A liitle disappointed on the 17.6M grant
Quoted from other forum: "The CAD$16.7 M should be from this pot. If it is, the Next Generationof Jobs Fund is a 5 year program and on average, if Electrovaya meetsthe milestone, it will receive CAD$3.3 M a year. Also, the news releaseof the ministry of economic development clearly states that 20% offunding is provided upon signing. In this case, it is CAD$3.3 M thatElectrovaya reported in its news release."
And the link is here
https://www.ontariocanada.com/ontcan/page.do?page=6103
If this is true, the good news is that Electrovaya meets the selection criteria.
The 'bad' news is
1. This is just a 45 days' decision. Basically it is grant according to the procedure, not really because Electrovaya is outstanding.
2. It is granted because Electrovaya meets the criteria, not really because Electrovaya has a superb product which the government wants to support.
3. The government prepare 1.15b. So Electrovaya is just one of the supported companies. Maybe its competitor is also supported.
In a word, the money is granted because of the program for job creation, not because of Electrovaya's 'great' product.
In another word, if you have a company who can meet the selection criteria, you get the money. So it is a good news to have the grant, but shouldn't be so exciting for such a high peak.