|October 25, 2007|
SDTC approves $30.3 million in new funding
|Toronto, Canada (GLOBE-Net) - Canada's clean tech economy reached a new milestone with the approval by Sustainable Development Technology Canada (SDTC) of $30.3 million in new funding for the development and demonstration of 14 clean technology projects. This new funding brings SDTC's investment portfolio over the $1 billion mark. |
The total value of the 14 new projects is $93.5 million, bringing the SD Tech Fund investment portfolio to $1.03 billion. "Our partnership with SDTC is providing Canadians with clean technology options that will improve their health now and in the future," said Natural Resources Minister Gary Lunn.
His views were echoed by Environment Minister John Baird, who noted "Today's announcement will ensure future generations of Canadians will continue to enjoy clean air, high-quality water and clean soil, while helping make this country a world leader on the environment."
Newly appointed SDTC Chairman Stephen Probyn observed that since the first SDTC funding round in 2002, there has been a twenty fold increase in financial support for clean technologies, much of which has followed the model set out by SDTC in terms of leveraged funding involving public and private investment.
Highlights of the current round of funding approvals include:
SDTC will launch the next call for Statements of Interest (SOI) for the SD Tech Fund on February 27, 2008. The upcoming call for SOIs will include a request for projects with technologies that address climate change, clean air, clean water and clean soil issues. Solutions that address more than one focus area are of greatest interest.
SDTC is an arm's-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions.
The $550 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
As a not-for-profit corporation SDTC has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.
A list of all 14 projects can be found here.
Round 11 Funded Projects
1. Biothermica Technologies Inc, Montreal, Quebec - Energy Utilization
2. Effenco Development Inc., Montreal, Quebec - Transportation
3. EnQuest Power Corporation, Fonthill, Ontario - Waste Management
4. EnviroTower Inc., Toronto, Ontario - Waste Management
5. Ferrinov Inc., Montreal, Quebec - Waste Management
6. GE Canada, Mississauga, Ontario - Transportation
7. Horizon Environnement Technologies, Quebec City, -Waste Management
8. HSM Systems Inc, Fredericton, New Brunswick - Power Generation
9. MSR Innovations Inc., Burnaby, British Columbia - Power Generation
10. Menova Energy Inc., Ottawa, Ontario - Energy Utilization
11. St-Jean Photochimie, St-Jean-sur-Richelieu, Québec - Power Generation
12. TM4 inc., Boucherville, Quebec - Transportation
13. Trilogics Technologies Inc, Vancouver, British Columbia - Energy Utilization
14. Vidir Biomass Inc., Arborg, Manitoba - Agriculture
For More Information: Sustainable Development Technology Canada