The Canada Infrastructure Bank hasnB次元官网网址檛 approved funding for a proposed ultra-light rail which has gained support from some West Shore municipalities.

In a statement, the Crown corporation said it was contacted by ThinkEco Power Inc. and its founder Stephen Kong seeking an investment in their project and informed them funding cannot be provided as requested.

B次元官网网址淭he CIB does not provide grants or make investments in R&D, pilots, or demonstration projects,B次元官网网址� said spokesperson Ross Marowits. B次元官网网址淲e indicated to the proponent that we would be happy to re-engage at a future date if a proposed project aligned with CIBB次元官网网址檚 investment criteria.B次元官网网址�

The proposed project was endorsed in principle by the Town of View Royal and City of Colwood councils, which also agreed to help identify potential test site locations on the West Shore. The project would eventually result in a two- or three-kilometre stretch of rail being installed to accommodate testing of a battery-powered commuter train which, if successful, could grow into a rail network to reduce commuter traffic.

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Part of the appeal for the two councils was KongB次元官网网址檚 statement the project would cost the municipalities nothing, in part because he had B次元官网网址渢he backingB次元官网网址� of the CIB, as well as interest from private investors.

Following the presentation to View Royal council on June 20, Coun. Damian Kowalewich said to Kong B次元官网网址測ou mentioned that you had secured funding from the Canadian federal government earlier in your presentation, are you able to elaborate on that, not necessarily numbers if there is some kind of NDA?B次元官网网址�

Kong said ThinkEco had B次元官网网址渢he backing of CIB, and their interest is to promote any technology that would have zero emissions, and this qualifies. WeB次元官网网址檝e had a series of discussions with a senior director, and he has agreed to fund the feasibility study, up to a certain limit, I wonB次元官网网址檛 mention the amount,B次元官网网址� he said.

B次元官网网址淭he funding we have received, we do have also the possibility of getting more funding from the ZETF (Zero Emission Transit Fund), which is another part of Infrastructure Canada. So both of these people have been consulted and they agree that a feasibility study for six months would be a good idea.B次元官网网址�

Asked to respond to the CIBB次元官网网址檚 rebuttal of his comments to View Royal council, Kong said in an email: B次元官网网址淚tB次元官网网址檚 highly regrettable that the CIB has come forward publicly to deny any involvement with this ULRT project and their proclamation that funding could not be provided.

B次元官网网址淥ur team met up with the CIB senior director, Jodie Parmar, on three separate occasions to understand whether this ULRT project can be supported. During our very recent March 2023 zoom call, where 15 of our team members/partners were present, we were told unequivocally that this ULRT project checks off on each and every box in their funding criteria.B次元官网网址�

Kong said he and his team understood the CIB does not normally invest in or provide grants to demonstration projects, and he asked Parmar to make an exception for his project.

B次元官网网址淗e agreed to make an exception and approved the feasibility study funding up to a certain quantum.B次元官网网址�

He said while it is disappointing to him and his team his word is being contradicted in public given their hard work in supporting the West Shore in getting a state-of-the-art light rail system, B次元官网网址渢his appears to be an honest mistake on our part and a lack of awareness of internal protocol.B次元官网网址�

Despite the confusion around CIB funding, View Royal Mayor Sid Tobias said he remains supportive of ThinkEcoB次元官网网址檚 proposal, and does not feel as if he and council were misled by Kong.

B次元官网网址淣obody would provide any funding until there was an agreement on a place to do a test,B次元官网网址� Tobias told the Goldstream Gazette Thursday (July 13). B次元官网网址淚tB次元官网网址檚 kind of like chicken and egg. You are not going to get approval for funding until you have an agreement with a municipality, province, or region in order to conduct a study. I think in Mr. KongB次元官网网址檚 preliminary discussion, as he stated to me, that such a project would be feasible for funding, based on the conversations he had.B次元官网网址�

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