QUÉBEC CITY, Feb. 16, 2015 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today announced funding totalling over $29.5 million to support the development of clean technologies in Quebec. The funding was provided through Sustainable Development Technology Canada's (SDTC) SD Tech Fund™ in support of six projects that will further the Government of Canada's goal of creating and protecting jobs and opportunities.
Through SDTC, over $25 million will support the following four projects:
- Nemaska Lithium Inc. will receive $12,870,000 to produce higher-purity lithium hydroxide and carbonate in a pilot demonstration project aimed at lowering costs associated with electric vehicle use
- CelluForce Inc. will receive $4,004,000 to improve and optimize their process to extract nanocrystalline cellulose (CelluForce NCC™) from dry wood pulp and ultimately develop applications for the oil and gas sector.
- Fractal Systems Inc. will receive $3,700,000 to facilitate the bitumen reduction process and lower the cost of transporting the product.
- Orbite Aluminae Inc. will receive $4,500,000 to further a process that turns waste into marketable products including elements essential to manufacturing aluminum.
In addition to today's SDTC announcement, Minister Rickford also announced funding of $4.5 million through the ecoENERGY Innovation Initiative (ecoEII) for the following two projects:
- TM4 Inc. will receive $3,744,768 for a project aimed at developing low-cost wheel motors for electric and hybrid vehicles.
- L'Institut de recherche d'Hydro-Québec (IREQ) will receive $800,000 to explore the potential for deep geothermal electricity production for Quebec and Atlantic Canada.
- SDTC's SD Tech Fund™ has supported 269 projects with $684 million allocated from federal government funding.
- 57 of the more mature companies supported by SDTC have received $2.5 billion in follow-on financing as of December 2013, meaning that for every dollar invested by Canada in these companies the marketplace has responded with $14 of private capital.
- The global demand for energy is expected to grow by about one-third over the next 25 years.
- The SD Tech Fund™ supports projects that address climate change, air quality, clean water and clean soil, providing solutions to key Canadian industries that increase efficiency and enhance environmental responsibility.
- In Budget 2013, the Government of Canada provided SDTC with an additional $325 million over eight years to continue supporting the development and demonstration of new, clean technologies that create efficiencies for businesses and contribute to sustainable economic development.
- The ecoENERGY Innovation Initiative, announced in Budget 2011, is investing $268 million, over five years (2011–2016), in a comprehensive suite of research, development and demonstration projects.
"Our Government is positioning Canada as a global leader in the clean technology sector by supporting innovative projects aimed at growing our economy while contributing to a cleaner environment. By developing our resources responsibly, exploring next-generation transportation and advancing clean energy technology, the projects announced today will create jobs and improve innovation opportunities in Quebec and across Canada."
The Honourable Greg Rickford
Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario
"The projects announced today are great examples of the Canadian clean tech initiatives and true entrepreneurship that drive SDTC's portfolio. By supporting these innovative technologies, SDTC is investing in efficiency and environmental performance — which translate into a cleaner environment. We look forward to working with these companies to get their products closer to commercialization."
Acting CEO of Sustainable Development Technology Canada (SDTC)
Backgrounder – Government of Canada and SDTC Announce New Clean Technology Funding
Backgrounder -- ecoENERGY Innovation Initiative
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SOURCE Natural Resources Canada
For further information: Media may contact: Alexandra Lemieux, Press Secretary, Office of the Minister of Natural Resources, 613-996-2007; Media Relations, Natural Resources Canada, 613-992-4447, Kelly Crowe, Communications, SDTC, 613-234-6303 ext. 243; The general public may contact:Mon.-Fri., 8:30 a.m.-4:30 p.m. EST, Telephone: 613-995-0947, E-mail: firstname.lastname@example.org