Business View Magazine | Volume 9, Issue 3

7 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 3 O p e n i n g L i n e s ENEDYM RECEIVES $2.4 MILLION BY SUSTAINABLE DEVELOPMENT TO COMMERCIALIZE AND ADVANCE VENTIUMWIND PITCH MOTOR T H AMILTON, Ontario - Enedym, Inc., the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, announced recently that it is receiving a $2.4 million non-repayable contribution from Sustainable Development Technology Canada (“SDTC”) to commercialize and advance its Ventium wind pitch motor technology. Utilizing its unique wind pitch motor technology, Ventium, whose name is a combination of Latin words for wind (Ventus) and power (Imperium), increases the reliability and efficiency of wind turbines, which means an increase in energy production. Over time, increased wind energy production will displace fossil fuel electricity generation resulting in significant reductions in greenhouse gas emissions. In addition, increased efficiency of wind turbines reduces the cost of wind energy, making investments in clean wind energy more attractive. The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, commented, “Canadian entrepreneurs are leading the global shift to a stronger, greener and more resilient economy. Today’s investments will enable cleantech innovators across multiple sectors to commercialize their ideas, helping Canada meet its 2030 climate commitments and reach net-zero emissions by 2050, providing a more sustainable future for all Canadians.” Leah Lawrence, President and CEO of SDTC, said, “Enedym’s technology has the potential to make wind turbines an even more effective source of sustainable electricity. SDTC is proud to support Canadian entrepreneurs, like Enedym, who are leading the global effort in developing solutions and driving the innovation that will move us towards a greener and prosperous future.” Dr. Ali Emadi, Founder, President, and CEO of Enedym, commented, “We wish to thank SDTC for their continued support toward the advancement and commercialization of our next-generation wind pitch motor system for wind turbines,