Sustainable Development Technology Canada

Sustainable Development Technology Canada
Russell Mitchell Group

Russell Mitchell Group

March 25, 2010 15:00 ET

Creating the Cleantech 20 by 2020: Cleantech Sector Poised to Be a Key Engine of Canadian Economic Growth

2010 SDTC Cleantech Growth and Go-To-Market Report released today

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2010) - Canada's first comprehensive national report on the cleantech sector was released today at Globe 2010. Based on input from over 160 cleantech companies, the 2010 SDTC Cleantech Growth & Go-to-Market Report found that the cleantech sector is on the cusp of being the green engine driving Canada's economic growth.

Among the key findings, the Report found that the clean technology sector grew at an annual growth rate of 47% during the 2008-2009 recession and is poised to reach 117% growth between 2010 – 2012. 

"Cleantech companies are stepping up to meet and drive market demand, both domestically and abroad," said Iain Black, British Columbia Minister of Small Business, Technology and Economic Development. "Canadian companies are leaders in carbon capture and storage, water and waste-water management, power generation, recycling, and energy efficiency – all important avenues to both tackle climate change and drive British Columbia's – and Canada's – low-carbon economy."

The Report also outlines a game plan to establish "20 by 2020" – twenty $100 million Canadian cleantech companies by the year 2020. In order to meet this goal, the Report outlines areas that government and the private sector need to address to take the next step.

"The 2010 SDTC Cleantech Growth & Go-to-Market Report found that Canada's cleantech companies have the opportunity to sell, however they are undercapitalized relative to peers from other jurisdictions," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "A better investment environment to drive commercialization and growth is needed to seize Canada's cleantech opportunity."

This Report, produced by the Russell Mitchell Group, aims to make a contribution to building a globally-competitive Canadian clean technology industry.

"The Canadian cleantech industry has plenty of potential to build globally-competitive companies," said Céline Bak, Partner with the Russell Mitchell Group. "Yet, a thriving Canadian cleantech industry will depend on more than just technological innovation; we will need to become world-class marketers and business managers, too."

B minus for the industry

The 2010 SDTC Cleantech Growth & Go-to-Market Report gave the Canadian clean technology sector overall a B minus, applauding the important strengths but also in recognition of areas needing urgent improvement in terms of the business environment for investing, the management of individual companies and government policy to foster growth.

Creating an online database to stimulate growth

The Report is complemented by an on-line database containing 436 companies with a view to making the industry more readily accessible to company managers, investors, procurers and government officials.

Sponsors, partners, and supporters of the Report include: Alberta Innovates – Technology Futures; BC Hydro; BDC; British Columbia Innovation Council; C3E; Cenovus Energy; Climate Change Central; CVCA; EnCana; Enterprise Saskatchewan; Enviro-access; Environment Canada; Export Development Canada; Foreign Affairs and International Trade Canada; Government of Manitoba; Greening Greater Toronto; Industry Canada; LifeSciences British Columbia; Lixar; Natural Resources Canada; OCETA; OCRI; Ogilvy Renault LLP; OMERS; Ontario Ministry of Research and Innovation; Quebec Ministry of Economic Development, Innovation and Export Trade; RBC; SpringBoard West Innovations; Stonewood Group; TMX Group; Western Economic Diversification Canada; and XPV Capital.

An executive summary and the full Report can be found at 

About Russell Mitchell Group

The Russell Mitchell Group is an advisory firm focused on technology commercialization in the clean technology and ICT sectors.

Founded by industry veterans with decades of operating and consulting experience, Russell Mitchell delivers strategic advice and operational support to emerging technology businesses, investment firms, and financial institutions. Working with company leaders to identify and capitalize on opportunities for growth, Russell Mitchell has helped some of Canada's most successful technology companies become global market leaders. Bringing insight and expertise gained by working with hundreds of companies across Canada and unparalleled proprietary industry research, Russell Mitchell offers: Business Planning; Corporate and Product Strategy; Technology Licensing; Go-to-Market Strategy; Strategic Planning; Business Risk and Performance Management; International Expansion; Hands-on Operational Support; Due Diligence; and Industry and Market Research.

About SDTC

Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government's commitment to create a healthy environment and a high quality of life for all Canadians. 

SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.

SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate.

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