SDTC gives $48 million for 19 clean tech projects

Sustainable Development Technology Canada (SDTC) approves $48 million in new funding for the development and demonstration of 19 clean technologies that benefit both the environment and the economy. The approved projects are focused on clean tech in sectors key to Canada’s economy, including energy, transportation, agriculture and waste management. Among them is a project to develop advanced battery technology for hybrid vehicles, and an initiative to improve the efficiency and cost-effectiveness of mid- to large-scale wind turbines by developing a permanent magnet wheel motor. The funding announcement marked the tenth round of investment in clean tech by SDTC since its inception in 2002. “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,” says Vicky J. Sharpe, president and CEO of SDTC. A Government of Canada initiative, SDTC currently operates a $550 million fund established to help develop clean technologies that address such issues as climate change, clean air, clean water, and clean soil for the sake of the environment, economy and human health. With $690 million from project consortia members to date, it has distributed funding amounting to almost $1 billion for 125 clean technology projects in just over five years.

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