SDTC Invests $4.9 million in Oneka Technologies
April 12, 2023
OTTAWA—Sustainable Development Technology Canada (SDTC) is proud to announce an investment of $4.9 million in Oneka Technologies Inc.
Founded in 2015, this Sherbrooke, Quebec-based company is helping to solve freshwater scarcity through a wave-powered, GHG-free alternative to conventional fossil fuel desalination processes. Their innovative system will use natural wave energy to activate pumps installed on floating buoys on the ocean floor, avoiding the use of electricity to generate freshwater.
Today’s funding announcement was made by the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic development who visited Oneka’s demonstration facility in Carmen de Andacollo, Chile, as part of Canada’s trade mission to the country this week.
“As a growing global population further strain freshwater supply, Oneka’s cost-effective, zero-emission solution works to deliver freshwater to water-stressed coastal areas. SDTC is proud to support Oneka’s technology development as they work towards making the ocean a sustainable, accessible and affordable source of freshwater.”
—Leah Lawrence, President & CEO, SDTC
This is Oneka’s second project with SDTC, having received funding in 2020 as part of SDTC’s seed funding program. SDTC is proud to continue to support this innovative company as they prove their technology at scale.
As the largest funder of sustainable small and medium-sized businesses in Canada, SDTC helps entrepreneurs from seed to success.