The Canadian government today announced seven clean technology projects in Ontario receiving investments totalling over $26.8 million.
The projects, announced by The Honourable Greg Rickford, Canada’s Minister of Natural Resources, along with Jane Pagel, Acting CEO of Sustainable Development Technology Canada, are benefitting from the government’s investment in SDTC’s SD Tech Fund through Canada’s Economic Action Plan.
Here are the companies, their projects and their new funding:
- Grafoid Inc. in Ottawa will receive $8,121,000 to develop low-cost, environmentally sustainable, high-quality graphene with a minimal environmental footprint.
- OTI Lumionics in Toronto will receive $5,700,000 to implement a pilot production line capable of producing high volumes of organic light-emitting diode (OLED) lighting panels.
- Ranovus Inc. in Ottawa will receive $4,250,000 for commercializing technology that streamlines data through data centres reducing energy consumption four-fold.
- Kelvin Storage in Toronto will receive $2,800,000 to develop a Thermal Matrix Energy Storage (TMES) system to reduce greenhouse gas emissions produced by industrial facilities worldwide.
- Polar Sapphire in Mississauga will receive $2,650,000 for an energy-efficient process to produce high-purity alumina, used in the production of synthetic sapphire.
- GaN Systems in Ottawa will receive $2,188,000 to maximize the efficiency of electric vehicle chargers connecting to the power grid, reducing wasted heat and cutting power losses while batteries charge.
- Ionada in Concord will receive $1,100,000 to produce a cost-effective, energy-efficient marine scrubber to remove sulphur oxides from ship exhaust.
Canada possesses one of the cleanest electricity mixes in the world with just under two-thirds of its electricity coming from renewable sources — the highest in the G7. In 2013, Canada was the second-fastest growing clean energy market in the G20.
SDTC’s SD Tech Fund has supported 269 projects with $684 million allocated by the federal government. 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.
“Our government is investing in advanced clean energy technologies that create well-paying jobs and generate economic opportunities,” said The Honourable Greg Rickford, Canada’s Minister of Natural Resources.