Aviation simulation firm CAE gets $250M federal loan for technology development
Massive Industry Canada loan provided through federal Strategic Aerospace and Defence Initiative
MONTREAL—Industry Canada is lending aviation simulation firm CAE $250-million as the Montreal-based company looks to expand its suite of modelling and simulation technologies.
Made through its Strategic Aerospace and Defence Initiative (SADI), the Industry Canada loan will go to CAE’s Project Innovate, a five-and-a-half-year research and development program that will see the company work to develop next-generation simulation platforms for both the civil and defence aviation markets.
“By supporting and nurturing innovation in the aerospace industry through the SADI program, the government helps maintain and grow highly skilled jobs in Canada,” CAE president and chief executive Marc Parent said in a statement.
“Innovation is in CAE’s DNA and it has allowed us to become a leader in our civil aviation and defence markets.”
CAE said one initiative under Project Innovate will see it create a state-of-the-art modular simulation system that will be more efficient and easier to deploy and maintain.
The company said it also plans to develop technologies and training solutions geared towards joint and networked operations in order to be a training systems integrator in air, sea and land platforms.
“This support will help CAE to reinforce its position as a global leader in its field,” Industry Minister James Moore said in a ministry statement.
“This project will allow the company to maintain and grow its presence in Canada while also benefiting CAE’s vast network of Canadian collaborators, including universities, research institutions and suppliers.”
CAE said it will carry out Project Innovate in Canada.