Lake Ontario Express
Lake Ontario EXPRESS
THE TRANSPORTATION SOLUTIONS COMPANY
03/11/2021
“HEADS UP” RELEASE
Lake Ontario Express Inc. and America’s Cup spin-off, Artemis Technologies LTD, of Belfast, UK, have started exploratory negotiations towards the purchase of two 80 passengers high speed ferries, for our proposed operation between the lower Niagara Peninsula and Toronto.
The vessels would be equipped with the Artemis eFoilerTM which enables them to “fly” over the water providing substantial fuel savings compared to modern high speed displacement vessels, through a combination of reduced drag and engine efficiency. The benefits, further explained in the attachment, include: a-electric drivetrain propulsion and batteries meeting our government’s goal of Zero Carbon Emissions, b-no noise c-no wake.
At Lake Ontario Express Inc‘s request, Artemis has agreed to enter in exploratory talks with several Ontario shipyards with the purpose of having the vessels built here in Ontario, with the benefit of expediting the permitting process and to help with job creation, all in line with our acquisition philosophy of “Best Value”.
Our target schedule is to start Engineering in 2023 and operational in 2024.
To develop and utilize the potential of Lake Ontario as a Transportation resource, being mindful, first and foremost, of the health and safety of our clients, crews, and communities, while being protective of the environment.