Articles tagged with "Commercial"

In August, a wildfire in Kingston, Newfoundland and Labrador, caused approximately $70 million in insured damages to homes, businesses, and infrastructure, prompting the evacuation of around 3,000 residents. The event was the largest insured property loss in Atlantic Canada this year, highlighting the increasing risk and cost tied to extreme weather events. The Insurance Bureau of Canada is urging investments in resilient infrastructure and stricter building codes to mitigate the impact of future disasters. Prolonged dry conditions and high temperatures have intensified wildfire risks in the region.

NordSpace, a private Canadian company, has begun constructing the Atlantic Spaceport Complex in Newfoundland and Labrador, marking Canada's first commercial spaceport. The facility will accommodate a range of orbital inclinations and support various launch vehicles, including NordSpace's Tundra and Taiga rockets. The first launch is expected soon, with full operational capability planned for the next few years. This initiative aims to position Canada as a player in the global space industry and reduce reliance on foreign launch systems.