More than $55 million to support R&D on clean solutions in the energy, agricultural and resources sectors
TDS News – Canada continues to is make investments that will lay the groundwork for a stronger, greener and more resilient economy, which will create opportunities for all Canadians.
A strong economic recovery will be built on Canada’s leadership in growing markets in the low-carbon economy. That is why it is pivot that the Canadian government is support Canadian innovators in clean technology, as the solutions they create will support well-paying jobs for Canadians and help contribute to the global fight against climate change.
Today François-Philippe Champagne Minister of Innovation, Science and Industry, announced investments of $55.1 million in 20 clean technology companies across Canada through Sustainable Development Technology Canada (SDTC). This funding will support small and medium-sized companies that are developing innovative solutions to help reduce greenhouse gas emissions, lessen the environmental impacts of conventional mining methods and support more sustainable agricultural practices.
“As Canada continues to navigate the uncharted waters of the global pandemic, our government is making the investments now that will allow us to come together for change to build a stronger, greener and more resilient economy. With today’s support, we are securing Canada’s leadership in the large and growing global clean technology market and ensuring a more sustainable future for all Canadians.” — François-Philippe Champagne, Minister of Innovation, Science and Industry
Today’s support also builds on the government’s strengthened climate plan, A Healthy Environment and a Healthy Economy, announced by Prime Minister Trudeau on December 11, which included an investment of $750 million over five years to re-capitalize SDTC. This investment—the single largest investment in SDTC ever made by the Government of Canada—will enable SDTC to support even more Canadian entrepreneurs as they develop and commercialize clean technologies and bring Canadian innovations to the world.
The world is recognizing Canada’s leadership in the clean technology space. Eleven Canadian companies—nine of which were funded by SDTC—were recently placed on the 2021 Global Cleantech 100 list.