On Tuesday, July 30, we were incredibly proud to host an event at our St. Thomas plant to announce that the Ontario government is investing $3.46 million to help us with the expansion of our operations.
On hand for the occasion were (from left to right in the photo):
- Christoph Kulterer, CEO, HASSLACHER
- Mayor Joe Preston, St. Thomas
- Hon. Nolan Quinn, Associate Minister of Natural Resources
- Patrick Poulin, President & CEO, Element5
- Hon. Paul Calandra, Minister of Municipal Affairs and Housing
Element5 is “leading the way in innovative mass timber building materials,” as demand for cross-laminated timber products increases, Associate Minister of Natural Resources, Nolan Quinn said.
“Demand for these products is expected to grow by up to 25% per year over the next decade... The funding will more than triple Element5’s production, create 32 new positions, increase revenue by more than 300% and boost the company’s export sales by almost 600% Quinn stated.
“With more space and new equipment, Element5 will be able to meet growing demand for their high-quality products and get more building projects done quickly and efficiently. This company is an advanced wood construction success story, powering growth and development across Ontario, Canada and the U.S."
Videos of Element5 Mass Timber Funding Announcement
CTV News - "The way of the Future"
The Advanced Wood Construction Action Plan and Affordable Housing
Minister Quinn also took the opportunity to launch the draft version of the Advanced Wood Construction Action Plan, which positions Ontario to lead the fast-growing sector by using more wood in the construction of mid-rise and tall multi-family residential, commercial and industrial buildings.
The Advanced Wood Action Plan sets out four objectives:
1) Promote and educate to accelerate the use of Advanced Wood Construction
2) Simplify access by advancing research research
3) Updating building codes
4) Grow Ontario's Advanced Wood Construction capacity, by investing in advanced manufacturing facilities and processes.
Advanced wood construction assembles building materials off-site before installation, reducing on-site disruption, completing projects up to 50% faster and reducing costs by up to 20%. It also offers environmental benefits, by using wood as a sustainable alternative to traditional building materials while supporting the forestry sector.
Paul Calandra, Ontario’s minister of municipal affairs and housing, called mass timber “another avenue” for the provincial government to reach its goal of building 1.5 million homes by 2031, a target set to alleviate a shortage of housing in the province.
Official Press Release- Ontario Investing $3.5 Million in Mass Timber Manufacturer to Build More Homes Faster
https://news.ontario.ca/en/release/1004878/ontario-investing-35-million-in-mass-timber-manufacturer-to-build-more-homes-faster
Video courtesy of Livecast.ca.
Further Media Coverage of the Event
- 'The way of the future': Taking cross-laminated wood to new heights - CTV News, July 30, 2024
- Funding will triple output at St. Thomas ‘mass timber’ maker - London Free Press, July 30, 2024
- Community Spotlight: More jobs for St. Thomas with $3.46 million coming to Element5 - St. Thomas Today, July 30, 2024
- Ont. investing $3.5M in mass timber mfg - Canadian Manufacturing, July 30, 2024
- Market demand fuels expansion at mass timber plant - Northern Ontario Business, July 31, 2024
- Ontario invests $3.46 million in St. Thomas mass timber manufacturer - Ontario Construction News, July 31, 2024