SD Tech Fund, a venture capital fund sponsored by Sustainable Development Technology Canada, has invested $14.7 million to commercialize clean technologies developed by four companies. These companies are: Macrotek, a specialist in factory exhaust scrubbing; Vive Crop Production, which is focused on crop protection technology; Switchable Solutions, a developer of technology to recover bitumen from ore, and; Solantro Semiconductor, a provider of scalable renewable energy nanogrids. SD Tech Fund has to date committed $598 million to 246 companies and projects.
Promising cleantech projects get Government of Canada support
The Government of Canada is showing its commitment to a green Canadian economy with an in investment of $14.7 million to help four new clean technology projects from across the country reach commercialization. The announcement was made today by the Honourable Joe Oliver, Minister of Natural Resources, and Dr. Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC).
“Canada must nurture highly skilled individuals and new ideas that will help our businesses innovate, secure new markets and create well-paying jobs,” said Minister Oliver. “By supporting advanced research and technology, our government is investing in Canadian prosperity and a cleaner environment.”
“The projects announced today are great examples of the Canadian innovation and entrepreneurship that characterizes SDTC’s portfolio, valued at more than $2 billion and brimming with innovative technological solutions,” said Vicky Sharpe, President and CEO of SDTC. “Canadian cleantech leaders are continuing to create economic opportunities and open up avenues to new export markets.”
The four innovative clean technologies involve many of Canada’s main economic sectors. Some highlights of this round include:
A technology that improves air quality by “scrubbing” gases from industrial exhaust;
A technology that helps reduce pesticide wastage by enabling targeted, more efficient application;
An innovation that brings down the cost of solar applications and improves connectivity to the grid; and
A technology that reduces water and energy use in the bitumen production process.
The newly-funded projects are representative of the investment priorities established in the SD Business Cases™, a series of six reports published by SDTC that provide strategic insights into specific economic sectors (available in the Knowledge Centre section of the SDTC website at http://www.sdtc.ca/).
SDTC’s SD Tech Fund™ has committed $598 million to 246 clean technology projects. These figures include adjustments made to the portfolio.
On behalf of the Government of Canada, Sustainable Development Technology Canada helps advance clean technologies towards commercialization. With a portfolio of companies under management valued at more than $2 billion, SDTC is positioning cleantech as a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC works with the private sector, the financial sector and all levels of government to support the Government of Canada’s commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation.
Detailed information on the four projects, including their descriptions, can be found online at http://www.sdtc.ca/.
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