Canadian government invests $26.3 million in four cleantech companies

The Canadian government announced that it is investing a total of $26.3 million in four cleantech companies.

Navdeep Bains, the Minister of Innovation, Science, and Economic Development, announced the funding at the Sustainable Development Technology Canada’s (SDTC) Cleantech Leadership Summit.

“These companies are great examples of how Canadian innovations are poised to improve Canada’s economy while protecting the environment.”
– Leah Lawrence
 

Burnaby-based D-Wave Systems, which is developing quantum computing systems that aim to reduce emissions from high-performance computing, will receive $10 million; Vancouver-based Ionomr Innovations, which has developed a membrane system for water treatment and purification, will receive $2.3 million; Vancouver-based MineSense Technologies, which is using sensor technology and data analytics to make the mining process cleaner, will receive $4 million; and Calgary-based MEG Energy Corp., which is developing a way to improve bitumen recovery in oil sands development, will receive $10 million.

“Our government’s investments in cleantech reflect our commitment to protecting the planet and growing our economy. They also point to a clear direction for economic development through innovation,” said Bains. “That’s because innovations in cleantech have the potential to create thousands of well-paying middle-class jobs for Canadians. That’s how innovation leads to a better Canada.”

The government said the four companies are part of a group of over 300 companies that have received funding from SDTC. SDTC is a government foundation that aims to advance cleantech innovation in Canada by supporting small and medium-sized companies developing clean tech solutions.

“These companies are great examples of how Canadian innovations are poised to improve Canada’s economy while protecting the environment,” said Leah Lawrence, president and CEO of SDTC. “SDTC’s investments in D-Wave, MEG Energy, MineSense, and Ionomr will deliver environmental benefits to multiple industries and demonstrate our government’s commitment to helping businesses scale and compete on the global stage.”

Photo via Twitter.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.