FedDev Ontario Invests $4.4M in Cleantech Projects
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) recently announced an investment of $4.4 million to support two Ottawa-based technology companies, BluWave-ai and Tehama. These investments additionally leverage $12.6 million in private sector support to help meet their project goals.
“This funding announcement will help home-grown technologies, while supporting the creation of over 85 high-quality jobs across the Ottawa region.”
– Jenna Sudds, parliamentary secretary to the Minister for Women and Gender Equality and Youth, and Member of Parliament for Kanata–Carleton
Through the Government of Ontario, more than 190 projects have been awarded funding by FedDev Ontario since 2015, generating nearly 8,000 new jobs across the province. One of the fund’s main objectives is to support and invest in strong economic growth.
Two Cleantech Projects Receiving FedDev Ontario Funding
The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is providing BluWave-ai with $1.7 million and Tehama with $2.7 million in repayable funding contributions, often referred to as loans. The government funding allocated towards these projects is expected to add 85 jobs between the two companies.
“Helping companies innovate so that they can increase their competitiveness and create high-quality jobs will continue to be a priority for our government. Investments like these ensure that tech hubs like Ottawa continue to attract new investments and contribute to a growing economy.”
– Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
Founded in 2017, BluWave-ai Inc. uses artificial intelligence (AI) to help utility companies integrate renewable energy sources into their electricity grids. The $1.7 million repayable contribution will enable BluWave-ai to develop and commercialize software products for managing Electric Vehicle (EV) fleet operations while reducing energy consumption and carbon emissions. A project well tailored to help the government meet net-zero emissions goals by 2050.
Tehama Inc., founded in 2019, offers businesses of all sizes access to diverse and easy cloud-based remote workplace Desktop-as-a-Service (DaaS) solutions to improve cybersecurity in a new era of work-from-home culture. This $2.7-million funding via FedDev Ontario will help the company integrate new technologies into its platform to support global expansion efforts of its Carrier for Work™ solution.
Canadian Government Funding for Cleantech Projects
Often pushing goals of innovation and economic growth, the Canadian government has increased its support of clean technology in the past few years with the announcement of its goal to meet net-zero emissions by 2050. Like the projects described in this blog, there are many types of funding programs available to support a variety of projects classified as cleantech.
Eligible businesses can access government grants and loans through Cleantech Funding Programs which assist projects working towards lowering emissions by improving products, processes, and/or systems to be more environmentally efficient.
Your business may be eligible to receive government funding support for projects working to create clean energy technology, moving the country forward in net-zero emission innovation. Find out which grants and loans you may be able to access with our free Funding Calculator.