Federal government to invest in B.C.’s growing cleantech sector
by CM Staff
More than $13.4 million will try and support British Columbian businesses to create quality jobs and support Canada's commitment to achieve net zero carbon emissions by 2050.
Government of Canada invests in British Columbia’s growing clean technology sector (CNW Group/Pacific Economic Development Canada)
BURNABY — On May 3, Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced over $13.4 million in funding for local clean technology companies, including $9.75 million for Loop Energy Inc. (Loop), based in Burnaby.
Loop is a supplier of hydrogen fuel cell systems, which support the transition to a green economy. With funding through PacifiCan’s Jobs and Growth Fund, Loop will increase its manufacturing capacity, creating a more sustainable transportation sector in Canada by helping to commercialize zero-emission vehicles.
The funding will allow Loop to purchase new equipment and bring a key part of its manufacturing process in house, which will eliminate its reliance on international suppliers. The project is expected to generate significant revenues and 119 new jobs in Burnaby, producing new opportunities for the local workforce and hydrogen-related companies.
Two other local clean technology companies are also receiving PacifiCan support.
Acuva Technologies Inc. (Acuva)
Acuva is receiving $3 million through PacifiCan’s Business Scale-Up and Productivity (BSP) program. The Burnaby-based clean technology company delivers water purification systems using proprietary Ultraviolet Light Emitting Diode (UV-LED) technology.
This funding will allow Acuva to improve existing products, commercialize new ones and bring them to market. The project is expected to increase revenues and create over 30 new jobs.
CORE Energy Recovery Solutions Inc. (CORE)
Vancouver-based CORE is also receiving $673,050 in BSP funding to commercialize its fuel cell humidifier prototype, a part of hydrogen fuel cell systems. With this funding, CORE will increase production and quality control, so that the company can make products for heavy-duty zero-emission vehicles, such as buses and trucks. The project is expected to create nine new jobs and bolster revenue for the company.
“Companies across Canada are creating innovative solutions to the challenges we are facing. These clean technology investments will help Canada transition to a green economy and create well-paying jobs for British Columbians.” said Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada.
