Ontario launches $200M technology fund
TORONTO, ONTARIO - Ontario will set up a fund of at least $200 million to help companies with new technologies who are having trouble finding investors.
A government source says the $200 million will help drive private investment into emerging Ontario technology companies and other high-tech businesses.
The fund was set up because of serious challenges that new technology companies face in raising venture capital due to tight credit markets.
The source says without access to capital, these companies cannot grow and create jobs in Ontario.
The announcement will be targeted to companies working in clean technology, life sciences, and digital media and communications technology.
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Overturning statewide vote, Maine court energizes Hydro-Quebec's bid to export power
BANGOR - Maine's highest court on Tuesday breathed new life into a $1-billion US transmission line that aims to serve as conduit for Canadian hydropower, ruling that a statewide vote rebuking the project was unconstitutional.
The Supreme Judicial Court ruled that the retroactive nature of the referendum last year violated the project developer's constitutional rights, sending it back to a lower court for further proceedings.
The court did not rule in a separate case that focuses on a lease for a 1.6-kilometre portion of the proposed power line that crosses state land.
Central Maine Power's parent company and Hydro-Québec teamed up on the…
