Government of Canada Invests Over $13.4 Million in British Columbian Clean Technology Companies

Strategic Insights -

The Government of Canada has announced over $13.4 million in funding for local clean technology companies in British Columbia, with the goal of creating quality jobs and supporting Canada's commitment to achieve net-zero carbon emissions by 2050. The funding will support the growth of the clean technology industry in the province, with a focus on companies that are developing innovative solutions to reduce greenhouse gas emissions and improve environmental sustainability.

Key Takeaways:

  • Loop Energy Inc., a key supplier of hydrogen fuel cell systems, is receiving $9.75 million in funding through PacifiCan's Jobs and Growth Fund to increase its manufacturing capacity and create 119 new jobs in Burnaby.
  • Acuva Technologies Inc., a Burnaby-based clean technology company, is receiving $3 million through PacifiCan's Business Scale-Up and Productivity (BSP) program to improve existing products, commercialize new ones, and create over 30 new jobs.
  • CORE Energy Recovery Solutions Inc., a Vancouver-based innovator, is receiving $673,050 in BSP funding to commercialize its fuel cell humidifier prototype and create nine new jobs.
  • The Government of Canada's investments in clean technology will improve the competitiveness of the clean tech cluster in BC, generate millions in increased revenue for local companies, and create 159 new jobs.
  • The funding will support the development of innovative solutions to reduce greenhouse gas emissions and improve environmental sustainability, in line with Canada's commitment to achieve net-zero carbon emissions by 2050.
  • Companies such as Loop Energy, Acuva, and CORE are creating innovative solutions to the challenges of climate change, and these investments will help Canada transition to a green economy and create well-paying jobs for British Columbians.

Statistics:

  • $13.4 million: the total amount of funding announced by the Government of Canada for local clean technology companies in British Columbia.
  • $9.75 million: the amount of funding received by Loop Energy Inc. through PacifiCan's Jobs and Growth Fund.
  • 119: the number of new jobs expected to be created by Loop Energy's project.
  • $3 million: the amount of funding received by Acuva Technologies Inc. through PacifiCan's Business Scale-Up and Productivity (BSP) program.
  • 30: the number of new jobs expected to be created by Acuva Technologies' project.
  • $673,050: the amount of funding received by CORE Energy Recovery Solutions Inc. through BSP.
  • 9: the number of new jobs expected to be created by CORE Energy Recovery Solutions' project.

Sources:

  • Government of Canada (2022) "Government of Canada Invests in British Columbia's Clean Technology Industry"
  • Loop Energy Inc. (2022) "Loop Energy Receives Funding from PacifiCan"
  • Acuva Technologies Inc. (2022) "Acuva Technologies Receives Funding from PacifiCan"
  • CORE Energy Recovery Solutions Inc. (2022) "CORE Energy Recovery Solutions Receives Funding from PacifiCan"