Seaspan Announces $1M Investment to University of Victoria for Hybrid Electric Technology Research

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 16, 2017) - The Dennis & Phyllis Washington Foundation (the "Foundation"), in conjunction with Seaspan, announced today a $1 million investment to the University of Victoria (UVic) to support innovative teaching and research for cleaner and more environmentally friendly transportation solutions.

As a result of the grant, additional government and industry funding will be secured to support future research activities focusing on advanced hybrid electric propulsion technologies that enable cleaner, lower cost fuel alternatives. The research team led by mechanical engineer Dr. Zuomin Dong will advance solutions for heavy-duty marine, mining and transportation sectors working to meet their greenhouse gas targets and climate change mitigation goals.

This donation has been given as part of Seaspan's Industrial and Regional Benefits Policy obligations associated with the Joint Support Ship (JSS) program under the National Shipbuilding Strategy (NSS).

"Innovation and cutting-edge technology are critical components for the continued growth of the shipbuilding and marine transportation industries on the West Coast," said Brian Carter, President and Chief Executive Officer - Seaspan Shipyards. "We are excited to partner with the University of Victoria in developing the next generation of engineers and researchers who will play leading roles in implementing green transportation solutions."

"The National Shipbuilding Strategy is playing a vital role in developing our marine industry's biggest strength-its people," said the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. "These investments in university research will contribute to Canada's goal of becoming a true global leader in clean technology, creating good jobs for Canadians and helping to meet our climate change goals, while also helping to train the next generation of knowledge workers and innovators for the marine industry."

"As we tackle the many challenges posed by climate change, our researchers are leading the way in sustainable energy research, working closely with governments, industry and community groups to foster clean growth and low-carbon economic development," says University of Victoria President Jamie Cassels. "We're very grateful to the Dennis and Phyllis Washington Foundation and Seaspan for their investments in this vital work, which responds to one of our most significant national and global challenges."

The Dennis & Phyllis Washington Foundation's charitable donations are among the organization's largest direct donations of their kind in Canada. On June 23, 2016, Seaspan, in conjunction with the Foundation, announced a multi-year donation of $900K for three institutional trades training programs in Canada - the British Columbia Institute of Technology, Camosun College and the Canadian Welding Association. Since its inception, the Foundation and the Washington Family's personal contributions to charitable causes total more than $270 million to hundreds of organizations that focus on education, health and human services, arts and culture, and community service.

"Dennis and Phyllis Washington both strongly believe that access to a high quality education is the single most important determinant of success in life and we are excited to partner with the University of Victoria to support this valuable, 21^st Century academic program," said Mike Halligan, Executive Director - the Dennis & Phyllis Washington Foundation.

About Seaspan ULC

Seaspan ULC (Seaspan) is an association of Canadian companies primarily involved in coastal marine transportation, shipdocking/ship escort, ship repair and shipbuilding services in Western North America. In addition to the marine transportation services offered directly through Seaspan, commercial ferry, shipyard and bunkering services are provided via affiliate companies: Seaspan Marine, Marine Petrobulk Limited Partnership, Seaspan Ferries and Seaspan Shipyards (Vancouver Drydock, Victoria Shipyards and Vancouver Shipyards).

As part of the National Shipbuilding Strategy (NSS), Seaspan Shipyards is proud to be Canada's chosen Non-Combat Shipbuilder. In this capacity, the company is building state-of-the-art ships in Canada for the Canadian Coast Guard and Royal Canadian Navy. Through its NSS-related work, Seaspan Shipyards is creating jobs and rebuilding Canada's shipbuilding and marine industries.