Agreement Value:
$10,000,000.00
Agreement Date:
Feb 24, 2026 - Jan 1, 2046
Description:
Hanon’s project will construct a manufacturing plant for electric compressors (e-compressors) for electric and hybrid vehicles and construct a co-located product development, testing and validation center. The project’s work phase is scheduled to end on December 31, 2026.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
The project is designed to establish Canada’s first electric compressor (e-compressor) manufacturing facility and a co-located product development, testing and validation centre. Together, these initiatives will strengthen Canada’s role in the global zero-emission vehicle supply chain by expanding domestic production capacity and enhancing local development capabilities.
Location:
Concord, Ontario, CA L4K 5C2
Reference Number:
033-2025-2026-Q4-819855
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
716615919
Recipient Type:
For-profit organization
Recipient's Operating Name:
Hanon Systems EFP Canada Ltd.
Recipient's Legal Name:
Hanon Systems EFP Canada Ltd.
Federal Riding Name:
Unknown
Federal Riding Number:
35999
Program:
SIF Stream 2- Growth
Program Purpose:
Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services; Facilitate the growth and expansion of firms in Canada; Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.