Palcam Technologies Receives up to $2 Million from the Government of Canada to Scale Up Giga-Cast Tooling Production
Newmarket, Ontario — Palcam Technologies Ltd. is pleased to acknowledge the support of the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), which is providing a repayable contribution of up to $2 million through the Business Scale-up and Productivity (BSUP) stream of the Regional Economic Growth Through Innovation program. The funding supports a $4-million project to expand Palcam’s advanced manufacturing capabilities at its Newmarket facility.
Building Capacity for Giga-Cast Tooling
The project will enhance Palcam’s manufacturing capabilities by acquiring advanced equipment for producing high-quality, cost-competitive giga-cast components for electric vehicles and lightweight vehicles. The aim is to position Palcam as a leading supplier of giga-cast tooling in the North American market, supporting the production of more efficient and sustainable vehicles and contributing to the global shift toward electric mobility.
The Investment in Detail
The project brings together equipment, process development and people:
Advanced Machining Equipment — Procuring and installing 5-axis CNC milling equipment, along with sink and wire electrical discharge machining (EDM) equipment.
Precision Inspection — Adding Coordinate Measuring Machine (CMM) equipment to verify large, complex tooling components.
Process Development and Training — Developing fixtures, tooling and machining processes for giga tooling, and training staff to increase production capacity.
The project runs from June 2024 through July 2027 at Palcam’s facility at 1300 Ringwell Drive in Newmarket.
Supporting Growth in Southern Ontario
The Business Scale-up and Productivity stream helps firms accelerate their growth and adopt new, innovative technologies that support scale-up, productivity, and entry into new markets. Palcam’s project supports these goals by:
• Expanding advanced manufacturing capacity in Ontario
• Developing new processes for giga-cast tooling
• Training staff on new equipment and processes
• Supporting the North American shift to electric and lightweight vehicles
About Palcam Technologies
Founded in 1995 and headquartered in Newmarket, Ontario, Palcam Technologies Ltd. specializes in precision CNC machining of replacement components for aluminum die casting tooling. The company's 30,000-square-foot facility houses 29 CNC machines, including 20+ 5-axis systems capable of machining complex H-13 and 420 stainless steel components. Palcam serves leading automotive OEMs and Tier 1 suppliers across North America.
About FedDev Ontario
Since 2009, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. Learn more at feddev-ontario.canada.ca.