Canada has announced a new investment of $12.3-million in water cleantech. This money will forward the work of two Canadian companies working to improve water consumption and quality in Alberta and British Columbia.
Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the federal investment of $26.3 million in four companies. The minister made the announcement at Sustainable Development Technology Canada’s (SDTC) Cleantech Leadership Summit. The third annual summit brought together 150 cleantech CEOs and thought-leaders to discuss opportunities for Canadian clean technology producers
“Our government’s investments in clean tech reflect our commitment to protecting the planet and growing our economy,” said Bains.
Canada is a #cleantech leader because we believe that the environment and the economy can – and must – go hand in hand. That’s why today I announced a $26.3M cleantech investment in innovative Canadian companies. #CdnPoli pic.twitter.com/1FdLPTj8BL
— Navdeep Bains (@NavdeepSBains) May 30, 2018
The four companies receiving funding today join the more than 300 others that SDTC has invested in since 2001. The investment announced today by Minister Bains includes:
- $10 million to MEG Energy Corp. of Calgary, Alberta, which is developing a way to improve bitumen recovery in oil sands development and production while reducing greenhouse gas emissions and water consumption.
- $2.3 million to Ionomr Innovations Inc. of Vancouver, British Columbia, which has developed a more efficient, durable and cost-effective membrane system for water treatment and purification, grid-level energy storage, and clean-tech energy generation.
- $10 million to D-Wave Systems Inc. of Burnaby, British Columbia, which is developing quantum computing systems that are more energy-efficient and help reduce emissions from high-performance computing.
- $4 million to MineSense Technologies Ltd. of Vancouver, British Columbia, which is making the mining process cleaner and more efficient using sensor technology and data analytics.
“SDTC’s investments in D-Wave, MEG Energy, MineSense and Ionomr will deliver environmental benefits to multiple industries and demonstrate our government’s commitment to helping businesses scale and compete on the global stage,” said Leah Lawrence, president and CEO, SDTC.