SDTC Announces Its Largest Funding Round To Date, Assisting 15 Projects Across Canada

OTTAWA, July 5 /CNW/ - Sustainable Development Technology Canada (SDTC) will invest $43.4 million in 15 new clean technology projects. Funding for the projects, which demonstrate strong potential for environmental, social and economic benefits, has been approved in principle by SDTC's Board of Directors.

Projects earmarked for support in SDTC's sixth funding round - its largest to date - include the development and demonstration of energy-efficient, low-cost solid-state lighting, led by Group IV Semiconductor Inc. of Ottawa; on-demand insulation to reduce energy use in transparent structures such as greenhouses, led by Montreal- based Sunarc of Canada Inc.; and small-scale electricity generation from tidal power, led by Clean Current Power Systems Inc. of Vancouver.

"The projects chosen for SDTC funding are win-win for both Canada's economy and the environment," said SDTC Chairman James M. Stanford. "Each of the projects is subjected to an exhaustive review process and must be represented by a consortium of organizations rather than a single company. These requirements improve the opportunities for successful technology demonstration and strengthen their market readiness."

Reflecting their solid prospects to deliver both commercial and environmental benefits, other private and public sector consortia partners are investing an additional $116 million in the 15 projects. This represents almost a 3:1 ratio of industry-partner contribution to SDTC investment.

The technologies are targeted to the power generation, energy utilization, transportation, agriculture and forestry, and waste management economic sectors. Demonstration of the technologies will be carried out in five provinces.

With this new investment, SDTC is on track to allocate all of its funds equitably up to December 2010.

"We need a framework for new technologies for Canada to lead the world in developing clean energy solutions," said the Honourable R. John Efford, Minister of Natural Resources Canada. "Funding these projects will help technological potential become reality, help us address climate change and create new economic opportunities in the years to come."

"Green products and technologies are a growing market and that's why they are a cornerstone of our most recent climate change plan," said the Honourable StDephane Dion, Minister of the Environment. "Through SDTC, the Government of Canada supports innovative solutions which will not only allow us to meet our Kyoto target, but also provide for cleaner cities, cleaner air and high value jobs for Canadians."

Since April 2002, SDTC has completed six funding rounds, committed $132 million to 61 clean technology projects, and leveraged $347 million from project consortia members. SDTC currently manages $479 million in projects.

SDTC will launch its next call for Statements of Interest (SOIs) on August 24, 2005. The upcoming call for SOIs will include, for the first time, a request for projects with technologies that address water and soil quality issues as well as climate change and clean air, reflecting the expanded mandate given to SDTC in the 2004 federal budget.

"This larger role endorses sustainable development as a comprehensive goal focusing on the protection and efficient use of the world's natural capital - air, land and water - each of which is linked to the other," said Vicky J. Sharpe, President and CEO of SDTC. "This approach will help us make more holistic decisions that support the competitiveness of Canadian industry and the Government of Canada's green technology initiatives."

About SDTC

Sustainable Development Technology Canada is a foundation created by the Government of Canada that operates a $550 million fund to support the development and demonstration of clean technologies - solutions that address issues of climate change, clean air, and water and soil quality to deliver environmental, economic and health benefits to Canadians.

An arm's length, not-for-profit corporation, SDTC fills the void in the innovation chain between research and commercialization - helping clean technology developers move through the development and demonstration phases, in preparation for commercialization. SDTC applies a stringent due diligence process when selecting technologies to support and requires every applicant to involve a consortia of partners in their project.

SDTC encourages collaboration among private, financial, academic, public sector partners and with the Government of Canada and all levels of government to build a sustainable development infrastructure in Canada.

Visit http://www.powermarketers.com/index.shtml for excellent coverage on your energy news front.