SDTC and Nova Scotia Organizations Announce Collaboration to Support Smart Grid Technologies

OTTAWA, ON--(Marketwired - February 22, 2017) - Today, Sustainable Development Technology Canada (SDTC), announced a collaboration with the Nova Scotia Department of Energy and Innovacorp, a Nova Scotia crown corporation, on a pilot program to support the development and demonstration of smart grid technologies in Nova Scotia.

Innovacorp has teamed up with the Nova Scotia Department of Energy to help Nova Scotia researchers and early stage companies move their smart energy innovations closer to commercialization.

SDTC is joining these two organizations in their efforts and will provide project evaluation support and will consider applicants who apply through the Smart Energy Innovation Program, for the SD Tech process.

Projects considered for this program can address any aspect of smart energy, including low carbon power generation, smart grids, energy storage, and ways to make better use of our existing renewable energy resources.

Quotes

"SDTC is excited to partner with these like-minded organizations in Nova Scotia to help entrepreneurs move their innovations closer to commercialization. This partnership allows entrepreneurs to potentially access funding from both provincial and federal funding bodies through a streamlined application process. These technologies will provide economic and environmental benefits to Nova Scotians and all Canadians," said Leah Lawrence, SDTC president and CEO.

"Our Government is proud to support Canadian companies that are focused on developing clean technologies," said Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. "These companies will create new products and services that are more energy efficient, emit lower carbon emissions and promote healthier communities. Companies developing clean technologies will also create entirely new jobs and business opportunities for Canadians. That's how innovation makes a better Canada."

"Innovation is essential to energy sustainability and economic success," said Energy Minister Michel Samson. "By supporting local innovators, we can help Nova Scotians build on their tremendous achievements in renewables and energy efficiency, make energy more affordable, and ensure Nova Scotia businesses get a bigger piece of this multi-billion dollar global market."

"This partnership lets Innovacorp leverage external expertise and funding to help early stage Nova Scotia companies demonstrate smart grid technologies that can improve the electricity system in the province and beyond," said Stephen Duff, Innovacorp president and CEO. "Collaborations like this between federal and provincial agencies will accelerate the progress of high potential innovative companies in Canada."

About SDTC

SDTC is an arm's-length foundation created by the Government of Canada to promote sustainable development and support projects that develop and demonstrate new technologies to address issues related to climate change, air quality, and clean water and soil. SDTC invests in Canadian companies that, through their innovative technologies, contribute positively to Canada by creating quality jobs, driving economic growth and protecting the environment.

About the Nova Scotia Department of Energy

As the energy industry evolves around the globe, Nova Scotia's Department of Energy works with other government departments, research teams, investors, industries and members of the public to transform Nova Scotia's energy future. With a focus on how energy is bought, developed and used in Nova Scotia, the Department of Energy seeks to grow the province's energy economy and create a vibrant, diverse and sustainable energy future that is affordable and makes sense for our province.

About Innovacorp

Innovacorp is Nova Scotia's early stage venture capital organization. It finds, funds and fosters innovative Nova Scotia start-ups that strive to change the world. The goal is to help those start-ups commercialize their technologies and succeed in the global marketplace. In addition to risk capital, Innovacorp gives entrepreneurs access to world-class incubation facilities, expert advice and other support to help accelerate their companies. Target industries include information technology, life sciences, clean technology and ocean technology.