Toronto, ONTARIO - Canada’s clean tech economy reached a major milestone today with Sustainable Development Technology Canada (SDTC) announcing that its SD Tech FundTM investment portfolio has surpassed $1 billion

This milestone was reached through the approval by SDTC’s Board of Directors of $30.3 million in new funding for the development and demonstration of 14 clean technology solutions that benefit both the environment and the economy.  The total value of these projects is $93.5 million, bringing the SD Tech Fund investment portfolio to $1.03 billion.

"Our partnership with SDTC is providing Canadians with clean technology options that will improve their health now and in the future," said the Honourable Gary Lunn, Minister of Natural Resources. "Combined with our ecoACTION initiatives, this is another example of our Government's commitment to reducing greenhouse gases and air pollution while ensuring economic growth."

"By investing in green technology, our government is taking action in the fight against climate change," said John Baird, Minister of the Environment. "Today's announcement will ensure future generations of Canadians will continue to enjoy clean air, high-quality water and clean soil, while helping make this country a world leader on the environment."

“This is a great day for the cleantech economy in Canada,” said SDTC Chairman Stephen Probyn. “Since our first funding round in 2002, we have seen a twenty fold increase in financial support for clean technologies.  The public and private sectors have seen the importance of clean technologies, embraced our model and have invested their time and money into this important area.”

Some highlights of this round’s technologies include:

• A project that proposes to capture CO2 from compressor stations (and other installations in the fossil fuel, power generation sector) and sequester it using an innovative algae bio-reactor.  Algae have the ability to sequester CO2, produce oxygen and generate bio-oil.

• A project will demonstrate a versatile cogeneration system using multiple agricultural biomass feedstocks as a rural alternative to burning coal.  It will be demonstrated as part of a district heating project in the Métis community of Saint Laurent, Manitoba.

• A project aims to develop a novel manufacturing process for the fabrication of a new polymer derivative which promises to greatly reduce the cost of solar photo-voltaic (PV) cells.  This unique polymer has higher material stability and light absorption properties than its nearest competition.

Since April 2002, the SD Tech Fund has completed eleven funding rounds, committed $308 million to 137 clean technology projects, and leveraged $722 million from project consortia members.

“We are excited about this new group of companies and the promise their technology solutions hold,” said Vicky J. Sharpe, President and CEO of SDTC.  “Once again clean technologies are adding value to the Canadian economy, from increasing the efficiency of important sectors like oil and gas to empowering remote communities to operate more cost-effectively.”

SDTC will launch the next call for Statements of Interest (SOI) for the SD Tech Fund on February 27, 2008. The upcoming call for SOIs will include a request for projects with technologies that address climate change, clean air, clean water and clean soil issues. Solutions that address more than one focus area are of greatest interest.

About SDTC

SDTC is an arm’s-length foundation which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. 

SDTC operates two funds aimed at the development and demonstration of innovative technological solutions.  The $550 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 operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate. 

A list of all 14 projects can be found here.