Altitude Accelerator Clients Awarded SDTC Funding for Clean Technology Projects

Originally posted on SDTC website here

The Minister of Innovation, Science and Economic Development, Navdeep Bains, announced over $206 million in funding for 36 clean technology projects across Canada on 4th March 2016 in Edmonton, Alberta.

Investing in innovation, supporting clean technology and encouraging sustainable practices will help create jobs, expand access to international markets and make Canadian companies more competitive in the global economy.

The Minister announced the investment in Sustainable Development Technology Canada (SDTC) during his speech to the Alberta Enterprise Group. SDTC provides support for clean technology companies at a critical point in the innovation spectrum: it allows innovators to develop and demonstrate their technologies prior to entering the market.

To stay competitive, Canada must lead the way in innovation and must embrace opportunities to create the clean jobs of the future. The Government of Canada will continue investing in innovative clean technology projects that grow local economies and promote environmental sustainability.

Quotes
“Canadians understand that a healthy environment and a strong economy are not competing priorities. Now is the time for Canadian companies to capture their share of the global market for clean technology. From waste management to biofuels to greener solutions for the oil and gas industry, these Canadian companies are leading the world in intelligent, environmentally responsible and economically sound solutions in a number of key economic sectors.”
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

“The Government of Canada, and all Canadians, can take pride in the SDTC-supported Canadian companies that produce tangible environmental benefits that also make Canada’s economy more competitive. Since its inception, SDTC has grown Canada’s clean technology industry by funding more than 300 projects, resulting in the creation of 8,200 jobs for Canadians while reducing an estimated 4.5 million tonnes of CO2-equivalent greenhouse gas emissions per year.”
Leah Lawrence, President and CEO, Sustainable Development Technology Canada

“Natural gas is the clean energy choice that’s affordable. And the companies delivering it are driven by a commitment to innovation, finding ways to use natural gas to meet more and more of our energy needs. We build on that innovation through partnerships like the one we have with SDTC. Today’s announced investments in NextGrid and Hydrogenics are the latest results of that partnership, and we look forward to more.”
Timothy M. Egan, President and CEO, Canadian Gas Association

Quick facts

  • Sustainable Development Technology Canada (SDTC) is an arm’s-length foundation created by the Government of Canada to promote sustainable development and support projects that develop and demonstrate new technologies to address issues related to climate change, air quality, and clean water and soil.
  • The projects are benefitting from the Government of Canada’s investment in SDTC’s SD Tech Fund and NextGen Biofuels Fund. Furthermore, two of the projects are funded through the SD Natural Gas Fund, a public-private partnership between SDTC and the Canadian Gas Association.
  • SDTC invests in Canadian companies that, through their innovative technologies, contribute positively to Canada by creating quality jobs, driving economic growth and protecting the environment. Since its founding, SDTC has funded 316 clean technology projects.

NextGrid Inc.

Affordable Combined heat & Power System

Description
Businesses and consumers in North America depend on a patchwork of local providers to deliver electricity through what has become commonly known as the “grid”. This centralized model of delivering electricity to consumers is broken and the American Society of Engineers estimates that a $673-billion investment by 2020 will be required to fix the national grid in the United States. The result of this investment will be a steady increase in the price of electricity for consumers for years to come. To combat rising electricity prices, NextGrid Inc. proposes to decentralize electricity production. NextGrid’s combined heat and power (CHP) system is a revolutionary platform (patent pending) that uses a micro-steam turbine to generate heat and electricity; the generators are the most fuel-efficient in the world with up to 95 per cent of all fuel used converted to heat and/or electricity. NextGrid’s CHP technology can substantively lower our carbon footprint, with NOx emissions at an industry leading 0-3 PPM and a predicted 47-per-cent reduction in GHG emissions when compared to incumbent technologies. Note: The funding from SDTC for this project includes funds from the Canadian Gas Association.

Leveraged funding
$453 306.00

SDTC funding
$300 000.00

Total project value
$753 306.00

Pyrowave Inc.

Demonstration of recycling energy efficiency technology

Description
Recycling is a major component of environmental responsibility, yet the costs to haul, store, sort and process plastics are enormous. Pyrowave’s technology uses a patented technology that breaks down plastics using high heat produced by microwaves. This technology is packaged in small, modular units directly onsite at recycling facilities and at producers of plastic waste. This convenient and mobile approach will enhance the rate and range of recyclable materials, and will produce higher-value end products from waste plastics – products such as wax, oil and styrene monomer. The result is a technology that reduces waste landfilling, waste incineration and waste hauling via a net positive energy process. This project will produce a proven commercial-scale application of the technology.

Leveraged funding
$2 081 853.00

SDTC funding
$1 048 474.00

Total project value
$3 130 327.00

Recent Posts