The Problem:
Canada is striving to meet a net-zero emissions goal and the Government of Canada drafted proposed regulations requiring at least 20 percent of vehicles sold in Canada will be zero-emission by 2026, 60 percent by 2030, and 100 percent by 2035. Any car older than 25 years old is gas-powered and a heavy emissions contributor.
The Solution:
ARC Motor Co can reduce emissions and waste by restoring and converting cars to EV’s, upcycling lithium-ion batteries to do so. Community Futures Peterborough supported the start-up of ARC Motors with a sizable loan to help launch the business.
Implementation & Results:
Sloane and Tom used the funding from Community Futures Peterborough to restore and convert a 1974 Ford Bronco into a fully electric vehicle. In doing so, ARC is also able to modernize the vehicles using today’s enhanced safety standards. “It’s not just about preserving the past,” Sloane says. “We’re thinking about what we can do to keep these classic cars on the road. Safety standards have changed from when these vehicles were first produced and we want to enhance the classics to today’s standards by adding features like disc brakes, power steering, and other features to modernize them. This will preserve these cars for future generations to enjoy.”
Testimonial:
Sloane Paul, Founder and CEO of ARC Motor Co.
“Not only are we grateful to the team at Community Futures Peterborough for providing us with a critical loan, but also for their invaluable expert advice and guidance. Their mentorship has been instrumental in steering us—as a start-up—along the right path.”
Conclusion:
The support from Community Futures Peterborough has allowed this green-tech start-up to launch its business and convert classic cars into electric vehicles.
“Rebuilding classic cars with clean technology is a new and exciting way to drive the future of net-zero transportation,” says the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “Supporting entrepreneurs like Sloane and Tom so they can bring their incredible ideas to Canadians is exactly how our government will grow the economy and fight climate change.”
“Small-town businesses create very big ideas,” says Bryan May, Member of Parliament for Cambridge and Parliamentary Secretary to the Minister responsible for the Federal Economic Development Agency for Southern Ontario. “ARC Motor Company is an example of how great ideas get off the ground with the right supports. Our government works with businesses and the organizations like Community Futures Peterborough that support them, as they find new and innovative ways to contribute to a strong economic future for Ontario and all of Canada.”