Carney announces German-Norwegian team as finalist for Canadian submarine contract.

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Aug 26 2025

0mins

Source: Reuters

Submarine Programme Announcement: Canadian Prime Minister Mark Carney revealed that Canada has shortlisted two contenders for its new submarine program, including a partnership between Germany and Norway.
Critical Minerals Cooperation: A joint declaration was made to enhance cooperation on critical minerals, with Canada aiming to strengthen Germany's supply chain and reduce reliance on China and Russia.
Investment Mobilization: Canada is set to mobilize nearly half a trillion dollars in investments focused on energy, port, and digital infrastructure to support the new initiatives.
Clean Hydrogen Agreement: An agreement was signed last year to promote trade in clean hydrogen, although progress is slow due to Germany's lagging demand for green fuel.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.