Investing in public transit infrastructure strengthens communities, reduces commute times for Canadians, helps connect people to affordable housing, and helps fight climate change. That is why the Government of Canada is making smart investments in public transit that will create and support good middle class jobs, and help us build back for a cleaner, better future.
The Prime Minister, Justin Trudeau, today announced up to $1.3 billion in federal funding toward the Surrey Langley SkyTrain extension project. The Province of British Columbia and its partners will fund the remainder of the costs for the project.
The Surrey Langley SkyTrain extension project will support an area with a fast-growing population representing 25 per cent of the population of Metro Vancouver, help improve public transit accessibility for residents and businesses south of the Fraser River, connect more people to housing, employment, and schools, and encourage greater development around SkyTrain stations. The project will also create approximately 3,000 full-time, well-paying middle class jobs.
The Surrey Langley extension will connect growing Surrey neighbourhoods, the Township of Langley, and the City of Langley to Surrey Centre and the regional SkyTrain network. The project includes 16 kilometres on an elevated guideway from King George SkyTrain Station to Langley City Centre along Fraser Highway. It also includes eight stations, three bus exchanges, park and ride spaces, 30 SkyTrain cars, an operations and maintenance centre, and supporting system upgrades. This new transit route will provide residents with an average commute time of 22 minutes, which is more than 25 minutes faster than the current bus route. The proposed extension is projected to serve 62,000 daily riders in 2035 and grow to 71,200 riders in 2050. Approximately 24,000 to 30,000 of these riders are expected to switch to transit from other modes of transportation.
The Prime Minister also announced that the Government of Canada is committed to funding up to 40 per cent of eligible costs toward future planning and business case development for a proposed extension of the Millennium Line from Arbutus Station to the University of British Columbia (UBC). This project will better connect students, employees, and residents who travel between UBC and other parts of Metro Vancouver with a high speed and frequent SkyTrain service, reducing travel time between Commercial-Broadway and UBC for riders by more than 20 minutes per trip. As one of the largest employers in the region with world-class health services and an emerging innovation and research hub, UBC will require fast, frequent transit service to meet the needs of students, faculty, and staff who travel there each day from across the region.
Reliable, modern public transit is the foundation of strong communities where Canadians live, work, and play. It creates jobs, cuts pollution, and builds a strong middle class. That is why, since 2015, the Government of Canada has invested over $4.3 billion in more than 550 infrastructure projects across British Columbia under the Investing in Canada Plan, and will continue to invest in the future of our communities from coast to coast to coast.
“By continuing to invest in major public transit projects, we’re shortening commutes, creating well-paying, middle class jobs, growing the economy, fighting climate change, and helping make life easier and more affordable for people in British Columbia and across Canada. As we do what it takes to build a recovery from COVID‑19 that works for everyone, we will keep focusing on improving the quality of life of Canadians and building back a healthier, stronger, and more competitive Canada.”
“Investing in public transit is at the heart of a clean and inclusive recovery. That’s why the Government of Canada is funding up to $1.3 billion for the Surrey Langley SkyTrain extension to Langley City Centre, which will reduce commute times by 25 minutes while helping residents get around in cleaner and more affordable ways. We’re also providing up to 40 per cent of the eligible planning costs to extend the Millennium Line to the UBC campus from Arbutus Station, improving access for students, workers, and Indigenous-owned developments and communities. These important projects will help get more cars off the road, create good jobs and grow the economy, and build more inclusive communities.”
“Whether people are commuting to work, going to school, or safely coming back together with family and friends, it’s critical that we provide the better, faster transit options that British Columbians deserve. We’re pleased to be making record investments in infrastructure, creating thousands of jobs, and this partnership with the federal government will help keep people moving while we build a strong recovery that benefits everyone.”
“Investment in our infrastructure has never been more important as we work together to recover from COVID-19. The populations of Surrey, Langley, and other Fraser Valley communities are growing quickly, and we must build infrastructure to meet the needs of those families. We thank the Government of Canada for joining the Province on our commitment to Surrey Langley SkyTrain and we are excited to move forward on this important transportation project which will serve people for years to come.”
“Today is a tremendous day for Surrey. As one of the fastest growing cities in Canada, the new Surrey Langley SkyTrain has a built-in ridership. Fast and reliable rapid transit translates into fewer cars on the road. The Metro Region will benefit as Surrey Langley SkyTrain expands and connects the SkyTrain network into more communities. This major public transit infrastructure project will immediately create a large number of solid, well-paying middle class jobs and that’s good for our economy. I would like to thank the Government of Canada and the Government of B.C. for their support for this much-needed project. Surrey’s turn for new rapid transit has arrived.”
“It has been 30 years since the last fixed rapid transit investment in the south of the Fraser communities of Metro Vancouver. With the announcement of the Surrey Langley SkyTrain project, Langley City will not only be a designated Regional City Centre but a regional hub and a true transit-oriented downtown. The City of Langley is looking forward to working with the federal and provincial governments, as well as TransLink, to construct this critical regional priority project. On behalf of Langley City Council, we would like to acknowledge and thank them for their hard work and commitment.”
- The Government of Canada is contributing 40 per cent of eligible costs toward the Surrey Langley SkyTrain extension project, up to $1.3 billion. The Government of British Columbia and other partners are funding the remaining project costs of up to $2.54 billion.
- The Government of British Columbia has committed to taking over the ownership and delivery of Surrey Langley SkyTrain extension project and completing the project out to Langley. Once the new line is built, TransLink will operate the extension as part of the integrated SkyTrain network.
- Federal funding toward both projects is subject to the necessary federal due diligence and approvals process.
- Canada’s strengthened climate plan committed to provide public transit funding. The plan encourages cleaner modes of transportation, such as low and zero-emission vehicles, transit, and active transportation, to make communities healthier, less congested, and more vibrant.
- Through the Investing in Canada Plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.
- Through the Investing in Canada Plan, the Government of Canada is already investing $28.7 billion to support public transit projects, including $5 billion available for investment through the Canada Infrastructure Bank.
- In February 2021, the Government of Canada also announced a plan for $14.9 billion in new public transit funding over eight years, including $2.5 billion over five years starting this year as well as a portion of the $3 billion in ongoing annual transit funding beginning in 2026-27, to expand transit systems in large urban centres by enabling major transit projects to advance. The plan will also accelerate job-creating projects across the country, support active transit, and electrify our transit systems.
Former Tesla CTO's battery materials recycling company announces US$700 million+ investment – Energy Storage News
Published: 30 Jul 2021, 07:13
Former Tesla battery guru JB Straubel’s materials recycling company Redwood Materials has attracted more than US$700 million in investment.
Redwood, which is currently developing processes to produce battery materials that can be resold into the supply chain, has partnerships in place with the likes of Panasonic, Envision AESC and Amazon. The company pledges to recycle any device with a lithium-ion battery including phones, laptops and power tools, although a major focus is being placed on electric vehicle (EV) batteries.
The new investment will enable the company to significantly expand its capabilities and create new battery materials within the US, it announced on 28 July. In June, Redwood said it plans to increase the size of its facilities in Carson City, Nevada, to 550,000 square feet, and to build at another large site in Nevada at the Tahoe-Reno Industrial Center. It also wants to recruit 500 more employees in the next couple of years.
A “carefully selected group of strategic investors” took part, including Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board and Fidelity, in a round led by investment management group T. Rowe Price Associates. Investors that also participated in a previous Series B round also invested again, including Bill Gates’ Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund.
“We are excited to begin this investment in the talented and accomplished team at Redwood as they expand their pursuit of building a world-class sustainable, closed-loop battery supply chain for electric vehicles,” T. Rowe Price Growth Stock Fund portfolio manager Joe Fath said.
“In our view, the need for these materials will grow exponentially over time as we enter the era of decarbonisation. We believe Redwood is well-positioned to be at the forefront of tackling this emerging and critically important problem.”
Redwood CEO Straubel was one of Tesla’s co-founders and was chief technical officer at the company before founding his recycling venture in 2017. Straubel had hinted at the scale of the recent investment at an online event hosted by the US Department of Energy in June, telling Secretary of Energy Jennifer Granholm and viewers that recycling can enable very high utilisation of materials, helping to solve a “pretty challenging supply chain problem” that lies ahead.
At that event, which was focused on the challenges and opportunities of creating an advanced battery manufacturing value chain within the US, Secretary Granholm asked Straubel what the investment — which at the time he said would be in the order of “hundreds of millions of dollars” — said about the recycling space today.
Straubel replied that it showed that recycling is already very economically competitive, with recycled materials actually able to compete on price with mined materials. He added that Redwood is finding feedstock from the EV and consumer electronics sectors to be abundant. However, he noted that the market for recycled materials is currently in China, where they are sent to be reused in new products, rather than in North America. This highlighted gaps in refining and synthesis value creation in the US, the CEO said.
What role will stationary storage systems have in the recycling landscape?
Energy-Storage.news has recently heard from two different companies involved in battery recycling in North America and Europe that stationary storage systems will play a significant role in the coming years.
Finnish state-owned energy company Fortum announced its own US$30 million investment into a battery materials recycling plant in June which it hopes to open fully in 2023, capable of recovering lithium-ion, nickel, manganese and cobalt through a hydrometallurgical process, adding to existing facilities the company has in its home country.
Fortum’s head of its battery business line Tero Holländer told Energy-Storage.news that while the largest volumes of batteries for recycling will come from the EV segment, the share of batteries from energy storage systems (ESS) will also be significant.
Similarly, Canada-headquartered startup Li-Cycle, which has facilities in Canada and the US, recently formed a partnership with battery life cycle management company Renewance aimed at cost-effectively and sustainably processing ESS batteries.
Li-Cycle chief commercial officer Kunal Phalpher told the site that the ESS segment has a “crucial role” to play, with EVs “far from being the exclusive point of focus for the industry”.
“Stationary energy storage is playing a crucial role in the big picture of battery recycling, especially in the United States which is experiencing rapid growth and is in need of finding efficient methods to recycle all of the batteries stemming from facilities being decommissioned and/or upgraded,” Phalpher said.
In September last year, analysts from IHS Markit told the audience at an event hosted by our publisher Solar Media that more or less every stakeholder in the lithium-ion battery supply chain will see it as being in their interests to establish an effective recycling industry.
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Investing For Beginners: Financial Tips To Get Started – NPR
Millions of Americans have started investing during the pandemic. And while the market has started to get a bit wobbly lately, stocks are still near all-time highs. So now is actually a really good time for people new to the world of investing to figure out how to get their ducks in a row and their investments set up in a smart way for whatever the future may bring.
If you’re an everyday investor drying to sift through Reddit threads and YouTube tutorials, this is for you. Here are a few common mistakes to avoid and some actionable tips to get you on your own investing path.
Betting on a hot stock isn’t worth it.
Despite news headlines on life-changing investments on one stock item like GameStop, it is too risky to make short-term bets with sizable sums of money on what a stock is going to do next. Instead, some of the most respected investors in the world have long said the best way for everyday investors like you and me to make money is to invest in index funds and hold those investments over long periods of time.
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Most index funds offer low fees and will allow you to essentially buy the entire stock market. That way, if any one stock crashes it won’t affect your portfolio. And if you really want to bet on individual stocks, the best advice is to do that with a very small part of your portfolio — and only with an amount of money you can afford to lose.
Build a diverse portfolio.
The key to everyday investing is diversification, which means owning different types of investments to spread out the risk. According to investment manager Paula Volent, you definitely want to own stock index funds because stocks over time have always offered the best return. She suggests owning a broad U.S. stock market index fund, a foreign developed markets index fund and an emerging markets index fund.
Volent also says you need investments that can do well when stocks are doing poorly. These include Treasury bonds and real estate funds. As far as how to know how much of each of these components is the right mix for you, there are different ways to figure that out. Age-based, or so-called “target-date,” index funds put together a mix of many of these components for you with a risk profile based on how many years you are away from retirement.
For more guidance, read David Swensen’s Unconventional Success.
Want to learn more? If you’re going to read one book, check out economist David Swensen’s Unconventional Success. It’s the ultimate introduction to everyday investing from a world famous investor who set out to tell the rest of us how to do this right. Jack Bogle’s book Common Sense On Mutual Funds is another classic.
Working with a financial adviser? Make sure they’re fee-only.
Checking in with a financial adviser is strongly recommended by experienced investors, but make sure you’re speaking with a fee-only expert, who isn’t receiving commissions for steering you into one investment over another. Once you find someone acting in your best interest, try to meet with them once a year or every two to three years. Find someone you can pay a flat fee for each visit. This will save you money in the long term
Rebalance your investments for stability and to maximize your return on your investments.
There is no need to panic, even in times of big corrections in the market. With a diverse investment portfolio, you actually have an opportunity to make some extra money off of big swings in the markets by selling what has gone up in value and buying more of what’s gone down.
Let’s say you’ve decided you should have 50% of your portfolio in a mix of stock index funds. If stocks crash and bonds rise in value, then the stock portion of your portfolio might only be worth 45% of your overall portfolio. You can sell some bonds and buy more stocks to get back to the target in your investment plan. Buying low and selling high is the right way to make money investing. But you’re not doing this randomly. You are sticking with your plan for your target allocation in your core portfolio.
Bottom line — please don’t panic and sell everything just because the stock market crashes and you see other people panicking and getting rid of their stocks. That can do irreparable harm to your portfolio. Buying high and selling low is not a good way to make money.
The audio portion of this episode was produced by Janet W. Lee.
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6 Useful Tips on How to Make the Process of Investment Funding Fast and Convenient – The Seeker Newsmagazine Cornwall – The Seeker
Investment is not child’s play that can be mastered within no time. It requires a lot of tactics, risk-taking, and funding to make it work more conveniently and faster. If you are new in the business, you should definitely learn some tips to make the process of investment funding fast and convenient.
- Preparing an Investment Strategy
Preparing an abstract plan or portfolio of every investment funding is always better before starting it. The tasks will be easier for you to perform with all the data and statistics already prepared. Your strategy should consist of all the information regarding your investment goals, risk-taking tolerance, time horizon, and the variety of investment products you can invest in.
- Use Different Strategies And Diversification
The most efficient way to secure your investment is by using different strategies of investment funding. You can invest your funds in a variety of assets, whether you invest in bonds, stocks, real estate, or any other sub-investments, depending on your affinity for the field. This process of diversification will help you keep your funds safer. If the value of one option declines, the other variety will help cover up for your loss. So, you can opt for diversity in your investment funding to make it safer.
- Evaluation of Risk-Taking
Another basic function you need to take care of is to evaluate the risk you are going to take in any investment plan. If you are investing your funds, it should be obvious that you might face a number of risks after signing any project. Have the patience to take in any loss coming your way. To make your mind prone to any loss, you should evaluate the intensity of the loss you might face after investing your funds before signing up for any plan. This step will make the process of investment funding convenient.
- Apply For Different Investment Campaigns Or Loans
Most of you might not afford self-funding due to a lack of savings. However, you should not let this become a hurdle in your investment journey. There are different options you can consider like crowdfunding, angel investment, venture capital, bank loans, government plans, and other business loans. You can also try hard money lenders if you’re interested in real estate investment. The best option for this expenditure can be investor loans. Houston-based businesses, for instance, have their go-to people when it comes to getting loans for real estate. They are well aware that lenders from Priority Investor Loans are hard money lenders for real estate, and they come with tons of benefits that help make the process of investment funding fast and convenient. Through crowdfunding, you could seek the attention of investors through your proposal online. On the other hand, Angel investors and Venture capitalists are those looking for people with attractive business proposals, so they could guide them and invest in them. In the end, even if you have no one interested in your proposals, you could apply for business loans and start on your own.
- Maintain Plans To Escape Emergency Traps
Always remember to maintain emergency exits for all your investments. Keep enough money and other resources in case anything goes wrong. Your backup fund would be your go-to in case of any financial emergencies. With that, you could easily cover up the number of lost funds due to any decline in the stock market.
- Fund Your Own Business
The most convenient and fastest way to boost your investment funding is by funding your own business. This will help you remain motivated to work hard and remain free of debt. Additionally, the most important advantage would be that you will get the maximum profit from all your investments.
Proposing different ideas related to the process of investment funding is easy, yet a few people know its practical meaning. You may be new to this expenditure, still, you should know that it takes a lot of practical strategies and hard work to make the process work efficiently.
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