Investment to lower energy consumption in oil and gas industry operations and reduce costs for producers
SQUAMISH, BC, April 25, 2019 /CNW/ - A strong economy and a clean environment go hand in hand. That's why the Government of Canada is supporting the development of technologies that lead to less pollution, healthier communities and the creation of well-paying middle-class jobs.
Today, Pamela Goldsmith-Jones, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs), on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced an investment of $2.89 million in Rotoliptic Technologies Incorporated.
This investment supports the high-efficiency positive displacement pump technology developed by Rotoliptic. Consisting of only two parts, the unique pump architecture of this revolutionary technology means simple deployment, lower operating costs and applicability to a wide range of pumping needs. This innovation has the potential to lower both the energy consumption and the cost of ownership by approximately 40%. The investment will also help maintain 9 jobs and create 6 additional ones.
This project received funding and support from Sustainable Development Technology Canada (SDTC), which helps Canadian entrepreneurs accelerate the development and deployment of globally competitive clean technology solutions.
Investments in clean technology are part of the Government's Innovation and Skills Plan, a multi-year strategy to position Canada as a global leader in innovation and create good middle-class jobs right across the country.
Quotes
"Innovative technologies like the one developed by Rotoliptic demonstrate how a strong economy and a clean environment go hand in hand. Today's investment will help the oil and gas industry lower its energy consumption, reduce associated greenhouse gas emissions, and maintain and create jobs by reducing costs for the producers."
– Pamela Goldsmith-Jones, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs)
"When it comes to clean technology, Canada has the opportunity to be a true global leader, creating good middle-class jobs for Canadians while helping meet our climate change goals. By making clean tech a priority today, our government is securing Canada's international leadership position so all Canadians can reap the benefits of this fast-growing market now and into the future."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"Pumps use more electricity than any other piece of equipment in the oil and gas sector. Rotoliptic's new pump design will reduce energy consumption by up to 40%. Adoption of this technology will support the Canadian oil and gas sector's leadership in clean tech."
– Leah Lawrence, President and CEO, Sustainable Development Technology Canada
"Industrial pumping of fluids accounts for 20% of global electricity consumption and 5.6% of global greenhouse gas emissions. The revolutionary Rotoliptic pump architecture has the potential to reduce these numbers significantly. We are excited to continue innovating with the help of SDTC and the Government of Canada, and this funding allows us to both expand our team and advance our technology towards commercialization. This funding gives us the ability to continue to develop our high-efficiency pump that will have far-reaching clean technology implications for the global pumping industry."
– Brendan Downes, Executive Chairman and CMO, Rotoliptic Technologies Incorporated
Quick facts
- The world is taking notice of Canada's clean technology leadership: 12 Canadian companies were recently recognized on the 2019 Global Cleantech 100 list. Of those, 10 have received support from Sustainable Development Technology Canada. That's 10 percent of the world's leading clean tech companies.
- Rotoliptic Technologies Incoporated is headquartered in Squamish, British Columbia, and will demonstrate its technology in Canada and the United States.
- SDTC has invested over $1 billion in more than 300 companies, creating 11,000 well-paying jobs and reducing greenhouse gas emissions by an estimated 13.8 megatonnes annually.
- Budget 2017 set aside more than $2.3 billion to boost growth in Canada's clean tech space. That's the largest public investment ever committed to this area in Canada.
- Clean tech companies can get advice from a team of experts from across government through the Clean Growth Hub. The Hub provides a single, easy point of contact for connecting with clean technology programs and services.
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
Follow Sustainable Development Technology Canada on Twitter: @SDTC_TDDC
SOURCE Innovation, Science and Economic Development Canada
Dani Keenan, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-1710; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]; Media Relations, Sustainable Development Technology Canada, 613-234-6313, [email protected]
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