Sustainable Development Technology Canada

Sustainable Development Technology Canada

June 17, 2010 16:56 ET

Establishing the Cleantech 20 by 2020: Cleantech Sector Poised to Be a Key Engine of British Columbia's Economic Growth

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2010) - The cleantech sector is on the cusp of being the green engine driving British Columbia's economic growth according to the BC Edition of Canada's first ever comprehensive report on the cleantech industry. The 2010 SDTC Cleantech Growth & Go-to-Market Report - BC Edition, authored by the Russell Mitchell Group, is based on input from 168 cleantech companies, including 37 in BC.

"In Vancouver, we are working closely with both the public and private sectors to strengthen the rapidly growing green economy," said Vancouver Mayor Gregor Robertson. "Reports like the SDTC Cleantech Growth and Go-To-Market Report are instrumental in providing us with a clear map for supporting the clean tech industry. Our city is striving to foster innovation, and we want to ensure that going green isn't just good for the environment, but good for business too."

 "As this report shows, BC has an active and growing base of emerging cleantech companies, and is home to nearly a quarter of the Canadian cleantech companies to have achieved commercialization," said Iain Black, Minister of Small Business, Technology and Economic Development. "Our government will continue to strengthen this important sector by creating a business and regulatory climate that encourages B.C. cleantech innovation, investment and exporting."

Key findings from the Report include:

  • BC has the highest ratio of cleantech companies to GDP in Canada – BC's ratio is 175 per cent.
  • The BC cleantech industry is dominated by companies specifically focused on power generation. Approximately 24% of BC cleantech companies focus on power generation.
  • BC's distribution channels for cleantech products and processes are, on average, less developed than the rest of Canada.

"Clean technology is being integrated into virtually every sector of Canada's economy, opening up new avenues of opportunity, creating jobs, and delivering essential environmental benefits to Canadian industries," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "This report will be a great tool for the industry and for all levels of government as we strive to bring BC's cleantech sector to its full potential."

 "The Canadian cleantech industry has plenty of potential to build globally-competitive companies," said Céline Bak, Partner with the Russell Mitchell Group. "But, being global technology leaders is that much harder when early adopter markets are far from home. A thriving Canadian cleantech industry depends on more than just technological innovation; we will need to build strong domestic markets while at the same time, investing in world-class commercialization for customers at home and abroad."

The Report also outlines a game plan to build "20 by 2020" – twenty Canadian cleantech companies having achieved $100 million in annual revenues by the year 2020. In order to meet this goal, the Report outlines areas that the BC government, the federal government and the private sector need to address. The recommendations address structural issues that stand in the way of the industry's potential success. These issues are:

  • The industry has commercially-ready products and is ready to grow, however it is chronically undercapitalized, receiving on average only 30% of the capital that US counterparts are able to secure at the same stage.
  • Domestic markets for clean technology companies in Canada are not dynamic. Green procurement by large procurers including government and large institutions is vital to the industry and is becoming a leading indicator for established industries to measure their own productivity improvement.
  • Management teams that invest in commercialization are rewarded by growth. Many companies are under performing because of systemic underinvestment in market-facing disciplines.

The Report, which is available in 5 editions (National, BC, Prairies, Ontario and Quebec) was produced by the Russell Mitchell Group in partnership with six provinces and five federal departments. Sponsors include OMERS, OCETA , BC Hydro, BC Innovation Council, Business Development Bank of Canada (BDC), C3E, Cenovus, Export Development Canada (EDC), Encana, Lixar, Ogilvy Renault, RBC and the Stonewood Group.

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. 

Contact Information

  • Sustainable Development Technology Canada
    Patrice Breton
    Director, Communications
    613-234-6313x295
    media@sdtc.ca
    or
    Vancouver Economic Development
    Katrina Tu
    604-632-9668x107
    ktu@vancouvereconomic.com