On Tuesday, the Government of Canada announced an investment of close to $13 million in four Calgary-based cleantech companies.
Amarjeet Sohi, minister of natural resources and MP for Edmonton Mill Woods, made the announcement on behalf of Innovation, Science and Economic Development (ISED), dividing $12.95 million in funds between the four companies.
E3P Technologies Inc. is being allocated $3 million for a zero-emission compressor that hopes to eliminate methane leaks from natural gas compression, with the goal of lowering greenhouse gas emissions.
Heavy oil and bitumen/asphalt focused tech company, Fractal Systems Inc. is receiving $7.2 million for the purpose of making it easier to ship and refine bitumen, which is used for road paving and roofing tiles. It tech products focus on reducing the environmental impacts of bitumen production.
“Our investments in these Calgary-based companies will have a direct impact across the oil and gas industries.”
–Minister Navdeep Bains
The government is giving $900,000 to Sultech Global Innovation Corp. to turn elemental sulphur, a by-product of energy development, into a soil additive that will improve the quantity and quality of crops.
Sensor-manufacturer and data-solutions company, TransRail Innovation Group is receiving $1.85 million that will go towards developing an electronic sensor for measuring the volume of a commodity inside a rail tank care. It aims to reduce the risk of spills while filling tank cars and eliminate works’ exposure to hazardous materials.
The multi-million dollar investment comes from the federal government’s Sustainable Development Technology Canada, with its goal of bringing cleantech companies to market. Along with the announcement made by Sohi, the government stated that the investment is also about jobs, as all four companies will create jobs in Alberta as they develop and commercialize products.
“When it comes to clean technology, Canada has the opportunity to be a true global leader, creating good middle-class jobs for Canadians while helping meet our climate change goals,” Bains said. “Our investments in these Calgary-based companies will have a direct impact across the oil and gas industries, reducing greenhouse gas emissions while improving worker and food safety.”
Last month, it was announced that 12 Canadian companies had been selected for the 2019 Global Cleantech 100 list, a guide for the world’s top companies in environmental technology innovation. Ten of these companies have received funding from Sustainable Development Technology Canada. The $13 million investment is not going towards the Canadian companies in the Cleantech 100 list.