SDTC calls for clean technology funding applications
OTTAWA, ONTARIO - Sustainable Development Technology Canada (SDTC), the largest single supporter of clean technology in Canada, announced that the $550 million SD Tech Fund is open for Statements of Interest (SOI) for its fourteenth round of funding until October 22.
“We want to hear from clean technology developers across Canada about the technology solutions they bring to environmental issues,” said Vicky J. Sharpe, President and CEO of SDTC. “By providing entrepreneurs with early-stage funding when it is most needed SDTC helps propel innovative clean technologies to commercialization thereby building tomorrow’s industry leaders while tackling our environmental challenges.”
SDTC is a not-for-profit corporation created by the Government of Canada to finance and support the late-stage development and pre-commercial demonstration of clean technologies. SDTC provides seed-stage funding to clean technology projects at this critical juncture when capital and scaling costs become formidable challenges and the risk profile deters most other investors.
To date, SDTC has allocated $342 million to 144 clean technology projects. An additional $800 million has been leveraged from project consortia members, for a total portfolio value of $1.14 billion. The pre-market validation that SDTC has brought to its portfolio companies has enabled significant follow-on funding from the Venture Capital community and Project Finance players.
SDTC is actively seeking applications for technology innovations in all areas of sustainable development that deliver clean water, clean soil, clean air, and a reduction in greenhouse gas emissions.
In particular, SDTC sees tremendous growth potential for technologies that address issues related to clean water and clean soil. Water purification, conservation, waste and storm water treatment, in addition to soil decontamination and soil quality improvement solutions, are areas in which SDTC is seeking to fund projects.
“Water and soil solutions are still at the nascent stage in Canada. Developing new technologies to address the growing environmental challenges facing the industrial, resource extraction and municipal sectors represents an enormous economic opportunity for innovative companies to capitalize on,” said Sharpe.
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