Canada invests in green tech
SDTC earmarks $40 million toward clean technology projects.Comments Off on Canada invests in green tech
Sustainable Development Technology Canada (SDTC) announced that eighteen Canadian clean technology projects will receive $40 million. The new investments bring SDTC’s total portfolio value to over $1.6 billion. The arm’s length foundation operates two development funds: the $550 million SD Tech fund supports projects that address climate change, air quality, clean water and clean soil, while the $500 million NextGen Biofuels fund supports the establishment of demonstration-scale facilities for the production of next-generation renewable fuels.
Funded projects span industries from automotive to clean electricity generation to CO2 capture. For example, Mississauga-based Electrovaya will receive CAD $5 million in support of the company’s high energy density Lithium Ion SuperPolymer battery and related systems technologies for a test fleet of plug-in hybrid electric vehicle (PHEV) versions of the Chrysler Ram 1500 pickup.
Similarly, EnerMotion Inc. of Caledon, Ontario will receive funding to help develop its the Hybrid Auxiliary Power Unit which captures waste exhaust heat, solar energy and braking energy and converts it to cooling, heating and electricity for use in heavy trucking cabs during extended idling times.
Great Northern Power Corp. will receive up to $4.5 million from Canada’s Clean Energy Fund and $2 million from SDTC for its demonstration project of converting waste heat from industrial engines into power. The technology is intended to recover waste heat from reciprocating engines operating at compressor stations and remote off-grid power generators to generate electricity.
In addition, Burnaby, B.C.’s InvenTyS Thermal Technologies Inc., will receive funding for its VeloxoTherm Gas Separation Process, which separates CO2 from flue gases produced by the combustion of fossil fuels to assist with Carbon Capture and Storage (CCS). A complete listing and description of all 16 is available on SDTC’s website.
As part of Canada’s Economic Action Plan, the Clean Energy Fund is investing $795 million over five years in clean energy technology development and demonstration. The Government of Canada’s support will help launch close to 20 projects under the renewable and clean energy portion of the Clean Energy Fund, totalling up to $146 million. Three carbon capture and storage projects have also been announced, totalling $466 million from the fund.