Alphabet and Teachers’ to launch infrastructure investment company

Alphabet and Teachers’ to launch infrastructure investment company
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TORONTO — Google affiliates Alphabet Inc. and Sidewalk Labs are partnering with the Ontario Teachers’ Pension Plan to launch a new company that invests in infrastructure.

Sidewalk Labs CEO Dan Doctoroff says the new company, to be called Sidewalk Infrastructure, will give cities an opportunity to deploy more advanced, next-generation infrastructure.

The infrastructure could include technology-enabled systems for stormwater management, neighbourhood-scale heating and cooling, advanced traffic controls and other initiatives that Sidewalk Labs hopes to deploy at the Quayside side on Toronto’s waterfront.

Doctoroff says in a statement that the new company will play an important role in Sidewalk Labs’ ecosystem of products, financing, and development to make cities more inclusive and sustainable.

Teachers’ did not immediately respond to a request for comment.

Sidewalk Labs released its master proposal for Quayside and the eastern waterfront in June that includes a $1.3-billion spending commitment from the company.

The Canadian Press

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