SD Tech Fund Invests $62M in Cleantech Initiatives


SD Tech Fund, which makes equity investments in Canadian enterprises that are developing processes and technologies addressing climate change, air quality, clean water, and clean soil projects, has invested a total of C$61.8 million in 23 new projects. Companies backed by the fund include Calgary’s Borealis GeoPower Inc., a developer of geothermal energy exploration technologies, Montréal’s Effenco Development Inc., a provider of energy efficiency solutions for heavy trucks, and Vancouver’s Whale Shark Environmental Technologies Ltd., a developer of marine hull-cleaning technologies. SD Tech Fund is managed by Sustainable Development Technology Canada.

PRESS RELEASE

Harper Government Announces Clean Technology Projects Across Canada

MONTREAL — The Honourable Joe Oliver, Canada’s Minister of Natural Resources, today was joined by the Honourable Peter Kent, Minister of the Environment, to announce an important investment to support 23 clean technology projects in communities from coast to coast to coast.

Funding for the projects, which totals $61.8 million in areas such as agriculture, transportation, mining and energy, is being provided through Sustainable Development Technology Canada’s (SDTC) SD Tech Fund™.

“Our Government is doing its part to encourage innovation and the next wave of clean technologies to help protect our environment and create high-quality jobs,” said Minister Oliver. “Investment in projects such as these demonstrates our leadership in driving a vibrant clean technology industry in Canada.”

“Our Government’s investments in clean technologies are supporting innovation, jobs and Canada’s rapid transition toward a greener future,” said Minister Kent. “These new projects can only strengthen our position as a global leader in clean technology — something all Canadians can be proud of.”

Minister Oliver and Minister Kent met with representatives of some of the companies receiving funding today. They were joined by Dr. Vicky Sharpe, SDTC President and CEO.

“SDTC is proud to add these projects to its portfolio, now valued at more than $2 billion,” said Dr. Sharpe. “When purchased and used by Canadian industry, these technologies will enable a variety of sectors to increase their share of global markets. As Canada works to diversify its export markets, working with new trading partners in emerging countries, these innovative technologies will help make Canadian natural resources and products more globally attractive and competitive.”

Sustainable Development Technology Canada’s SD Tech Fund™ has to date supported more than 245 projects and allocated $592 million.

Photo courtesy of Shutterstock.

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