TORONTO, ONTARIO--(Marketwire - July 28, 2011) - Today, on behalf of Canada's Minister of Natural Resources, the Honourable Joe Oliver, Mark Adler, Member of Parliament for York Centre, and Ted Opitz, Member of Parliament for Etobicoke Centre, announced that the Government of Canada, through Sustainable Development Technology Canada (SDTC), will invest $7 million for clean technology projects in Ontario.
These projects are among 17 new clean technology projects being supported today across Canada through an investment of $53 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 committed to supporting clean energy technology in Canada as an effective measure to reduce greenhouse gas emissions and create high-quality jobs for Canadians," said Minister Oliver. "The projects announced today demonstrate our leadership in driving clean energy technology innovation to help create a viable clean energy industry in Canada."
"This investment is good news for the Province of Ontario, and the residents of York Centre, as we strive to advance Canada's clean technology industry," said MP Adler.
"New clean technology projects, like those announced today, stimulate our local economy while helping protect the environment," said MP Opitz.
Today's announcement includes investments of:
- $2 million to Solantro Semiconductor Corp. in Ottawa for a solar technology project;
- $1.6 million to Azule Fuel Inc. in Sarnia for a biodiesel technology project;
- $1.9 million to Paradigm Shift Technologies Inc. in Toronto for a surface coating project; and
- $1.5 million to Rail-Veyor Technologies Inc. in Lively for a rail haulage system.
"The benefits of clean technologies for Canadians are clear. However, the impact of innovation comes through commercialization: only when R&D reaches the market does it begin delivering results," said Vicky Sharpe, President and CEO of SDTC. "By helping promising clean technologies reach the market faster, SDTC is ensuring that Canadians can enjoy their economic and environmental benefits sooner."
Sustainable Development Technology Canada's SD Tech Fund™ has supported more than 220 projects and allocated $548 million, generating more than $1.3 billion in leveraged funds.
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