Heliene Inc. capitalizes in Sault Ste. Marie

$1.36 million energizes Sault Ste. Marie WATCH: Communities, businesses and residents will benefit from new opportunities as result of new funding. Jairus Patterson reports.

As the federal election looms, ridings where there are Liberal MP's are seeing quite a boom in funding announcements.

The latest was September 5 in Sault Ste. Marie, where Heliene Incorporated, a solar panel manufacturing company, received $1.3 million in loans from the federal government.

"By 2050, more than 50% of the power generation in the world will come from solar. It's difficult to see it now, when most of our energy, particularaly in Northern Ontario, comes from Hydro," said Heliene Inc. President Martin Pochtaruck.

The money will be used to help create electric vehicle charging stations and a smart grid project for home and commercial use.

"Two projects allow for the research and development and piloting of new technologies of what we call the use of solar power. Not necessarily for power generation, but for the utilization into the diversify industries," said Pochtaruck.

The loans do not need to be paid back until the product is commercialized, and local MP Terry Sheehan says that's done on purpose.

"To ensure that jobs are maintained and created, and also we have more timelines that are favourable for companies, as well as for the explore, especially in the new economy, when you're dealing with brand new state-of-the-art technology," said Sheehan.

78 people currently work at the factory in Sault Ste. Marie and another 77 work throughout North America.