STDC investments will create jobs, reduce pollution and energy costs, and develop smart clean technologies
MISSISSAUGA, ON, Aug. 22, 2019 /CNW/ - Across Canada, companies at the forefront of clean technology innovation are developing solutions that will support economic growth, create jobs and protect the environment. The Government of Canada has prioritized investments in cleantech to ensure Canadian companies are positioned to compete in this growing industry, expected to reach a value of 2.5 trillion-dollars by 2022.
Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, participated in Sustainable Development Technology Canada's annual public meeting to announce how 18 cleantech companies across Canada will leverage $56 million in funding to bring new and innovative clean technologies to market.
These innovations are having an impact across Canada. For example, Routific in Vancouver, British Columbia is reducing fuel costs and emissions in the last leg of the delivery supply chain; while in Quebec, software developer Kaloom Inc., is working to optimize the energy use of servers; and in Ontario, JDRF Electromag is developing new low-cost smart lighting for commercial buildings. From coast-to-coast-to-coast, Canadian cleantech companies are leading the way in tackling our environmental challenges.
Investments in clean technology are part of the Government's Innovation and Skills Plan, a multi-year strategy that is positioning Canada to be a global center for innovation, creating good middle-class jobs right across the country.
"Canadians are leading the world's transition to a low-carbon economy, and clean technology is part of the solution. Our government is positioning Canadians to seize the opportunities created by cleantech to create good jobs and leave a cleaner planet for our kids."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
"SDTC fosters Canadian cleantech innovation by driving outcomes for companies as they commercialize their products and services globally. Canada's cleantech entrepreneurs are on the verge of breaking through. SDTC is proud to play a central role in supporting out Team Canada Cleantech leaders to Own the Podium."
– Leah Lawrence, President and CEO of Sustainable Development Technology Canada
- Canada is number one in the G20 for cleantech innovation. In January 2019, 12 Canadian companies were recognized on the 2019 Global Cleantech 100 List. One in ten companies named to the annual Global Cleantech 100 List in the past two years have been SDTC partners.
- The clean technology market is set to exceed $2.5 trillion by 2022.
- Sustainable Development Technology Canada is a foundation created by the Government of Canada to support Canadian companies with the potential to become world leaders as they develop and demonstrate new technologies to address some of our most pressing environmental challenges.
- SDTC has invested over $1.15 billion in almost 400 companies. These companies are creating more than 13,000 well-paying jobs, and reducing greenhouse gas emissions by 18.1 megatonnes of carbon dioxide equivalent annually.
- In the past year alone, SDTC has supported 2,164 jobs in cleantech.
- The Clean Growth Hub works with companies to advance cleantech projects in Canada. The Hub's team of experts from across government helps clean technology developers and adopters identify the federal programs and services most relevant to their needs.
- List of cleantech projects receiving SDTC support
Follow the department on Twitter: @ISED_CA
SOURCE Innovation, Science and Economic Development Canada
For further information: 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@example.com; Sustainable Development Technology Canada, 613 234 6313, firstname.lastname@example.org