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Canadian government announces investments of $44.3M for 11 Canadian cleantech companies

Federal government announces support for cleantech companies.

OTTAWA — On May 27, François-Philippe Champagne, Minister of Innovation, Science and Industry, joined Sustainable Development Technology Canada (SDTC) Chair Annette Verschuren and SDTC President and CEO Leah Lawrence to announce investments of $44.3 million in 11 Canadian cleantech companies that are leading breakthrough Canadian cleantech innovations.

The funding announced on May 27 hopes to support small and medium-sized businesses that are reducing greenhouse gas emissions, reducing the environmental impacts of energy exploration and production, and supporting more sustainable agricultural practices.

Among the 11 companies that SDTC is funding today include:

• Terramera Inc. of Vancouver, British Columbia, will receive $7.9 million to develop a soil carbon validation tool;
• Pyrogenesis Canada Inc. of Montreal, Quebec, will receive $0.7 million to pioneer a new plasma process for the production of fumed silica;
• Molded Precision Components of Oro-Medonte, Ontario, will receive $9.3 million for its Pellet-to-Pallet Green Advanced Manufacturing of Plastics initiative;
• Flyscan System Inc. of Quebec City will receive $1.5 million for an aerial detector of liquid pipeline leaks; and
• Axine Water Technologies Inc. of Vancouver, British Columbia, will receive $6.2 million for the development and demonstration of a second generation, digitized wastewater treatment system.

The Minister held a virtual roundtable discussion with Canadian cleantech CEOs and entrepreneurs who are receiving SDTC funding to advance their innovations. These cleantech leaders discussed how these technologies are revolutionizing every sector of the economy, from Ecoation‘s AI-powered greenhouse management system, to QEA Tech‘s smart drone platform that detects building energy loss, to Environmental Material Science‘s novel process that accelerates the natural breakdown of pollutants in soil.

“Climate change is one of the greatest threats to Canadians and our economy, and Canadian innovation will be a key driver in the fight for a greener and cleaner future. Canadian cleantech innovation will be the driving force behind our green economic recovery. It will not only create thousands of good jobs, but also help build a sustainable future. With the investment we are making today, we are supporting the Canadian innovators who are helping to achieve our ambitious goal of a net-zero economy by 2050.” said François-Philippe Champagne, Minister of Innovation, Science and Industry.

The global clean technology market is set to exceed $2.5 trillion by 2022, and clean technology companies currently employ more than 211,000 Canadians.