HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 15, 2013) - On behalf of Canada's Minister of Natural Resources, the Honourable Joe Oliver, Senator Thomas Johnson McInnis announced today that the Government of Canada, through Sustainable Development Technology Canada (SDTC), will make important investments in a clean technology project in Nova Scotia.
This project, in which the federal government is investing $5 million, is part of 23 new clean technology projects being supported today across Canada through an investment of $61.8 million from SDTC's SD Tech Fund™. This fund is helping realize the commercialization of clean technology in many sectors of the economy including agriculture, transportation, mining and energy.
"Our Government is doing its part to encourage innovation and the next wave of clean technologies to help protect our environment and create high-quality jobs," said Minister Oliver. "Investments in projects such as these demonstrate our leadership in driving a vibrant clean technology industry in Canada."
"SDTC is proud to add these projects to its portfolio, now valued at more than $2 billion. When purchased and used by Canadian industry, these technologies will enable a variety of sectors to increase their share of global markets," said Dr. Vicky Sharpe, President and CEO of SDTC. "As Canada works to diversify its export markets, working with new trading partners in emerging countries, these innovative technologies will help make Canadian natural resources and products more globally attractive and competitive."
Atlantis Resources Corporation is striving to develop turbine equipment that can withstand the extreme conditions of the Bay of Fundy tides and successfully harness its energy.
"This investment is good news for Nova Scotia as we strive to advance Canada's clean technology industry," said Senator McInnis. "New clean technology projects, like those announced today, stimulate our local economy while helping protect the environment."
Over the past ten years, Sustainable Development Technology Canada's SD Tech Fund™ has supported more than 245 projects and allocated $592 million.
NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.