Two Ottawa firms will reap the rewards of the federal government’s latest round of spending aimed at promoting clean tech.
Ranovus will receive $8 million from Sustainable Development Technology Canada to fund R&D on a power-efficiency solution for cloud-based infrastructure. The tech aims to reduce the costs and environmental impacts associated with the large amount of energy consumed by data centres.
Ranovus received $5.5 million from the same fund last year.
OBJ360 (Sponsored)
Connecting homebuyers with convenient, attainable options in Ottawa’s west end
Minto Communities has been building new homes, master-planned communities, and condominiums for almost 70 years across North America, always putting homeowners and homebuyers first. To ensure the best quality of
Foster employee wellness and show your appreciation with Ingenium
Helping employers better connect with employees, and their families, is the thinking behind the corporate memberships offering from Ingenium.
Giatec Scientific, which develops embedded sensors for the concrete industry, will get $2.4 million from the feds to reduce pollution and C02 emissions associated with making and pouring cement.
The two Ottawa firms are among 14 Canadian companies splitting a total $58.6 million in clean-tech funding announced by the federal government on Wednesday. A release states that the spending aligns with suggestions from the government’s Clean Technology Economic Strategies Table, which recommended funding Canadian clean-tech firms as they attempt to scale up.
A report released earlier this year from the Ottawa-based Smart Prosperity Institute pegged the global value of the clean-tech industry at $2.2 trillion by 2022, but noted that Canada has to “raise (its) game” if it wants its firms to compete.
The federal government allocated $2.3 billion for cleantech spending in its 2017 budget, including $400 million for the Sustainable Development Tech Fund and $700 million for the Business Development Bank of Canada over a five-year period.
