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The Government of Canada announces significant investment to strengthen Canada’s electricity and forest products supply chains

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Investment will support Hitachi Energy’s new transformer insulation factory, Canada’s first pressboard manufacturing facility

LONDON, ON, Oct. 16, 2026 /CNW/ — Today, the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, announced a total federal investment of $30 million in Hitachi Energy Canada Inc., supporting a $478.8 million dollar project to establish Canada’s first electrical-grade pressboard manufacturing facility in London, Ontario.

As growing power demand is being driven by grid modernization, electrification, renewable energy deployment and data centre expansion, the federal government is investing to position Canada as a strategic supplier within North America’s energy infrastructure supply chain and abroad. At the same time, it is supporting Canadian forest products amid unjustified tariffs and changing global pressures and the industry more broadly as it modernizes and transforms for long-term competitiveness.

The federal investment includes $20 million through the Strategic Response Fund and $10 million through the Investments in Forest Industry Transformation program. This investment will help Hitachi Energy implement innovative manufacturing technologies and automation in a state-of-the-art facility to enhance production efficiency and turn wood fibre into up to 20,000 tonnes annually of electrical-grade pressboard and laminated insulation materials for high-voltage transformers. The investment will not only strengthen domestic supply chain capabilities but also support the growth and competitiveness of Canada’s forest sector by creating new markets for Canadian forest products.

This project will generate significant economic benefits for Canadians. As part of its commitment to growth in Canada, Hitachi Energy will maintain its existing workforce of approximately 1,250 employees and grow its Canadian workforce to 1,765 employees. This includes the creation of more than 100 new jobs at its London facility. It will also create new business opportunities for domestic suppliers, including Canada’s forest products sector, by sourcing key inputs for transformer insulation materials locally.

The facility will be the first of its kind in Canada and will supply Hitachi Energy’s transformer manufacturing operations in Varennes, Quebec, and other transformer and insulation manufacturers in North American and global markets. The federal investment in Hitachi Energy’s project is advancing the National Electricity Strategy’s goals of building at scale and taking concrete steps to bolster Canada’s energy security by strengthening our domestic grid and power capacity with clean, affordable and reliable energy for generations to come. The project also advances the federal government’s efforts to support Canada’s forest products sector as it pivots to grow, including through the upcoming forest sector strategy. The strategy–the first ever for the sector led by the federal government–will focus on creating new opportunities for Canadian forest products, supporting advanced manufacturing and innovation, and strengthening domestic value chains that connect Canada’s forest sector to growing markets.

In a more complex and unpredictable world, the Government of Canada is investing strategically to build clean, affordable and reliable energy systems, create new market opportunities for domestic suppliers and support sustainable growth in the forest sector.

Quotes

“Canada is strengthening its electricity system to build a more connected, reliable and efficient grid. By investing in the critical infrastructure needed to power our future, we are supporting economic growth, creating well-paying jobs and strengthening Canada’s economic security. Our government’s investment in Hitachi Energy, along with the National Electricity Strategy, will deliver real results and help secure Canada’s energy future.”

– The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions

“This project demonstrates that there are high-value opportunities for forest products in critical energy infrastructure. By supporting innovative projects like this one, we are supporting Canadian manufacturing, strengthening Canada’s electricity supply chains and opening new markets for forest products. This project will help build a stronger and more resilient Canadian economy while advancing the visions set out in the National Electricity Strategy and the upcoming federal forest sector strategy.”

– The Honourable Tim Hodgson, Minister of Energy and Natural Resources

“In the face of global economic uncertainty, our government continues to foster the competitive conditions needed for global companies to confidently expand their presence in Ontario and invest in long-term projects. We are proud to stand as a partner to Hitachi Energy’s latest investment, which will create new, high-value jobs for local workers and further position Ontario as a central hub for advanced manufacturing projects powering the economy and future.”

– The Honourable Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade

“London has long been a city of builders, innovators and skilled workers, and today’s announcement reinforces that proud tradition. This investment in Hitachi Energy’s new facility will create opportunities for local families, strengthen Canada’s energy infrastructure, and position our community at the forefront of the clean economy of the future. I am excited to welcome this investment to London and look forward to the benefits it will bring to our region for years to come.”

– The Honourable Arielle Kayabaga, Deputy Government House Leader and Member of Parliament for London West

“This investment is a significant milestone for London and an important step forward for Canada’s economy. By establishing Canada’s first electrical-grade pressboard manufacturing facility in our city, we are creating local opportunities, supporting skilled jobs and strengthening London’s manufacturing sector. Nationally, this project will bolster domestic supply chains, open new markets for Canadian forest products and help position Canada as a competitive leader in advanced manufacturing and energy infrastructure.”

– Peter Fragiskatos, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship and Member of Parliament for London Centre

“Today’s announcement marks a significant step forward for Canadian manufacturing and our country’s energy future. By establishing Canada’s first pressboard manufacturing line here in London, we are bringing a critical capability closer to home, strengthening domestic supply chains and supporting the infrastructure needed to meet growing electricity demand. This investment reflects our long-term commitment to Canadian industry, talent and innovation in an electric economy.”

– Carla Vicente, Country Managing Director, Canada, Hitachi Energy Canada Inc.

Quick facts

Hitachi Energy Canada Inc. is a federally incorporated corporation and a subsidiary of Hitachi Energy, based in Switzerland. Hitachi Energy operates in more than 60 countries and employs approximately 50,000 people worldwide. Its customers include electric utilities, industrial operators, renewable energy developers, transportation providers and data centre operators.Hitachi Energy Canada develops and supplies transformers, high-voltage equipment, grid automation systems, grid integration solutions and related services for utility, industrial, transportation, renewable energy and infrastructure customers.The Strategic Response Fund helps Canadian industries innovate, adapt and compete in a changing global economy. It supports large-scale, transformative projects that build economic resilience, strengthen supply chains and protect good jobs in key sectors such as steel, aluminum, automotive, forest products, artificial intelligence and advanced technologies.The IFIT program accelerates the adoption and commercialization of transformative technologies in Canada’s forest sector, improving competitiveness and sustainability while diversifying revenue streams. This includes supporting innovative pulp and paper products that replace non-renewable materials, improving fibre efficiency, scaling up mass timber and prefabrication, and strengthening domestic housing production and supply chain resilience.

Associated links

Strategic Response FundInvestments in Forest Industry TransformationHitachi Energy in CanadaCanada’s clean electricity future Draft Action Plan to Transform Canada’s Forest SectorCanada to invest in cutting-edge technology to modernize Canadian forest sector

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SOURCE Innovation, Science and Economic Development Canada

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Canada to advance global nature conservation and climate action at upcoming United Nations conferences

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OTTAWA, ON, Oct. 16, 2026 /CNW/ — In a more uncertain and increasingly unstable world, Canada is stepping up to build a safer and more resilient future. Addressing climate change and biodiversity loss requires ambitious action at home and around the world. By advancing progress on both, Canada will protect nature, build resilient communities, and create lasting prosperity for future generations. International cooperation is key to achieving these goals.

That is why the Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature, will lead Canada’s efforts as Head of Delegation at the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17) and the 31st meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31).

At COP17, Minister Dabrusin and the Honourable Nathalie Provost, Secretary of State (Nature), will work with international partners to accelerate implementation of the Kunming–Montréal Global Biodiversity Framework. From October 19 to 30, 2026, in Yerevan, Armenia, Canada will champion the critical role of Indigenous peoples in conservation and advocate for practical solutions to mobilize global resources for biodiversity finance. Canada will showcase its leadership through two Canadian-led official side events focused on innovative nature finance and the essential role of Indigenous leadership in advancing conservation efforts at home and around the world. The delegation will also take part in strategic bilateral meetings, high-level roundtables, and civil society events to strengthen cooperation, advance solutions, and drive action to halt and reverse biodiversity loss.

From November 9 to 20, 2026, in Antalya, Türkiye, Canada will participate in the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31). Building on multilateral engagements, including the 10th Ministerial on Climate Action, Canada will continue working with international partners, Indigenous representatives, civil society, youth, and other stakeholders to strengthen the resilience of vulnerable communities; reduce methane emissions; accelerate electrification; and mobilize finance and investments from public and private sources. For the fifth consecutive year, Canada will host a national pavilion at COP31, showcasing Canadian climate leadership and innovation. The Canada Pavilion will serve as a hub for connection and collaboration.

Canada’s international leadership is backed by action at home. To accelerate electrification, Canada is building major clean energy projects across the country, including with the largest clean energy investment in North American history in Churchill Falls. Through A Force of Nature: Canada’s Strategy to Protect Nature and $3.8 billion in investments and funding, Canada is advancing its commitment to conserve 30% of lands and waters by 2030 through strong partnerships and innovative approaches to conservation. Canada recently reinforced this commitment by joining the 30×30 for Nature and People Ministerial Declaration at the 81st session of the United Nations General Assembly. Prime Minister, Mark Carney, recently announced a historic investment of $1.2 billion to better protect Canada’s oceans and the life they sustain. This will increase monitoring, strengthen ocean science and ecosystem protections, and improve marine incident prevention and preparedness. These priorities will be a key focus at both upcoming conferences.

Canada’s delegations to COP17 and COP31 will bring together the diverse perspectives from across Canadian society, including Indigenous representatives, civil society, the private sector, youth, and provincial and territorial government representatives. Working with international partners, these delegations help advance practical solutions to protect nature, strengthen resilience, and support sustainable economic prosperity.

Quotes

“Climate change and biodiversity loss are global challenges that no country can solve alone. At COP17 and COP31, Canada will work with partners from around the world to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework and the Paris Agreement and collective efforts to address nature protection and climate change. Through international cooperation, Indigenous leadership, innovative solutions, and a collective commitment to conservation and climate action, we will build a sustainable future for people and nature alike.”
– The Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature

“Nature loss is a global challenge that requires countries to work together and turn shared commitments into action. At COP17, Canada will share its experiences in advancing nature finance, including innovative approaches to valuing natural capital and mobilizing private investment for conservation. By exchanging ideas, lessons learned, and practical solutions with international partners, we can accelerate progress toward our global biodiversity goals and recognize nature as a foundation of long-term economic prosperity and resilience.”
– The Honourable Nathalie Provost, Secretary of State (Nature)

Quick facts

As the second largest country in the world, Canada has a vast amount of natural capital, including 24% of the world’s boreal forest, 37% of lakes, 25% of wetlands, and approximately 80,000 species. We have both a responsibility to steward these resources as well as a competitive advantage because of these assets.Canada hosted the 15th meeting of the Conference of the Parties to the United Nations Convention on Biological Diversity (COP15) in Montréal in 2022, which resulted in the adoption of the Kunming–Montréal Global Biodiversity Framework: an ambitious global plan to halt and reverse biodiversity loss by 2030.Canada supports the Armenian COP17 presidency and its approach to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework toward meeting the Framework’s goals and targets.In September 2026, Canada and China co-chaired the Kunming Dialogue in Kunming, China. The Dialogue was a multilateral working-level meeting to discuss progress and challenges in the implementation of the Framework ahead of COP17.The Canada Pavilion at the United Nations Conference of the Parties (COP) is a key space to show Canadian climate leadership and innovation.Reducing methane emissions remains one of the fastest and most cost-effective ways to limit the rise of near-term global temperatures. Canada serves as co-convenor of the Global Methane Pledge, which counts 159 participating countries and the European Commission, with participants agreeing to take voluntary actions toward a collective goal of reducing global methane emissions at least 30% by 2030 (from 2020 levels).In April 2026, Canada announced a new goal of delivering $13 billion in international climate finance over the next five years.

Associated links

A Force of Nature: Canada’s Strategy to Protect NaturePrime Minister Carney Announces Historic Investment to Protect Canada’s OceansCanada Pavilion at the Conference of the Parties (COP)

Environment and Climate Change Canada’s X page
Environment and Climate Change Canada’s Facebook page
Environment and Natural Resources in Canada’s Facebook page
Environment and Climate Change Canada’s LinkedIn page
Environment and Climate Change Canada’s Instagram page

SOURCE Environment and Climate Change Canada

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DGEN TECHNOLOGIES (FORMERLY CHINA KELI ELECTRIC COMPANY) COMPLETES ACQUISITION AND NAME CHANGE AND FILES CSE LISTING STATEMENT

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VANCOUVER, BC, Oct. 16, 2026 /CNW/ — DGEN Technologies Corp. (formerly China Keli Electric Company Ltd.) (the “Company”) is pleased to announce that it has completed its previously announced acquisition of DGEN Financial Holdings Corp. (formerly DGEN Technologies Corp.) (“DGEN”) pursuant to a share exchange agreement dated December 9, 2025, as amended on August 17, 2026 (the “SEA”) on October 14, 2026 (the “Transaction”).

Pursuant to the Transaction, the Company acquired all of the issued and outstanding shares of DGEN in exchange for the issuance of an aggregate of 9,550,360 common shares of the Company (“Common Shares”) and 7,000,360 Common Share purchase warrants (“Warrants”) to certain former shareholders of DGEN. Each Warrant entitles the holder to acquire one Common Share at a price of $0.25 until October 14, 2028. As a result of the Transaction, DGEN became a wholly-owned subsidiary of the Company. As of the date hereof, the Company has 29,161,364 Common Shares and 7,000,360 Warrants issued and outstanding.

In connection with the completion of the Transaction, the Company changed its name from “China Keli Electric Company Ltd.” to “DGEN Technologies Corp.” and, hereinafter, will carry on the business of DGEN.

Listing Statement

Following the closing of the Transaction, the Company has filed a CSE Form 2A listing statement dated October 14, 2026 (the “Listing Statement”) on SEDAR+ under its profile relating to the Transaction and the proposed CSE listing. Investors are encouraged to review the Listing Statement, which provides detailed information about the Transaction, the Company and its operations.

The Company has received conditional approval to list the Common Shares on the Canadian Securities Exchange (the “CSE”) and has delisted the Common Shares from the TSX Venture Exchange in anticipation of listing on the CSE. The Common Shares are expected to commence trading on the CSE under the symbol “DGEN” on or about October 20, 2026.

Board of Directors and Management

Following completion of the Transaction, the directors and officers of the Company are Cole Goodwin, Chief Executive Officer and Director, Philip Lo, Chief Financial Officer, Corporate Secretary and Director, Sean Webster, Director, and Yee Man Cheung, Director.

Mr. Goodwin is a business executive with over 10 years of experience in alternative and traditional investment markets, financial technology and corporate operations. His experience includes senior management and board roles with publicly traded companies, including as Chief Operating Officer of Hyper Bit Technologies Ltd. Mr. Goodwin provides the Company with strategic and operational oversight in respect of its technology platform, including development and commercialization of payment infrastructure, integration of payment gateways, technology deployment and vendor management.

Escrow

At the time of listing, the Company will have 2,496,000 Common Shares and 1,000,000 Warrants held by related persons subject to escrow pursuant to an escrow agreement dated October 14, 2026 among the escrowed securityholders, the Company and Odyssey Trust Company, as escrow agent, subject to a 36-month release schedule pursuant to National Policy 46-201 – Escrow for Initial Public Offerings.

About DGEN Technologies Corp.

DGEN Technologies Corp. is a Vancouver-based technology company developing a cloud-based payment platform intended to integrate point-of-sale, kiosk and mobile payment systems into a unified and scalable solution. The Company’s platform is currently in beta stage and is operational, but has not yet been commercialized or generated revenue.

The CSE has not reviewed, approved, or disapproved, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including, without limitation, statements with respect to: the expected listing of the Common Shares on the CSE; the satisfaction of any remaining conditions to listing; the business and operations of the Company following completion of the Transaction; the Company’s platform, including its development, commercialization, functionality, market adoption and ability to generate revenue; the Company’s intended business objectives; the escrow arrangements applicable to certain Common Shares and Warrants; and future plans and expectations of the Company. Forward-looking information is based on management’s current expectations, estimates, projections, beliefs and assumptions as of the date of this news release.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the possibility that the Common Shares may not commence trading on the CSE when expected or at all; risks relating to the Company’s early stage of development; the fact that the platform is in beta stage, has not yet been commercialized and has not generated revenue; risks associated with development, commercialization and market adoption of the platform; competition from established payment technology providers; reliance on third-party contractors and service providers; additional financing and dilution risks; market volatility; regulatory, compliance, cybersecurity and data privacy risks; risks relating to escrowed securities; and the other risks described in the Listing Statement. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE DGEN Technologies Corp.

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ASSA ABLOY sells PKI business unit to Vista Equity Partners

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STOCKHOLM, Oct. 16, 2026 /PRNewswire/ — ASSA ABLOY has signed an agreement to sell HID’s PKI business unit to Vista Equity Partners (“Vista”).

The PKI business unit (Public Key Infrastructure) provides digital trust, identity, authentication, encryption, and certificate management solutions. The business unit includes PKI SaaS – IdenTrust and HydrantID – credential management, and ZeroSSL.

“I find it very satisfying that with Vista, the PKI business unit and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Our PKI team has built a strong business with a strong customer base, and Vista has the expertise to take it forward as the market evolves,” says Björn Lidefelt, EVP and Head of HID. “We are pleased with this outcome for our customers, our employees, and for HID.”

The divested business had sales in 2025 of MUSD 58 (approx. MSEK 570) with a strong operating margin.

The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2026.

For more information, please contact: 
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY
ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 64,000 employees and sales of SEK 152 billion, with leading positions in areas such as efficient door openings, trusted identities and entrance automation. Our innovations enable safe, secure and convenient access to physical and digital places.

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

https://news.cision.com/assa-abloy/r/assa-abloy-sells-pki-business-unit-to-vista-equity-partners,c4410007

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