Canada’s Cleantech Fund Invests $62M

Sustainable Development Technology Canada’s (SDTC) SD Tech Fund is providing funding to the tune of $61.8 million for 23 clean technology projects in communities across the country in areas such as agriculture, transportation, mining and energy, the SDTC reported.

SD Tech Fund makes equity investments in Canadian enterprises focused on developing processes and technologies addressing climate change, air quality, clean water, and clean soil projects, noted peHub Canada.

According to peHub Canada, among the companies the fund is backing are Calgary’s Borealis GeoPower Inc., a developer of geothermal energy exploration technologies; Montréal’s Effenco Development Inc., a provider of energy efficiency solutions for heavy trucks; and Vancouver’s Whale Shark Environmental Technologies Ltd., a developer of marine hull-cleaning technologies.

“SDTC is proud to add these projects to its portfolio, now valued at more than $2 billion,” Dr. Vicky Sharpe, SDTC President and CEO, said in a release announcing SDTC’s effort.

“When purchased and used by Canadian industry, these technologies will enable a variety of sectors to increase their share of global markets.”

SDTC’s SD Tech Fund is so far supporting more than 245 projects and has allocated $592 million.

To read the PE Hub article cited in this story, click here

To read the SDTC press release, click here


Tags: Fundings

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