Power transformers manufacturer receives financial boost for clean tech upgrades
Vaughan manufacturer receives funding to adopt innovative clean technology, scale up production and create more than 30 skilled jobs
Toronto – Power transformers manufacturer Northern Transformer Corporation is getting a $3-million boost through the FedDev Ontario.
The company, which is based in Vaughan, Ont., plans to adopt innovative clean technology, scale up production and create more than 30 skilled jobs, according to an announcement made by Deborah Schulte, MP for King–Vaughan, on behalf of FedDev Ontario.
The financial contribution will allow NTC to retrofit its 105,000-square-foot facility with new, state-of-the-art equipment and to adopt first-in-Ontario “vapour phase drying” technology in its manufacturing processes.
This clean technology offers significant energy savings and the efficient removal of humidity, which means the company’s next-generation power transformers will work more efficiently, noted the company.
NTC expects to create 32 new skilled manufacturing and engineering jobs in Vaughan, and expects to purchase over $140 million in materials over the next decade from local supply chain partners across southern Ontario.
The company’s power transformers are used by energy infrastructure clients in the utilities, renewable energy and industrial markets, including such clients as Hydro One, Fortis, Alectra Utilities and Next Era Energy Resources.
FedDev Ontario’s repayable contribution of up to $3 million is towards NTC’s total project cost of nearly $11.7 million.