OTTAWA – Export Development Canada has provided a guarantee to support a $1 million credit facility extended by a Canadian bank to Clear Blue Technologies – a Canadian cleantech company that helps remotely manage and control power for critical infrastructure in 35 countries worldwide.
“For promising cleantech companies like Clear Blue Technologies, we know that with the right support they can seize incredible growth opportunities through international trade,” said Carl Burlock, senior vice-president of Financing and International Growth Capital at EDC, in a prepared statement. “We are dedicated to supporting Canadian cleantech companies, providing them with knowledge and financial solutions to help them succeed internationally.”
The engineers at Clear Blue Technologies developed smart off-grid technology that remotely manages, monitors and controls wind, solar and hybrid-powered systems such as a telecom tower, street light or security camera. EDC says this technology has already helped bring internet and cell service to people in the Amazon rainforest and in isolated parts of Africa.
“EDC has been at the table helping us build our company from an early stage. The support we have received will provide us with working capital flexibility to deliver on larger orders, adding to our growth this year,” said Miriam Tuerk, Clear Blue Technologies co-founder and CEO. “In emerging markets, financing isn’t an afterthought, it has to be part of your deal, so having EDC by our side makes a significant difference.”