Canadians invest another $149M in cleantech

Sustainable Development Technology Canada (SDTC) has allocated another $48 million CDN in new funding for the development and demonstration of 19 clean technologies.

SDTC grants are matched, or exceeded, by investment from industry. Private and public sector consortia partners behind the projects are investing an additional $101 million.

The 19 newly approved projects target sectors core to Canada’s economy including energy exploration and production, power generation, energy utilization, transportation, agriculture, forestry, wood products and pulp & paper products and waste management.

Highlights of this round’s technologies include a project by Advanced Lithium Power of Vancouver to develop advanced battery technology for hybrid vehicles and an initiative to improve the efficiency and cost-effectiveness of mid- to large-scale wind turbines by developing a permanent magnet wheel motor.

Another project being funded in this round is focusing on the development and demonstration of a microbial culture technology that may aid cleaning up chlorinated solvents (often used in the dry cleaning and printing industries) in an efficient and cost effective manner, while anther has the potential to reclaim lost value in polluted urban land by cleaning up PCBs.

Since April 2002, SDTC has completed ten funding rounds, committed $285 million to 125 clean technology projects, and leveraged $690 million from project consortia members, for a total portfolio value of $975 million.

“Because SDTC has been instrumental in developing awareness of clean tech in Canada, these funding announcements are keenly watched by North American venture capitalists as a source of high-quality investment opportunities,” said Vicky J. Sharpe, President and CEO of SDTC. “Yet again, we have a range of technologies—some early stage, some nearer to market—that have great potential.”

The nineteen projects, and lists of participating companies funded by the SDTC in this round, can be found here.

Sustainable Development Technology Canada is a not-for-profit foundation created by the Government of Canada.

In addition to the current fund, Canada's 2007 Federal Budget announced the creation of a new NextGen Biofuels Fund, also to be administered by the SDTC.