Sustainable Development Technology Canada

Sustainable Development Technology Canada

June 15, 2010 16:08 ET

Establishing the Cleantech 20 by 2020: Cleantech Sector Poised to be a Key Engine of Quebec's Economic Growth

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

MONTREAL, QUEBEC--(Marketwire - June 15, 2010) - SDTC welcomed the release today of the Quebec edition of Canada's first ever comprehensive report on the cleantech industry. The 2010 SDTC Cleantech Growth & Go-to-Market Report - Quebec Edition, authored by the Russell Mitchell Group,  is based on input from 168 cleantech companies, including 33 in Quebec.

"This report shows Quebec's strength in developing clean technologies and maps out a strategy to become even stronger," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "Strong domestic support is vital to attracting the capital needed to finance commercialization and compete in the global market. Governments have a continuing role to play in strengthening Quebec cleantech companies and building domestic markets."

Key findings from the Report include:

  • Quebec has twice as many cleantech companies founded on academically developed intellectual property (IP) than the national average. This is good news for Quebec cleantech, as academic IP is associated with high growth companies.
  • Quebec is a leader in developing water technologies, with more water companies than any other province.
  • On average, Quebec's cleantech companies are more mature than the rest of Canada's. The average age of a cleantech company in Canada is 14 years, while Quebec's average is 19 years.
  • Despite the maturity of its companies, Quebec's distribution channels for cleantech products and processes are, on average, less developed than the rest of Canada.

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 Quebec 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.
  • Management teams that invest in commercialization are rewarded by growth. Many companies are under performing because of systemic underinvestment in market-facing disciplines.

The release of the Report coincides with the opening of SDTC's new office in Quebec. "This new office will allow us to increase our connection and interaction with Quebec's cleantech sector," said Dr. Sharpe. "We look forward to working closer with our partners in Quebec to continue building the province's cleantech economy."

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
    613-234-6313 ext. 295
    media@sdtc.ca