OTTAWA, ONTARIO--(Marketwire - March 21, 2013) - Sustainable Development Technology Canada (SDTC) today congratulated the Government of Canada on the additional $325 million over eight years committed in Budget 2013 for investment in Canadian cleantech companies.
"The investment announced today will continue Canada's leadership in commercializing innovative clean technologies, supporting a thriving part of Canada's economy, a source of high-paying jobs and growth for Canadian companies and an important part of Canada's future prosperity," said Vicky Sharpe, President and CEO of SDTC. "This support will allow SDTC to continue putting innovation to work in a sector that could bring in as much as $62 billion and employ 126,000 by 2020."
To date, through its SD Tech Fund™ SDTC has allocated $592 million to 245 clean technology projects, leveraged by $1.5 billion primarily from industry. SDTC has a total portfolio value of over $2 billion. These investments have been bolstered by an additional $2.3 billion from the private sector in follow-on financing into SDTC's more mature companies, leading to a 15 times leveraging of the Government's investment.
Government-supported Canadian cleantech companies are delivering returns by improving the productivity of Canada's natural resources and manufacturing sectors. These companies are showing their global competitiveness through the attraction of international capital and improving their ability to capture Canada's share of the fast growing global cleantech market. Today's announcement is an important message to the Canadian cleantech sector that the Government believes in their current contribution and future potential.
For more details, visit the SDTC website at www.sdtc.ca
On behalf of the Government of Canada, SDTC helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is demonstrating that cleantech is a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $590 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 works with the private sector, the financial sector and all levels of government to meet the Government of Canada's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation.