Quebec government announces $150 million loan to “green” start-up factory
By William Crooks
The Government of Quebec, through Investissement Québec, is granting a partially forgivable loan of $150 million to Volta Canada Energy Solutions to support the establishment and start-up of a copper sheet manufacturing plant in Granby for the North American electric vehicle battery market. The Record attended the announcement Sept. 5 in Granby.
Quebec Premier, Mr. François Legault, joined by Pierre Fitzgibbon, Minister of the Economy, Innovation and Energy, Minister responsible for Regional Economic Development, and Minister responsible for the Greater Montreal area and the Montreal region, François Bonnardel, Granby’s Member of Parliament, Minister of Public Security, and Minister responsible for the Eastern Townships made the announcement Tuesday, accompanied by François-Philippe Champagne, the federal Minister of Innovation, Science, and Industry.
A press release sent out by the Quebec government stated the project is estimated at $750 million and anticipates the creation of 260 jobs. The copper sheets produced will be used in the manufacturing of anodes and integrated into battery cells for the electric vehicle sector. This new plant is expected to start in 2026 with a production capacity of 25,000 tons per year.
In his speech, Legault thanked everyone present and stated, “we have to go fast”, referring to the planned global switch to more sustainable energy over fossil fuels. He lauded Volta president Dr. Dejae Chin as a luminary in the technology industry.