December 11, 2017– St. John’s, NL– Atlantic Canada Opportunities Agency
Federal government invests $5 million in PAL Aerospace for continued growth and expansion
St. John’s-based PAL Aerospace will expand its global reach and create more than 150 person years of employment over five years, as it continues work on its innovative Force Multiplier aircraft. Thanks in part to support from the Government of Canada, the company will add to the modified Dash-8 aircraft’s existing technical capacity for intelligence, surveillance and reconnaissance (ISR) missions around the world.
The Honourable Seamus O’Regan, Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for St. John’s South-Mount Pearl, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), today announced a $5 million conditionally repayable investment in the company through ACOA’s Atlantic Innovation Fund.
The Force Multiplier aircraft was launched at the Dubai Air Show in November 2017 to showcase its potential for surveillance and training missions. This investment will enable PAL Aerospace to undertake engineering and research and development to increase this aircraft’s technical functionality.
The Force Multiplier is owned and operated by PAL Aerospace and available for lease for an extensive range of missions, including maritime patrol in the fishing industry, environment and ice management and search and rescue operations.
This investment supports the objectives of the Government of Canada’s Innovation and Skills Plan to create new opportunities for Canadians and accelerate the growth of their companies. The Plan will ensure that Canadians develop skills and seize new opportunities to succeed in a growing economy.
Quotes
“This investment in PAL Aerospace demonstrates our Government’s commitment to creating a robust, innovative Atlantic economy. The commercial potential for the Force Multiplier aircraft is immense. It is used in many different roles around the world and contributes highly skilled jobs and drives economic growth in Newfoundland and Labrador.”
- The Honourable Seamus O’Regan, Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for St. John’s South-Mount Pearl
“PAL Aerospace continues to show an impressive capacity for responding to global industry demands in the aerospace and defence industry with innovative solutions. Their strategic approach aligns well with the Government of Canada’s efforts to support growing, innovative businesses which create good jobs for Canadians and a thriving middle class.”
- Nick Whalen, Member of Parliament for St. John’s East
“The announcement of this ISR asset is transformational for our organization and I want to thank the Government of Canada for their support. We are committed to delivering this platform so our customers can react when they need it most. We are confident that our clients will appreciate the approach that we have taken to provide a flexible, proven, reliable and low-risk solution that gets them the data they need, when and where they need it.”
- Brian Chafe, CEO, PAL Aerospace
Quick Facts
- PAL Aerospace is part of St. John’s-based PAL Group, a company with 1,100 employees in locations around the world.
- The company designs, modifies, maintains and operates custom sensor-equipped aircraft with a focus on intelligence, surveillance and reconnaissance solutions and maritime patrol.
- ACOA’s innovation programming, which includes the Atlantic Innovation Fund (AIF) and the Business Development Program (BDP), is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy.
- In 2016, the Government of Canada, through ACOA’s AIF, invested more than $35 million in 16 innovation and R&D projects in the Atlantic region.
Contacts
Paul McGrath
Director, Communications
ACOA NL
709-772-2984
paul.mcgrath@canada.ca
Stephen Dinn
Vice-President, Business Development
PAL Aerospace
709-725-0027
sdinn@provair.com