargava said in a release the company will devise a custom tracker for the RCMP. (The Logic)
Shares in Toronto-based E Automotive reached a daily high of $26.06 before falling back to $23, its offering price. Meanwhile, Kitchener-based D2L’s rose slightly in their respective first days of trading. (The Logic)
More than 59 per cent of voters in Tuesday’s referendum said “yes” to a question asking whether to ban electric-transmission line construction, and require similar projects to seek legislators’ approval—with even stricter standards for projects on public land. (Bangor Daily News)
The federal agency’s loan backs $1.4 billion worth of shared heating and cooling projects in Toronto and neighbouring Mississauga. The company, partly owned by the Ontario Teachers’ Pension Plan, said the money will help it invest in greener tech such as systems that recover heat from waste water and use it to heat buildings connected to shared climate-control plants. (The Logic)
With three satellites in orbit and plans for another seven thanks to the money from Sustainable Development Technology Canada, GHGSat said its images tracking the potent greenhouse gas will feed high-quality data to the UN’s International Methane Emissions Observatory. (The Logic)
Small businesses issue employees corporate cards via the fintech firm, then use its software to automatically track expenses and manage spending. Other backers include Toronto’s Golden Ventures, Waterloo, Ont.-based Garage Capital and San Francisco-based Susa Ventures, as well as scale-up executives Michael Katchen (Wealthsimple) and Kirk Simpson (Wave). Tiny Capital, an investor in The Logic, also participated in the round. (The Logic)