Ontario Launches Program to Expand Clean Energy Technology Across the Globe
New Fund Will Invest in Clean Energy Technology Innovators
Ontario has launched a pilot program to support local innovators that are ready to meet the demand for clean energy technologies in new international markets.
The International Energy Demonstration Fund will provide financial support to Ontario companies that have developed innovative clean energy technologies for new markets. Developed in collaboration with industry partners and the federal government, the fund will give clean technology innovators the opportunity to increase their capacity to bring their advanced energy solutions to new markets, while helping solve global energy challenges, such as emissions from energy generation and access to clean, reliable energy.
Applications are now open online, and will close on July 19, 2018. Eligible clean energy technology projects could include microgrid, solar, storage, smart meter data and nuclear projects.
Supporting local clean energy innovators is part of the government's plan to support care, create opportunity and make life more affordable during this period of rapid economic change. The plan includes free prescription drugs for everyone under 25, and 65 or over, through the biggest expansion of medicare in a generation, free tuition for hundreds of thousands of students, a higher minimum wage and better working conditions, and free preschool child care from 2 ½ to kindergarten.
- Ontario is investing over $2 million to the International Energy Demonstration Fund for 2018-19.
- The International Energy Demonstration Fund (IEDF) is part of Delivering Fairness and Choice, Ontario’s 2017 Long-Term Energy Plan.
- Ontario is recognized internationally for its energy sector expertise, with proven success in innovative energy technologies, such as smart grid and energy efficiency technologies.
- The global market for clean technology has surpassed $1 trillion per year and is expected to exceed $2.5 trillion by 2020, according to Analytica Advisors.
- Ontario has the fastest-growing cleantech sector in Canada, with $19.8 billion in revenue. It is currently home to 5,000 Canadian cleantech and environmental technology companies employing 130,000 people.
- The growth of Ontario’s cleantech and renewable energy sectors could contribute as much as $1 billion to Ontario’s GDP and 10,700 jobs between 2017 and 2021.
“With the launch of this fund, our government is continuing to champion clean energy technologies around the globe. This pilot program is an important investment in the future of locally developed clean technology, to help ensure Ontario companies are well positioned to solve energy challenges abroad and support a reliable and clean supply of energy.”
“Ontario is a global leader in shaping the future of cleantech. Through programs like the International Energy Demonstration Fund, our government is helping businesses meet the growing international market demand for cleantech, renewable energy and environmental technology solutions, while helping our province to diversify our export potential and drive meaningful growth through globalization.”
“Ontario has the fastest growing cleantech sector in Canada. Our government is committed to initiatives like the International Energy Demonstration Fund that will help this key sector continue to expand at home and in international markets while providing a cleaner and more sustainable environment for future generations.”
Steven Del Duca