Connect with us

Technology

MP Chahal announces federal investments to grow Alberta’s aerospace and aviation industry

Published

on

Over $4.3 million through PrairiesCan to manufacture and commercialize new technologies, connect small- and medium-sized firms with procurement opportunities, and create new career paths for underrepresented groups

EDMONTON, AB, Nov. 4, 2024 /CNW/ – With more than 500 small- and medium-sized businesses that employ thousands of workers, Alberta’s aerospace and aviation industry is playing a key role in diversifying local economies and creating good-paying jobs in communities across the province. The Government of Canada is collaborating with partners like post-secondary institutions, industry associations, municipalities and businesses to strengthen this important industry’s competitiveness.

Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, highlighted five projects receiving more than $4.3 million in PrairiesCan funding that are contributing to Alberta’s leadership in aerospace and aviation innovation. The projects include:

Over $186,000 for the Alberta Aviation & Aerospace Council to develop and deliver the Alberta Aerospace and Defence Conference in 2025 in Calgary and 2026 in Edmonton. This newly established in-person event will help connect Alberta’s small- and medium-sized firms with procurement and investment opportunities with global defence contractors.

Over $100,000 for Elevate Aviation to develop and launch a mentorship initiative that provides access to personalized mentorship connections, networking opportunities and professional development courses—ultimately leading to job placement opportunities for underrepresented groups while addressing the demand for skilled workers in in the aerospace and aviation industry.

Over $1.4 million for the Southern Alberta Institute of Technology (SAIT) to create an aerospace composite materials laboratory. Innovations that use advanced composite materials have the potential to enhance aircraft performance while reducing the environmental impact of the aviation sector. This new lab includes leading-edge manufacturing and testing equipment, as well as a team of expert researchers and engineers to support cutting-edge research in the aerospace manufacturing sector.

Over $50,000 for Sturgeon County to develop a report and ecosystem map on the Alberta’s aerospace and defence sector value chain. This project is better enabling the County and sector partners to identify and connect local small business suppliers to larger companies.

$2.6 million for UVAD Technologies Inc. for developing, demonstrating and commercializing an electric fixed-wing uncrewed aerial vehicle.  

In total, today’s investments are expected to benefit over 330 small- and medium sized businesses and support more than 360 jobs.

In line with the principles of the Government of Canada’s Framework to Build a Green Prairie Economy, these investments are about collaborating on local priorities and building on local strengths to seize opportunities for prosperity in a sustainable net-zero Prairie economy.

Quotes

“Municipalities, the private sector and post-secondary institutions are all part of the vital ecosystem for Alberta’s growing aerospace and aviation sector. Our government’s investments in these projects are helping empower cutting-edge research and commercialization, connecting local businesses to new markets, and breaking down barriers for underrepresented people seeking careers in this growing sector.”
–The Honourable Dan Vandal, Minister for PrairiesCan

“Alberta has a global reputation for excellence in aerospace and aviation thanks to the ingenuity, innovation and hard work of our small- and medium-sized businesses, innovators and talented workforce. Calgary Skyview is home to some of the best aerospace and aviation companies in Canada and are benefiting greatly from our government’s investments in the growing sector.”
George Chahal, Member of Parliament for Calgary Skyview

“Alberta’s aviation and aerospace industries have incredible potential, and the addition of defence to our conference will create critical connections and opportunities for businesses to grow within the global aerospace and defence market. Bringing industry stakeholders together under one roof will accelerate Alberta’s role in these sectors, driving innovation and investment in our province.”
Kendra Kincade, Chair, Alberta Aviation & Aerospace Council

“This investment enables us to expand our mentorship initiatives, opening doors for individuals who bring diverse perspectives, drive innovation, and strengthen the industry. By connecting participants with mentorship, networking, and professional development, we are setting the stage for a stronger, more inclusive future for aviation.”
Laura Sinclair, Chief Operating Officer / Chief Financial Officer, Elevate Aviation

“This significant investment in SAIT’s aerospace composite materials laboratory within our Applied Research and Innovation Services (ARIS) area positions Alberta at the forefront of sustainable aerospace innovation. Equipped with advanced technology and a skilled research team, this lab will drive new levels of performance and environmental responsibility across the aerospace sector. This project also aligns with SAIT’s plans to expand CIRAMM’s newly established Alberta Aerospace Research Centre (AARC), advancing Alberta’s aerospace capabilities and elevating Canada’s standing in this critical industry.”
–Dr. Hamid Rajani, Chair of CIRAMM – Centre for Innovation and Research in Advanced Manufacturing and Materials at ARIS

“Sturgeon County is ideally situated near three army and two Royal Canadian Air Force bases, the epicenter of Alberta’s aerospace and defence sectors. Defining the skills, knowledge and expertise within the aerospace and defence ecosystem will help us attract further investment into our region. We’re thankful for PrairiesCan support, and are already seeing the benefits from this work as we engage in conversations with potential investors.”
Alanna Hnatiw, Mayor of Sturgeon County

“Funding received by UVAD Technologies Inc. through PrairiesCan and the Aerospace Regional Recovery Initiative is critically important to our efforts in developing and commercializing an industry leading Uncrewed Aircraft Vehicle (UAV) on a global scale. The Alpine Swift, UVAD’s all-electric UAV, has progressed significantly through the support of this program. Government support has also enabled Southern Alberta to attract world leading experts in the UAV field, and UVAD is strategically positioned to build on this expertise. UVAD has grown exponentially since establishing our facility in Medicine Hat, Alberta.”
David Birkett, President and CEO, UVAD Technologies Inc.

Quick facts

Federal funding for these projects is being provided through PrairiesCan, the federal department that supports economic growth in Alberta, Saskatchewan and Manitoba.The total federal investment of $4,350,160 announced today is allocated through three programs administered by PrairiesCan: the Aerospace Regional Recovery Initiative (ARRI), the Community Economic Development and Diversification (CEDD) program, and the Regional Innovation Ecosystems (RIE) program. ARRI is a national program that is providing $250 million over three years to help the Canadian aerospace sector emerge from the pandemic and continue to compete on the global stage and the intake period is now closed.CEDD supports economic development initiatives that contribute to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances.RIE creates, grows and nurtures inclusive regional ecosystems that support what businesses need to innovate from start to finish and an environment where companies can innovate, grow and compete.The Framework to Build a Green Prairie Economy is a long-term commitment to work differently, through stronger coordination among federal departments on investments for the Prairies and closer collaboration with Prairie partners on their priorities for a prosperous and sustainable Prairie economy.

Associated links

Prairies Economic Development Canada (PrairiesCan) Aerospace Regional Recovery Initiative (ARRI)Community Economic Development and Diversification (CEDD) programRegional Innovation Ecosystems (RIE) programThe Framework to Build a Green Prairie Economy

Stay connected
Follow PrairiesCan on X (formerly Twitter) and LinkedIn
Toll-Free Number: 1-888-338-9378 
TTY (telecommunications device for the hearing impaired): 1-877-303-3388

SOURCE Prairies Economic Development Canada

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Hexagon Composites ASA: Eirik Løhre appointed permanent CFO

Published

on

By

OSLO, Norway, May 5, 2026 /PRNewswire/ — Reference is made to the stock exchange announcement dated 11 November 2025, where Eirik Løhre was appointed interim CFO in Hexagon Composites.

The Company is pleased to inform that Eirik Løhre has been appointed permanently to the role of CFO in Hexagon Composites, effective today.

Eirik Løhre has been with the Company since 2021 and prior to his role as interim CFO, he served as EVP Corporate Development on the Executive Team.  

“Eirik has demonstrated strong financial leadership and execution, and he has been instrumental in strengthening our financial performance. I look forward to continuing our work together to develop and position Hexagon in this next phase of growth,” said Philipp Schramm, CEO, Hexagon Composites. 

For more information:
Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Tel: +47 988 92 161, berit-cathrin.hoyvik@hexagongroup.com

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility and industrial applications. Learn more at www.hexagongroup.com and follow @HexagonASA on LinkedIn.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/hexagon-composites-asa/r/hexagon-composites-asa–eirik-lohre-appointed-permanent-cfo,c4344308

 

View original content:https://www.prnewswire.co.uk/news-releases/hexagon-composites-asa-eirik-lohre-appointed-permanent-cfo-302762250.html

Continue Reading

Technology

LONGPORT Whale Enters Malaysian Market with Next Generation Trading Infrastructure for Local Brokerages

Published

on

By

LONGPORT Whale, with proven track record across 100+ institutional clients in Asia, makes its Malaysia debut at Bursa Malaysia Stockbroking Trade Fair 2026

KUALA LUMPUR, Malaysia, May 5, 2026 /PRNewswire/ — LONGPORT Whale, a provider of AI-Ready securities trading infrastructure, is making its entry into the Malaysian market at the Bursa Malaysia Stockbroking Trade Fair 2026. The move comes as Malaysia’s Capital Market Masterplan 2026–2030 (CMP4) continues to hone in on local brokerages to modernise core systems, balancing investor experience, regulatory compliance, and operational resilience simultaneously.

Malaysian brokerages are increasingly confronted by a challenge that goes beyond front-end upgrades. Legacy architectures struggle to keep pace with digital-native investor expectations, rising cybersecurity standards, and the demand for multi-market expansion simultaneously. For many such brokerages, the question is no longer whether to modernize, but how to do so without adding complexity or disrupting the business continuity that clients depend on.

Zhong Hua, CEO, LONGPORT Whale, said, “Core trading infrastructure must support continuous evolution — in investor experience, compliance, and AI readiness — without adding unnecessary complexity. The brokerages that lead the next decade won’t be the ones with the best system today; they’ll be the ones whose systems are designed to keep getting better. LONGPORT Whale aims to bring its Asia-proven experience to help Malaysian brokers strike that balance.”

Built on a cloud-native microservices architecture and trusted by more than 100 institutional clients in Asia, Whale’s platform is engineered by industry professionals and refined through years of first-hand operational experience. For the Malaysian market, it addresses four priorities: a best-in-class trading experience validated across competitive, highly regulated markets in Asia; system resilience and performance built for institutional scale, with high system performance and output, real time risk management, and low system latency; global market connectivity spanning Malaysia, Singapore, Hong Kong SAR, US, and Japan without requiring system rebuilds; and an API-first, data-unified architecture that gives brokerages a practical foundation for AI adoption.

Hong Kong SAR and Singapore, where Whale serves online brokers, traditional banking firms, banks and wealth management institutes in a stringent regulatory environment, serve as the primary reference market for its Malaysia expansion. The company said it aims to work with local industry participants as both an infrastructure partner and a contributor to broader conversation on responsible modernization under CMP4.

About LONGPORT Whale

LONGPORT Whale provides integrated securities trading infrastructure to brokers, banks, fund houses, wealth managers, and family offices across Asia. Its cloud-native platform supports multi-market, multi-asset trading across front-, middle-, and back-office workflows, with a deployment model designed for regulatory alignment and long-term scalability. Website: www.longportwhale.com

Media Contact
LONGPORT Whale PR Team
Email: media@longportwhale.com

View original content:https://www.prnewswire.com/apac/news-releases/longport-whale-enters-malaysian-market-with-next-generation-trading-infrastructure-for-local-brokerages-302761411.html

SOURCE LONGPORT Whale

Continue Reading

Technology

Thunes and Vodacom Tanzania Unite to Power Cross-Border M-Pesa Payments Across China and Uganda

Published

on

By

Collaboration revolutionises trade & financial convenience for Tanzanian merchants and consumers

SINGAPORE, May 5, 2026 /PRNewswire/ — Thunes, the Smart Superhighway to move money around the world, has joined forces with Vodacom Tanzania, the country’s leading telco company, to transform cross-border trade and digital financial inclusion with Vodacom’s new M-Pesa Global Payment solution. Thanks to the collaboration, Vodacom customers in Tanzania can now seamlessly pay merchants in Uganda and China directly from their mobile phones.

This milestone solution responds to growing demand from Tanzanian traders who engage in commerce with Ugandan and Chinese markets but often face challenges with costly, slow, and insecure payment methods. With this innovation, leveraging the Thunes Direct Global Network, Vodacom aims to bridge those gaps, offering secure, real-time digital payments across borders and reinforcing its leadership in mobile money innovation in Africa.

The solution supports trade with two key markets for Tanzania. For eight consecutive years, China has been Tanzania’s largest trading partner, with bilateral trade hitting $8.8 billion in 2024. In the same year, bilateral trade between Tanzania and Uganda reached approximately $2.23 billion, an increase of 64% on the previous year.

Epimack Mbeteni, M-Pesa Director at Vodacom Tanzania said: “This is more than just a payment feature, it is a catalyst for economic empowerment and a gateway for small and medium businesses and entrepreneurs in Tanzania to compete and thrive in regional and global markets. Through Thunes’ expansive and trusted Network we are enabling seamless, secure, and affordable cross-border payments that empower people, fuel trade and place M-Pesa at the center of Africa’s digital commerce future.”

Through Thunes’ Direct Global Network, customers can now send payments to merchants in Uganda using MTN MoMo and to Chinese merchants through the Alipay network, all through the M-Pesa USSD menu or the M-Pesa Super App. The process is secure, user-friendly, and eliminates the burden of traditional banking barriers for everyday traders and businesses.

Dawei Wang, SVP Network at Thunes, added: “Vodacom Tanzania joining the Thunes Direct Global Network to digitise cross-border payments is a game changer for local businesses. By combining Vodacom’s technology with Thunes’ trusted and proprietary Network, Tanzanian customers can pay partners in China and Uganda in real time. This innovation accelerates interoperability along with international trade and business growth and supports our vision of connecting the next billion end users to the global economy.”

This initiative stands as a strategic enabler for consumers and micro, small, and medium enterprises (MSMEs) who need reliable and quick financial tools such as mobile money. A 2025 GeoPoll survey on Tanzania Financial Services and Usage found that 94% of the survey’s respondents use mobile money.

The Thunes and Vodacom Tanzania alliance is set to transform the lives of millions of consumers by dismantling cross-border barriers. By hyper-connecting Tanzania to global powerhouses like China and streamlining intra-African trade, the collaboration is helping to build an inclusive economy and grow Tanzania’s role as a force in the global market.

About Vodacom Tanzania

For more information, visit: https://www.vodacom.co.tz/

About Thunes

For more information, visit: https://www.thunes.com/

Logo – https://mma.prnewswire.com/media/2831061/Thunes_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/thunes-and-vodacom-tanzania-unite-to-power-cross-border-m-pesa-payments-across-china-and-uganda-302760085.html

Continue Reading

Trending