Grants and Contributions:

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Title:

Quantum Peak Load Shaving and Emergency Power

Agreement Number:

1920-CN-000024

Agreement Value:

$90,000.00

Agreement Date:

Jul 5, 2019 - Mar 31, 2021

Description:

Quantum Machine Works will design and install the first commercial scale lithium ion battery in the Yukon as an energy storage system. The project will allow for Quantum to reduce peak demand load and short term back up power.

Organization:

Canadian Northern Economic Development Agency

Expected Results:

This project is expected to result in a significant reduction in demand charges at Quantum Machine Works that account for over 50% of average monthly electricity costs. The demand charge savings will provide Quantum Machine Works with additional capital to invest in their business and insulate them from increased utility costs associated with adding new equipment.

Location:

WHITEHORSE, Yukon, CA Y1A 5Z2

Reference Number:

1920-CN-000024

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Type:

For-profit organization

Recipient's Operating Name:

9209 - QUANTUM MACHINE WORKS LTD

Recipient's Legal Name:

QUANTUM MACHINE WORKS LTD

Federal Riding Name:

Yukon

Federal Riding Number:

60001

Program:

Entrepreneurship and Business Development

Program Purpose:

Provides financial support to Aboriginal entrepreneurs, businesses, and commercial entities to expand their business in the three territories. It helps applicants pursue economic opportunities that benefit Aboriginal people. The fund is also intended to provide project-based support for activities that help to establish or grow Aboriginal businesses.