Canada Invests $750 million in Cleantech Entrepreneurs Through SDTC
December 11, 2020
The Government of Canada today announced $750 million commitment to support Canada’s growing cleantech sector by recapitalizing Sustainable Development Technology Canada (SDTC), as part of its plan: A Healthy Environment and a Healthy Economy.
This commitment comes at a critical time for Canadian entrepreneurs, as businesses of all sizes adapt to meet the current economic realities. This funding also charts a path for Canada’s economic future, enabling cleantech companies to grow and scale to meet domestic and global demand for solutions in the Net Zero era.
“Continued support for Sustainable Development Technology Canada is critical for cleantech startup and scale-up companies to build Canada’s clean industrial advantage,” said Innovation, Science and Industry Minister Navdeep Bains. “Our Government’s plan will create economic growth, cut pollution, and ensure Canadians continue to have good-paying jobs by supporting the entrepreneurs who are making low-carbon products that the world wants to buy now and into the future.”
“Today’s announcement will be very welcome news for our companies across Canada,” said Chair of SDTC’s Board of Directors Annette Verschuren. “Clean technology is revolutionizing our world, and Canadian entrepreneurs are leading the way. From transforming waste into source materials, to reducing greenhouse gas emissions, and creating cleaner air, water and soil, SDTC companies are developing world-class solutions that are being deployed and delivering real environmental benefits.”
Canada has joined countries around the world, including China, the UK, France, and Japan, in introducing legally binding Net Zero commitments. Hundreds of multinational corporations, as well as major Canadian companies such as Maple Leaf Foods, Shopify and Canadian Natural Resources have also made the commitment to achieving Net Zero. With industries scouring the world for technologies that can help them take all emissions and waste out of their businesses, the market for sustainable solutions is growing exponentially.
As the largest funder of cleantech small and medium size enterprises in Canada, SDTC plays a crucial role in supporting entrepreneurs to seize the opportunities of the Net Zero economy. The Government of Canada’s commitment will enable SDTC to keep the momentum going and support even more Canadian cleantech entrepreneurs in the coming years.
“Today’s announcement is about the entrepreneurs who will lead the transition to a zero-carbon, zero-waste economy,” says SDTC President and CEO Leah Lawrence. “Canadian cleantech companies doing extraordinary things, and we’re proud to keep supporting them as they create economic and environmental prosperity for Canadians.”
Do you have a game changing technology? We’re always looking for qualified small to medium sized companies to fund. Read more here to find out if we’re a match.