Cleantech in Canada just won’t slow down.
Investments keep coming as the government has just announced a $14.1 million investment into five of the country’s clean technology companies. The new money is meant to create a healthier environment and create sustainable middle-class jobs.
“Our government’s investments in clean technology reflect our commitment to protecting the planet,” said Navdeep Bains, Minister of Innovation, Science and Economic Development. “But they also point to a clear and strategic direction for economic development through innovation. That’s because innovations in clean tech will lead to products and services that have an impact on all sectors of the economy. And cleantech has the potential to create thousands of well-paying middle-class jobs for Canadians. That’s how innovation leads to a better Canada.”
The money will be spread among five companies:
- Calgary’s ATTAbotics will receive $3.3 million to help develop an automated fulfillment system to reduce costs in warehouse environments.
- Saint-Ferréol-les-Neiges, Quebec’s ClinnUp Technologies is getting $2.2 million to help change how municipal wastewater is treated through their biological process.
- Tilbury, Ontario’s New Rubber Technologies is picking up $4.1 million to continue developing their process of turning scrap rubber and plastic into new high-value materials.
- Oakville’s KmX Membrane Technologies is getting $1.1 million for their water treatment tech that can be applied to mine sites around the world.
- Mississauga, Ontario’s Springpower International is receiving $3.4 million to further their environmentally-conscious production of lithium-ion batteries.
The funding is coming from Canada’s Sustainable Development Technology fund that works to help early-stage cleantech companies grow their market.
“These projects are proof that Canadian clean technology innovators are developing game-changing technologies across every economic sector,” said Leah Lawrence, president and CEO, Sustainable Development Technology Canada. “ATTAbotics, Springpower, New Rubber Technologies, KMX and ClinnUp are a great representation of the wide range of world-class solutions being developed across the country—from warehousing robotics to water treatment, rubber recycling and the elimination of liquid waste, all while improving productivity.”
This investment is only part of a massive push Canada is making towards cleantech and energy producers. The SD Tech Fund will invest $400 million into cleantech to help create jobs and support the environment. In total, there are 800 companies in the sector, employing over 55,000 Canadians and generating $17 billion in revenue.
Canada is leading the clean technology sector, with success stories popping up both at home and abroad. Just this week, four Canadian companies landed in the top 10 for the Carbon XPRIZE, taking home $500,000 USD each, with a chance to compete for an additional $15 million.