{"id":518,"date":"2017-11-24T14:22:46","date_gmt":"2017-11-24T14:22:46","guid":{"rendered":"https:\/\/sdtc-2024-staging.sociationdev.com\/?p=518"},"modified":"2020-01-05T17:21:06","modified_gmt":"2020-01-05T17:21:06","slug":"investing-in-ontarios-clean-tech-industry-will-cut-greenhouse-gases","status":"publish","type":"post","link":"https:\/\/sdtc-2024-staging.sociationdev.com\/en\/investing-in-ontarios-clean-tech-industry-will-cut-greenhouse-gases\/","title":{"rendered":"Investing in Ontario\u2019s clean tech industry will cut greenhouse gases"},"content":{"rendered":"

Minister Hussen announces $9.5 million for two Toronto companies to develop new solar power and energy grid technologies.<\/h4>\n

Thanks to Government of Canada investments in the development of new clean technologies, Canadians could have greater access to less expensive energy-efficient solar power cells and innovative energy storage capability.<\/p>\n

The $9.5-million investment was announced today by the Honourable Ahmed Hussen, Minister of Immigration, Refugees and Citizenship, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.<\/p>\n

The investment in\u00a0Morgan Solar Inc.<\/a>\u00a0supports products based on the company\u2019s proprietary planar optical technology, which reduces the amount of expensive material required in solar panels. One version is the world\u2019s only translucent high-efficiency panel for building environments, and the other has the potential to be the lowest cost panel in the world for utility applications.<\/p>\n

The investment in\u00a0NRStor Inc<\/a>.\u00a0supports the development of greater energy storage capabilities for the Ontario electricity grid by proposing to store energy as compressed air and heat. This innovative system will create new business opportunities for Canadian energy companies.<\/p>\n

These projects are being funded through\u00a0Sustainable Development Technology Canada, which works with Canadian companies to bring their early-stage clean technologies to market.<\/p>\n

Investments in clean technology are part of the Government\u2019s\u00a0Innovation and Skills Plan<\/a>, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it. Investments in clean technology also support the Pan-Canadian Framework on Clean Growth and Climate Change.<\/p>\n

Quotes<\/h4>\n

Investments like those we are celebrating today are key to Canada\u2019s transition to a low-carbon economy. Clean tech innovation in solar power and energy storage is especially important as it helps us create more energy-efficient and environmentally friendly solutions.\u201d<\/p>\n

\u2013 The Honourable Ahmed Hussen, Minister of Immigration, Refugees and Citizenship<\/p>\n

\u201cThis investment will support the important work on improving renewable sources of electricity that NRStor Inc. is conducting at the MaRS Discovery District in Toronto. We must continue to make strategic investments in clean energy technology to address climate change and protect our planet.\u201d<\/p>\n

\u2013 The Honourable Chrystia Freeland, Minister of Foreign Affairs<\/p>\n

\u201cOur government\u2019s investments in clean technology reflect our commitment to protecting the planet. But they also point to a clear and strategic direction for economic development through innovation. That\u2019s because innovations in clean tech will lead to products and services that have an impact on all sectors of the economy. And clean tech has the potential to create thousands of well-paying jobs for Canadians. That\u2019s how innovation leads to a better Canada.\u201d<\/p>\n

\u2013 The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development<\/p>\n

\u201cThese technologies are game-changers in two critical fields: Morgan Solar\u2019s technology will make solar energy more efficient, more flexible and more affordable for consumers; and NRStor\u2019s energy storage builds critical capacity for electricity. SDTC\u2019s funding helps these two companies create real environmental and economic benefits for all Canadians.\u201d<\/p>\n

\u2013 Leah Lawrence, President and CEO, Sustainable Development Technology Canada<\/p>\n

\u201cOur mission is to make solar energy ubiquitous by making it more efficient, less expensive and more attractive. The impact of SDTC\u2019s investment is not only financial; it also provides validation of our progress toward these goals. We are pleased with the support of these made-in-Canada solutions because we believe that true sustainable growth is both low-carbon and job creating.\u201d<\/p>\n

\u2013 Mike Andrade, CEO, Morgan Solar<\/p>\n

\u201cThis project highlights Canadian leadership and innovation in the energy sector as we drive toward a low-carbon economy. We are excited to be working with Hydrostor, an industry-leading Canadian company, to pursue a massive energy storage market opportunity. Energy storage projects like this can promote a healthier environment and a stronger economy for Canada.\u201d<\/p>\n

\u2013 Annette Verschuren, O.C., Chair & CEO, NRStor Inc.<\/p><\/blockquote>\n

Quick Facts<\/h4>\n