Four clean energy projects in Ontario will receive funding of $14.7 million through Sustainable Development Technology Canada’s (SDTC) SD Tech FundTM to support the commercialization of new technologies and create high-quality jobs.
“Canada must nurture highly skilled individuals and new ideas that will help our businesses innovate, secure new markets and create well-paying jobs,” said Natural Resources Minister Joe Oliver. “By supporting advanced research and technology, our government is investing in Canadian prosperity and a cleaner environment.”
Cleantech is a high growth sector in Canada—global demand for clean technology is projected to triple by 2020, reaching $3 trillion, while global demand for electricity is expected to grow by over 70% by 2035.
According to The Funding Portal’s Data & Analytics, the cleantech and energy sector was the second top government funding recipient in 2012, immediately ranking behind the broader manufacturing sector. The cleantech sector was also the fourth top ranked sector to receive venture capital funding in 2012.
SDTC is a not-for-profit foundation that finances the development and demonstration of clean technologies addressing climate change, clean air, water quality and soil. Its SD Tech Fund supports projects focusing on these issues, while its NextGen Biofuels Fund™ supports large demonstration-scale facilities for the production of next-generation renewable fuels.
Last week, SDTC announced funding under its SD Tech Fund to allow four clean energy projects to advance from the conceptual phase to commercialization:
- Macroteck Inc. in Markham receives $2 million to develop factory exhaust scrubbing technology;
- Vive Crop Protection Inc. in Toronto receives $3.7 million for targeted agricultural crop protection technology;
- Switchable Solutions in Kingston receives $5.2 million for technology to mine different grades of bitumen; and
- Solantro Semiconductor Inc. in Ottawa receives $3.8 million to develop microchip technology for improving solar power generation to the grid.
“The projects announced today are great examples of the Canadian innovation and entrepreneurship that characterize SDTC’s portfolio, valued at more than $2 billion and brimming with innovative technological solutions,” said Vicky Sharpe, President and CEO of SDTC. “Canadian clean tech leaders are continuing to create economic opportunities and open up avenues to new export markets.”
Budget 2013 announced $325 million over eight years to support SDTC’s activities. Since 2012, the foundation has allocated $598 million to 246 clean technology projects.
SDTC is currently accepting Statements of Interest for its SD Tech FundTM until Oct. 16. Use The Funding Portal’s search tool to learn more about SDTC’s two funds, as well as other funding programs open to Canada’s clean tech sector.