TORONTO, April 6, 2017 /CNW/ - The Government of Canada continues to strive to be a global leader in clean technology by positioning Canada at the leading edge of a changing economy and ensuring that Canadians are able to access the jobs of the future.
The Honourable Navdeep Singh Bains, Minister of Innovation, Science and Economic Development, highlighted commitments from Budget 2017 that will boost the growth of Canada's clean technology sector by making available more equity finance, working capital and project financing to promising clean technology firms. Nearly $1.4 billion in new financing, on a cash basis, will be made available to help Canada's clean technology firms grow and expand.
Budget 2017 also takes important steps to support the Pan-Canadian Framework on Clean Growth and Climate Change. Addressing climate change and protecting our environment represent an opportunity to support inclusive and sustainable economic growth.
Minister Bains also announced $1,625,000 in funding for the construction of two public hydrogen stations in the Greater Toronto Area to support a new Canadian market for fuel-cell vehicles. The project proponent, Hydrogenics Corporation, is a Canadian company that has been involved since 2000 in over 50 hydrogen refuelling station projects around the world.
Budget 2016 allocated $16.4 million for the deployment of electric vehicle recharging and alternative fuel refuelling infrastructure. Once successfully completed, the projects under this funding will establish more than 80 new charging units for electric vehicles, as well as nine natural gas and three hydrogen refuelling stations along key transportation corridors.
"We have the opportunity to have a major impact on the development of clean energy and clean transportation. Our 2017 budget proposes a number of approaches to reach that goal and improve energy efficiency, reduce carbon emissions and create a cleaner environment and healthier communities. Our government will also continue to help companies raise the standard in the field of clean technologies in order to improve the quality of life of all Canadians."
Navdeep Singh Bains
Canada's Minister of Innovation, Science and Economic Development
"We are very pleased to receive this funding and support from the Canadian government for additional fuelling stations in and around Toronto. Having supplied hydrogen fuelling equipment to more than 50 public and private fuelling stations across the globe, it is particularly gratifying to deliver our expertise, with the support of NRCan, here at home. Driven by automotive OEMs such as BMW, Honda, Hyundai, Kia, Mercedes-Benz and Toyota, we're seeing an increase in demand for hydrogen-based clean vehicles in Europe, California, the UK and Japan — and now here in Canada. Using our renewable hydrogen fuel, the GTA will be one step closer to enabling carbon-free fuelling for zero-emission vehicles."
President and CEO of Hydrogenics
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SOURCE Natural Resources Canada
For further information: Alexandre Deslongchamps, Press Secretary, Office of the Minister of Natural Resources, 343-292-6837; Media Relations, Natural Resources Canada, Ottawa, 343-292-6100