The Government of Canada is investing nearly $8 million across three clean technology companies.
$5.5 million for Ranovus of Ottawa, which is exploring ways to reduce the amount of electricity required for companies to store information in the cloud. $1.45 million is for Heliene of Sault Ste. Marie, which has developed technology to make solar power more reliable and affordable. And BioLINE of London, which has found ways to take the biowaste from mushroom farms and convert it into valuable fertilizer, has secured $900,000.
“Our government’s investments in clean technology reflect our commitment to protecting the planet,” said David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development. “Innovations in clean tech will lead to products and services that have an impact on all sectors of the economy.”
These projects are being funded through Sustainable Development Technology Canada, which works with Canadian companies to bring early-stage clean technologies to market.
“From energy to agriculture, these companies demonstrate the strength and range of Ontario clean tech,” said Leah Lawrence, President and CEO, Sustainable Development Technology Canada. “The technologies they are building will deliver real environmental and economic benefits to Canadians.”
Investments in clean technology are part of the Government’s Innovation and Skills Plan, a multi-year strategy to create jobs for the middle class that includes investments of nearly $1.4 billion in new financing on a cash basis.