Murray Wood: Who's hot... and who's not
Every Friday, Murray Wood takes a look at the week's news and decides who's hot... and who's not. This week's list inclu...
VANCOUVER — The federal government says it’s pumping nearly $100 million into two B.C. firms to support the construction of a hydrogen fuel facility and two “cutting-edge biomanufacturing facilities” for vaccines and other treatments.
The Ministry of Innovation, Science and Industry says North Vancouver-based HTEC, a hydrogen energy firm, is getting $49 million toward a facility that turns “industrial byproduct hydrogen” into fuel.
The ministry says the facility is part of the company’s plan to create a hydrogen fuel station network between B.C. and Alberta, which has also received support from the provincial government and a sizable loan from the Canada Infrastructure Bank last year.
Industry Minister Anita Anand also announced a $49.9-million investment in Burnaby-based STEMCELL Technologies, which will go toward two new biomanufacturing facilities to ramp up production of “specialized inputs that are critical to the development and manufacturing of vaccines, therapies and diagnostics.”
Dr. Allen Eaves, the company’s founder, says the funding will help fill “a gap in the raw materials required for large-scale manufacturing of vaccines” and other biotechnology products.
The industry ministry says the funding is from the federal Strategic Innovation Fund.
This report by The Canadian Press was first published March 19, 2025.
The Canadian Press
