Ontario is supporting the development of new, globally competitive low-carbon technologies that will reduce greenhouse gas pollution and fight climate change.
Reza Moridi, Minister of Research, Innovation and Science announced the new Cleantech Strategy today, which will help cleantech companies launch products and services, find new customers, and scale up in a global market that is expected to be worth $2.5 trillion by 2022.
As part of the strategy, which includes initiatives funded by proceeds from the province’s carbon market, the Minister announced renewed funding for cleantech accelerators, including WaterTAP.
The Cleantech Strategy will help cleantech companies grow and meet global demand through:
- Venture and scale readiness support, such as improving access to global market intelligence
- Access to capital, including providing guidance on available provincial and federal cleantech funding, and simplifying access
- Regulatory modernization, such as reducing barriers for cleantech market entry
- Adoption and procurement, by increasing demonstration and pilot opportunities.
“Creating the right environment for cleantech companies to flourish in Ontario is critical to our future sustainability,” said Minister Moridi. “The Global Market Acceleration Fund (GMAF), Green Focus on Innovation and Technology (GreenFIT), and renewed funding for cleantech accelerators will help our province’s cleantech companies expand production, create jobs and most significantly, provide technologies towards a safer and cleaner environment for future generations.”
“By promoting the business of one of our most precious resources, WaterTAP is helping Ontario companies find solutions to some of today’s greatest water challenges. Through renewed support for our cleantech accelerators, including WaterTAP, Ontario will continue build on a strong foundation of cleantech expertise and technologies to win in the global marketplace,” he added.
“Water technology companies have a critical role to play in meeting the challenges of a changing climate,” said Rick VanSant, Chair, WaterTAP. “We’re pleased that Ontario has continued its commitment to WaterTAP. In doing so, the province is helping these promising companies scale their business and become globally competitive.”