SDTC Approves $48M in Clean Tech Funding

October 23, 2007 // Published as a news service by IHS

The 19 newly approved projects target sectors core to Canada's economy, including energy exploration and production, power generation, energy utilization, transportation, agriculture, forestry, wood products and pulp and paper products and waste management.

Funding for each project is subject to final contract execution.

"Canadian companies and researchers have continued to innovate to produce another strong round of technology solutions," said SDTC Chairman James Stanford. "It has been an interesting and rewarding experience to see the entrepreneurial response to the opportunity that SDTC presents."

SDTC continues to see the alignment of new technologies with the priorities set out in its SD Business Cases. Combining comprehensive stakeholder input with objective SDTC analysis, these reports present a vision of Canada's future potential and investment opportunities in selected clean technology areas.

Some highlights of these technologies include:

• A project to develop advanced battery technology for hybrid vehicles. The development and demonstration of innovative technologies is essential in the automotive sector, as it is one of the largest and most economically important in the country.
• An initiative to improve the efficiency and cost-effectiveness of mid- to large-scale wind turbines by developing a permanent magnet wheel motor. This technology looks to reduce mechanical gearbox failure in existing turbines, while increasing the power-to-weight ratio.
• A project focusing on the development and demonstration of a microbial culture technology that may aid cleaning up chlorinated solvents (often used in the dry cleaning and printing industries) in an efficient and cost-effective manner.
• A project to reclaim lost value in polluted urban land by cleaning up polychlorinated biphenyls (PCBs). This novel technology could contribute to developing cities in a more sustainable fashion and freeing up unusable land for new development. This would increase the economic viability of the urban site and decrease urban sprawl.

"Clean and sustainable energy technology is a key part of creating a healthy environment for Canadians," said Gary Lunn, Canada's minister of natural resources. "Partnerships through SDTC, along with our government's ecoENERGY initiatives, will help us meet the challenge of moving beyond our current position as an energy superpower to become a clean energy superpower."

Since April 2002, SDTC has completed 10 funding rounds, committed $285 million to 125 clean technology projects and leveraged $690 million from project consortia members, for a total portfolio value of $975 million.

"Because SDTC has been instrumental in developing awareness of clean tech in Canada, these funding announcements are keenly watched by North American venture capitalists as a source of high-quality investment opportunities," said Vicky Sharpe, president and CEO of SDTC. "Yet again, we have a range of technologies - some early stage, some nearer to market - that have great potential."

Source: Sustainable Development Technology Canada (SDTC).