Plus, Harbour Air heads to China and LNG Canada's good to go
Vancouver’s Recon Instruments has been acquired by Intel, a company that had previously invested $4 million in Recon in 2013. Started by four UBC students in 2008, Recon makes smart glasses for sports. Under Intel, Recon will have more resources for growth and be able to benefit from Intel’s technology portfolio. It will also partner with Intel’s New Devices Group to develop smart device platforms for a broader set of customers and market segments.
Ready for takeoff
Vancouver’s Harbour Air and China’s Zongshen Industrial Group Co., Ltd. (Zongshen Group) have formed a partnership to export the seaplane commuter service to China. Zongshen Group has acquired a 49-per-cent stake (and 25 per cent of voting shares) in Harbour Air, which it believes has built a model for seaplane commuter air travel that will benefit millions of Chinese living in cities on the coast or near major waterways. Started in 1982 by CEO Greg McDougall with just two aircraft, Harbour Air is now the world’s largest seaplane airline. It averages 200 flights a day and 60,000 flights a year, transporting more than 420,000 passengers annually. One of the leading motorcycle and engine companies in China, the Zongshen Group aims to become the leader in China’s emerging general aviation industry.
It’s approvals all round for LNG Canada’s LNG export terminal in Kitimat. Not only has it received the go-ahead from the Canadian Environmental Assessment Agency (CEAA) and the B.C. Environmental Assessment Office (EAO)—both announced Wednesday—it also has support from the Haisla Nation. LNG Canada is proposing to build an LNG export facility in Kitimat initially consisting of two LNG processing units called “trains,” each able to produce 6.5 mtpa of LNG annually, with an option to expand to four trains. LNG Canada is a joint venture comprising Shell Canada Energy (50%), PetroChina (20%), Korea Gas Corporation (15%) and Mitsubishi Corporation (15%).