Fund Grants CAN$6.61 million for Clean Tech

Sustainable Development Technology Canada (SDTC), a CAN$100 million (US$63 million) fund for the demonstration and commercialization of sustainable development technologies, has approved funding for 8 projects totaling CAN$6.61 million (US$4.19 million).

Ottawa, Canada – November 22, 2002 [] These funds are leveraged by an additional CAN$42.4 million (US$26.8 million) from the consortia. SDTC, which commenced operations in November 2001, is a funding organization mandated to foster the rapid development, demonstration and commercialization of innovative technological solutions, which address climate change and air quality. The foundation is an initiative of the Government of Canada, and operates as an arm’s-length, not-for-profit corporation. This is SDTC’s first funding announcement. “The board was impressed with the quality of responses as well as the scope of technological types and the different consortia that applied to the foundation. We are confident that the projects we have chosen will make a positive contribution to lowering emissions and improving our country’s economy. These companies benefit from our due diligence processes and expertise, and Canadians benefit from enhanced innovation and improved air quality. This is an impressive step forward for Canada,” said SDTC’s Chairman, James M. Stanford. SDTC has engaged some of Canada’s top emissions creators. Entrepreneurs from the emitting sectors are developing effective technologies to address GHG and CAC emissions. There are a wide range of technologies that have been submitted for consideration and these include: carbon sequestration linked to energy exploration and industrial processes; agricultural waste management; and energy utilization in the building and transportation sectors. The same sectors that are responsible for creating emissions are developing solutions that will help some of our most vital economic sectors — energy, forestry, agriculture, transportation, pulp and paper and construction — operate in a sustainable way. This fact is an important positive element in the ongoing debate on the Kyoto Accord that has been missing.