Government of Canada Announces Support for Clean Technology

EDMONTON, ALBERTA--(Marketwired - March 4, 2016) - Innovation, Science and Economic Development Canada

The Minister of Innovation, Science and Economic Development, Navdeep Bains, today announced over $206 million in funding for 36 clean technology projects across Canada.

Investing in innovation, supporting clean technology and encouraging sustainable practices will help create jobs, expand access to international markets and make Canadian companies more competitive in the global economy.

The Minister announced the investment in Sustainable Development Technology Canada (SDTC) during his speech to the Alberta Enterprise Group. SDTC provides support for clean technology companies at a critical point in the innovation spectrum: it allows innovators to develop and demonstrate their technologies prior to entering the market.

To stay competitive, Canada must lead the way in innovation and must embrace opportunities to create the clean jobs of the future. The Government of Canada will continue investing in innovative clean technology projects that grow local economies and promote environmental sustainability.

Quotes

"Canadians understand that a healthy environment and a strong economy are not competing priorities. Now is the time for Canadian companies to capture their share of the global market for clean technology. From waste management to biofuels to greener solutions for the oil and gas industry, these Canadian companies are leading the world in intelligent, environmentally responsible and economically sound solutions in a number of key economic sectors."

- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"The Government of Canada, and all Canadians, can take pride in the SDTC-supported Canadian companies that produce tangible environmental benefits that also make Canada's economy more competitive. Since its inception, SDTC has grown Canada's clean technology industry by funding more than 300 projects, resulting in the creation of 8,200 jobs for Canadians while reducing an estimated 4.5 million tonnes of CO₂-equivalent greenhouse gas emissions per year."

- Leah Lawrence, President and CEO, Sustainable Development Technology Canada

"Natural gas is the clean energy choice that's affordable. And the companies delivering it are driven by a commitment to innovation, finding ways to use natural gas to meet more and more of our energy needs. We build on that innovation through partnerships like the one we have with SDTC. Today's announced investments in NextGrid and Hydrogenics are the latest results of that partnership, and we look forward to more."

- Timothy M. Egan, President and CEO, Canadian Gas Association

Quick facts

• Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada to promote sustainable development and support projects that develop and demonstrate new technologies to address issues related to climate change, air quality, and clean water and soil.
• The projects are benefitting from the Government of Canada's investment in SDTC's SD Tech Fund and NextGen Biofuels Fund. Furthermore, two of the projects are funded through the SD Natural Gas Fund, a public-private partnership between SDTC and the Canadian Gas Association.
• SDTC invests in Canadian companies that, through their innovative technologies, contribute positively to Canada by creating quality jobs, driving economic growth and protecting the environment. Since its founding, SDTC has funded 316 clean technology projects.

Associated links

SDTC Funding Info Page: https://www.sdtc.ca/en/MarchFundingAnnouncement

Backgrounder

Sustainable Development Technology Canada

Sustainable Development Technology Canada (SDTC) is a foundation that funds Canadian cleantech projects. It was founded in 2001 and is funded by the Government of Canada. SDTC provides funding and coaching to entrepreneurs to ensure that Canadian cleantech innovation grows and prospers. SDTC defines cleantech as "technologies that improve business performance, while using resources more responsibly, and that reduce or eliminate negative environmental impact."

SDTC's mission is to work with entrepreneurs to help them bring their cleantech innovations to market. The organization is characterized by its willingness to take on risk. SDTC's main role is to build and sustain networks of partners and stakeholders from private industry, academia and governments. There are three different funds available to support Canadian cleantech projects through development and demonstration:

• The SD Tech Fund supports projects that address climate change, air quality, clean water and clean soil. This fund supports the majority of SDTC projects.
• The SD Natural Gas Fund supports the development and demonstration of new downstream natural gas technology.
• The NextGen Biofuels Fund supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.

Follow the Minister on Twitter: @MinisterISED