Sustainable Development Technology Canada to Provide $42.5 Million in New Funding For Canadian Clean Technology Projects
From Tar Sand Oil Extraction to Municipal Solid Waste Gasification, SDTC Funding Will Advance 15 Environmentally Friendly Technologies
OTTAWA, Oct. 20 /CNW/ - Sustainable Development Technology Canada (SDTC) will provide $42.5 million in new funding for clean technology projects. The funding, approved by SDTC's Board of Directors, will support the development and demonstration of groundbreaking clean technologies and fast-track their progress toward commercialization. Funding for each project is subject to final contract negotiations.
SDTC's seventh funding round involves 15 demonstration projects, each with strong potential to generate environmental, social and economic benefits. These include an initiative led by Plasco Energy Group Inc. to generate heat and power from the gasification of municipal solid waste in Ottawa, and another by Hatch Ltd., to extract oil from Alberta tar sands in-situ using an improved solvent extraction process requiring up to 95 percent less energy than conventional technologies.
"SDTC is committed to building Canada's sustainable development technology infrastructure through support for promising new clean technologies," said SDTC Chairman James M. Stanford. "Much more than a funding partner, we help entrepreneurs connect with partners, formalize business plans and qualify for venture-capital financing."
The 15 newly-approved projects involve a wide variety of sectors that are core to Canada's economy including power generation; energy exploration and production; agriculture; energy utilization; waste management; transportation; and forestry, wood products and pulp and paper products.
The private and public sector consortia partners behind the projects are investing an additional $91 million, representing a more than 2:1 ratio of industry-partner contribution to SDTC investment.
SDTC continues to be on track to allocate all of its funds up to December 2010.
"Through Project Green, the Government of Canada's broad environmental vision that links Canada's economic competitiveness and prosperity to a sustainable future, the federal Government strongly believes that technological advances and innovation will help Canada and the world achieve its environmental goals," said the Honourable Stéphane Dion, Minister of the Environment. "New technologies will provide Canadians with the ability to reduce their greenhouse gas emissions and improve our air quality, while enjoying the benefits of a competitive, productive and sustainable economy."
Since April 2002, SDTC has completed seven funding rounds, committed $169 million to 75 clean technology projects, and leveraged $446 million from project consortia members, for a total portfolio value of $615 million.
SDTC will launch its next call for Statements of Interest (SOIs) on January 18, 2006. The upcoming call for SOIs will include a request for projects with technologies that address climate change, clean air, and water and soil quality issues.
"The technologies represented in SDTC's seventh funding round offer significant potential to benefit Canada's economy and the world's environment," said Vicky J. Sharpe, President and CEO of SDTC. "It is gratifying to see a continuous flow of funding applications across all economic sectors, demonstrating SDTC's ongoing contribution to the Government of Canada's sustainable development initiatives. The applications we receive are exceptional both in quantity and strength."
About SDTC
Sustainable Development Technology Canada is a foundation created by the Government of Canada that operates a $550 million fund to support the development and demonstration of clean technologies - solutions that address issues of climate change and clean air, water and soil to deliver environmental, economic and health benefits to Canadians.
An arm's length, not-for-profit corporation, SDTC fills the void in the innovation chain between research and commercialization - helping clean technology developers move through the development and demonstration phases, in preparation for commercialization. SDTC applies a stringent due diligence process when selecting technologies to support and requires every applicant to involve a consortia of partners in their project.
SDTC encourages collaboration among private, financial, academic, public sector partners and with the Government of Canada and all levels of government to build a sustainable development infrastructure in Canada.
For further information: please contact: SDTC:
Andrée Mongeon,
Director of Communications, Sustainable Development Technology Canada, Tel: (613) 234-6313 x 224, a.mongeon@sdtc.ca http://www.sdtc.ca/ Don Hogarth, Environics Communications for SDTC, (416) 969-2755, dhogarth@environicspr.com