v3.26.3
Grants and Subsidies
3 Months Ended
Aug. 31, 2026
Grants and Subsidies [Abstract]  
Grants and Subsidies

NOTE 10. Grants and Subsidies

 

INSAT

 

The Canadian government recently announced the Initiative for Sustainable Aviation Technology (“INSAT”) fund whereby $350 million will be invested into innovative companies focused on sustainable aviation solutions. The Company submitted an initial INSAT proposal in April 2025 along with its application partners for a project size of $10.5 million, of which up to 40% of project costs may be reimbursed. In October 2025, the Company was informed that this application was successful. As of August 31, 2026, the Company has submitted $1,495 of project costs, of which $442 is anticipated to be reimbursed by INSAT and has recorded $442 in accounts receivable in the unaudited condensed interim consolidated balance sheets as of August 31, 2026. Of this amount, $134 was recorded in Other income in the unaudited condensed interim consolidated income statements during the three months ended August 31, 2026 (2025 – nil).

 

Scientific Research and Experimental Development

 

In connection with the year-ended May 31, 2026, the Company plans to file an application for Scientific Research and Experimental Development (“SR&ED”) credits with the Canadian federal government. As the specific SR&ED amount has not yet been determined, the Company did not accrue any credits in connection with the year-ended May 31, 2026.