The Canadian government is focused on developing a greener economy by investing in cleantech businesses that are making a real difference. A recent investment in a cleantech company came through Sustainable Development Technology Canada (SDTC). The investment was awarded to Cobric Chemicals, a company based out of Barrie, Ontario, and amounted to $3.8 million.
“Now is the time for ambitious climate action. Cleantech innovation, entrepreneurship and commercialization are key to the vital shift to a healthier environment and a net-zero carbon economy. Today’s announcement will boost our leadership in climate and waste reduction technologies and help foster a truly Canadian success story.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry
Cobric Chemicals is a waste recycling business that develops cleantech solutions for recycling service facilities. The investment from Sustainable Development Technology Canada will be used to improve a high-temperature metal-recovery technology. This technology will be implemented for recycling electric arc furnace dust (EAFD). EAFD is typically created via companies in the steel industry as a waste product.
“This SDTC funding will assist the growth of Cobric’s recycling footprint in North America and eventually worldwide as we plan to scale our high-temperature metal-recovery technology globally to grow in lockstep with our customers and pursue new market opportunities.”
-Peter L. Weinwurm, Founder and CEO, Cobric Chemicals
Once implemented, the technology will be able to isolate zinc from EAFD and reuse the valuable material for production purposes. Therefore, this technology has the potential to reduce waste and reuse valuable materials in Canada’s steel industry.
What is Canada’s Climate Plan?
The Canadian government released their initiative to strengthen the nation’s approach to climate change in a plan called A Healthy Environment and a Healthy Economy. This plan aims to support leading Canadian companies in the cleantech sector that are determined to bring positive change through innovation.
“It is within our reach to build back from the pandemic in a way that meets the need to address climate change and to deliver a stronger economy that thrives in a low-carbon world to the benefit of all Canadians. The clean economy is an immense opportunity. Global momentum is already accelerating towards this end and Canadian workers and businesses are well-positioned to be leaders.”
– The Honourable Jonathan Wilkinson, Minister of Environment and Climate Change
How the government plans to accomplish the goals outlined in “A Healthy Environment and a Healthy Economy” is by funding promising projects through Sustainable Development Technology Canada.
What is Sustainable Development Technology Canada?
Sustainable Development Technology Canada (SDTC) is a federal foundation that independently supports Canadian companies that are making significant improvements in environmental technologies. The SDTC aims to give Canadian clean technology initiatives the means to find solutions to the world’s foremost environmental obstacles.
We support Canadian companies—clean technology trailblazers—who are leaders in their efforts to develop and demonstrate new environmental technologies that address climate change, clean air, clean water and clean soil.
– Sustainable Development Technology Canada
SDTC has supported over 450 companies since its launch in 2001 with over $1 billion in net investments through programs such as the SD Tech Fund. You can read more about the SDTC via this news page, which covers success stories such as how the SDTC awarded $44.3 million to 11 Canadian cleantech companies for environmental innovation.
Learn More About Government Funding for Canadian Cleantech Companies
Sustainable Development Technology Canada is a great supporter of the Canadian cleantech sector, though there are many more cleantech funding programs to choose from. Visit our government funding directory for a list of the top programs available throughout Canada.
New government funding programs open every week, and ongoing programs accept applications with a short intake window. Our Business Development team lets our clients know about new programs and intake periods before they’re announced on our site.