Technology Blog

Canadian Cleantech Companies Receive Over $40 Million In Funding From Federal Government

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On June 18, 2020, Navdeep Bains, Minister of Innovation, Science and Industry announced an investment of $41.8 million in ten Canadian clean technology (“cleantech”) companies. These investments are part of the Federal Government’s Innovation and Skills Plan, a multi-year strategy adopted to increase Canada’s cleantech competitiveness on a global scale, develop tools to build a more sustainable economy, and create high-quality middle-class jobs.

Minister Bains said, “Cleantech companies … are helping to position Canada as a leader in an expanding market [and] support the work of Canadian innovators to reduce Canada’s environmental footprint.” As Canada is already ranked first in the G20 for clean technology innovation, these investments provide Canada with a further competitive advantage in the global cleantech market. Currently, the cleantech industry employs nearly 200,000 Canadian nationwide, with a high average salary of $90,000. The cleantech sector is experiencing substantial growth, with an expectation that the global market will exceed $2.5 trillion by 2022.

The funding is provided through Sustainable Development Technology Canada (“SDTC”). SDTC is a foundation created by the Federal Government with the object of providing assistance to Canadian companies in producing and accelerating the implementation of cleantech solutions. Since 2001, the Federal Government has committed a total of $1.36 billion to SDTC. Cleantech companies that have received funding from the SDTC generate an estimated $2.7 billion in annual revenue.

The following cleantech companies have received investments:

Aspire Food Group ($10 million): Aspire is pioneering technology to farm insects that have the protein quality of meat and environmental footprint of plants. Among other production facilities, it is building the first fully automated cricket farm to accelerate the use of insect protein.

Anomera ($5 million): Anomera manufactures carboxylated cellulose nanocrystals using a patented eco-friendly method. Their product is creating new opportunities in large markets such as cosmetics and skin care, construction, etc. Some applications of their product include replacing plastic microbeads used in cosmetics products and improving the hydration of cement to significantly improve flexural and compressive strength.

Sollum Technologies ($5 million): Sollum Technologies has developed an artificial light solution that mimics natural light from the sun. It can be used at any time, anywhere, and during any season, in order to provide optimal efficiency for farming.

Click Materials ($4.6 million): Click Materials has produced a customizable electrochromic window solution designed to offer cost reductions and significant energy savings. It may be used in residential and commercial properties, as well as in vehicles.

Effenco ($4.25 million): Effenco has developed an electric system designed to shut down engines of commercial trucks when they are stationary, resulting in fuel savings of up to 10 percent, reductions of fuel and maintenance expenses, and reduced GHG emissions.

Quebe Technologies ($3 million): Quebe created an “Internet of Things” device that uses artificial intelligence to detect and reduce greenhouse gas emissions at oil and gas facilities.

Salient Energy ($3 million): Salient Energy has developed a new high-performance battery that may be produced at a lower cost. Its zinc-ion batteries for energy storage have much longer service life without any compromise of safety.

EcoPackers ($2.75 million): EcoPackers transforms plant-based by-products into 100% compostable replacements to traditional plastic inputs in manufacturing. Its solution is 100% eco-friendly and non-toxic.

CryoLogistics ($2.1 million): CryoLogistics has invented a container that uses liquid carbon dioxide as a natural refrigerant for shipping pallet loads of temperature-sensitive products. Its innovative design has a net zero carbon footprint while still retaining the reliable control of traditional refrigerants.

Pantonium ($2.1 million): Pantonium has developed a software that has transformed traditional fixed public transit routes into flexible routes that change with the demand of users. Their technology has been adopted to improve public transit in several cities, including Belleville, Ontario.

This latest round of investment highlights the Canadian Government’s continuing focus on enhancing the Canadian clean-tech ecosystem on the global stage.

Author: Eran Rubman, 2020 Summer Student-at-law

Photo Credit: https://unsplash.com/@hermez777

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