Government of Canada Announces Investment to Promote Clean Technology Projects and Help Support Job Creation
Calgary, Alberta, July 7, 2010 – Eighteen clean technology projects from across Canada that will help green Canada’s economy today received $40 million in funding to help move innovative technology solutions to the market. The announcement, confirming the decision of the Board of Directors of Sustainable Development Technology Canada (SDTC), was made today by the Honourable Jim Prentice, Minister of the Environment, and Dr. Vicky Sharpe, SDTC’s President and CEO.
“Our government continues to invest in projects that reflect our balanced approach to reducing emissions,” said the Honourable Jim Prentice, Minister of the Environment. “These projects will create high-quality jobs for Canadians now, and provide us with a healthier environment and sustainable prosperity in the future.”
“SDTC and the Government of Canada are providing industry the tools they need to become more productive, competitive and efficient,” said SDTC Chairman Juergen Puetter. “When these companies bring their technologies to businesses and consumers, they create jobs, provide Canada a technological edge and contribute to improving the quality of Canada’s air, water and soil”.
These innovative clean technologies involve many of Canada’s main economic sectors. Some highlights of this round include:
- Technologies that will help the oil and gas sector to reduce its environmental impacts by reducing its energy and clean water use as well as the risk of pipeline failures
- Technologies that could be used by the automotive, industrial freight and aviation sectors to become more environmentally friendly while remaining economically sustainable
- Technologies that will increase the efficiency and safety of wastewater treatment
These new investments bring SDTC’s total portfolio value to over $1.6B. SDTC’s SD Tech Fund™ has completed sixteen funding rounds, committing $478 million to 195 clean technology projects. These figures include adjustments made to the portfolio.
SDTC’s investments to date are creating Canadian green jobs, have attracted additional private sector investment of over $2.5 billion and are expected to deliver an overall reduction of greenhouse gas emissions of between 7 and 17 Megatonnes – the equivalent of taking up to 1.9 million homes off the grid.
“The convergence of clean technologies promises to revolutionize our existing industries, marrying environmental stewardship with economic prosperity,” said Vicky Sharpe, SDTC President and CEO. “These clean technologies allow our key industries, such as agriculture, transportation and oil and gas, to reduce waste, conserve power, minimize pollution and create new, value-added products all at once.”
The newly funded projects are representative of the investment priorities established in the SD Business Cases™, a series of six reports published by SDTC and which provide strategic insights into specific economic sectors (available in the Knowledge Centre section of the SDTC website at www.sdtc.ca). The latest report on industrial freight transportation was released on December 2, 2009. Other sectors previously studied include clean conventional fuels, renewable electricity and commercial buildings.
SDTC is an arm’s-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government’s commitment to create a healthy environment and a high quality of life for all Canadians.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
Detailed information on the 18 projects, including their descriptions, can be found here.
For more information, please contact:
Tel: 613-234-6313 ext 295
Office of the Minister
Natural Resources Canada