Clean Tech Corner

Canadian Federal Budget – Good For The Clean Tech Sector Says PWC

Dave Forde — Mon, 08 Mar 2010 15:36:13 +0000

We already mentioned the recent Speech From The Throne and how the technology sector is finally getting some much due attention, but PwC has dug a little deeper to highlight the Budget 2010’s impact on the clean tech sector:

Establishing the Next Generation Renewable Power Initiative, with $100 million over the next four years to support the development, commercialization and implementation of advanced clean energy technologies in the forestry sector.
Modernizing the regulatory system for project reviews, and supporting consultation with Aboriginal peoples on major resource projects.
A 50% declining balance capital cost allowance for green energy including heat recovery and distribution systems and other clean energy generation assets.

Wellington Financial Provides US$5 Million Financing To Ember Corporation

Dave Forde — Mon, 25 Jan 2010 15:40:22 +0000

Wellington Financial Provides US$5 Million Financing To Ember Corporation

Wellington Financial LP, a privately-held specialty finance firm, recently announced they have provided US$5 million in venture debt financing for Ember Corporation of Boston, Massachusetts. Ember is a provider of low-power wireless mesh networking technology.

“Ember’s smart grid solutions are on the leading edge of next generation wireless, low power mesh networking technologies,” said Craig Netterfield, Senior Vice President at Wellington Financial. “This transaction is an excellent example of how our True Growth Capital can benefit an already successful and rapidly growing company. We have a great deal of confidence in Ember’s global market potential.”

The financing will be used as additional working capital to help with further growth plans for the clean tech company.

Switch Materials Secures C$7.5 Million

Dave Forde — Mon, 18 Jan 2010 15:32:23 +0000

Vancouver-based SWITCH Materials has raised $7.5 million in Series B round of financing. The Business Development Bank of Canada (BDC Venture Capital) led the investment, with participation from existing investors GrowthWorks, Pangaea Ventures and Ventures West. Proceeds will be used for continuing R&D and to complete product commercialization.

“I am excited that an up and coming Canadian clean tech company will be added to our portfolio,” said Geoff Catherwood, Director of Venture Capital at BDC. “The technology being developed at SWITCH carries tremendous potential to address the burgeoning demand for a new generation of window technology. Producing a SMART window solution that can meet the price point required for significant market penetration will enable SWITCH to gain a leadership position in a large untapped market.” In conjunction with the financing, Mr. Catherwood will join the companyís Board of Directors.

Switch develops a product offering dynamic light-control films for architectural and automotive use.

Event: Toronto Green House – January 26

Dave Forde — Mon, 18 Jan 2010 15:04:34 +0000

Toronto Greenhouse is a business forum for the “Green” sector. Environmentally focused companies and investors gather to mingle, make new connections and do deals. Our mission is to foster growth in the environmentally friendly business community. Who should attend? “Green” Entrepreneurs, business owners, sr. managment, “angel” investors, venture capitalists, private investors, investment funds representatives,lenders, business/intellectual property lawyers, consultants, industry association reps, other “green” business people and friends of the environment. Web, print and televised media are also expected to be in attendance.
The First Toronto Greenhouse event for 2010! Our Green Building, Design & Real Estate edition will feature panel discussions about the latest issues in these fields.

Speakers:
Lisa Bate, Chair – Canada Green Building Council/ Partner – B+H Architects
John Sloan, Partner MCW Consultants Ltd
Jim Lord, Partner – Ecovert Consulting/Lead Organizer- Green Drinks Toronto Chapter

Location:The National Club 303 Bay St. Toronto, Ontario M5H 2R1
Click here to register.

Morgan Solar Secures $4.7M In Funding For Solar Energy Start-Up

Dave Forde — Wed, 14 Oct 2009 14:07:22 +0000

Toronto-based Morgan Solar Inc. secured a Round A investment from Iberdrola Group SA, Nypro Inc, and Turnstone Capital Management LLC. Of $4.7 million US. Morgan Solar manufactures a Concentrated Solar Photovoltaic (CPV) panel called the Sun Simba HCPV, which is a high efficiency, low cost solar technology designed for utility scale and large distributed generation applications.

Who Are The Top 10 Cleantech Companies In 2009?

Dave Forde — Wed, 14 Oct 2009 13:45:14 +0000

Over at www.cleantech.com, Shawn Lesser has an interesting article that looks at the Top 10 countries around the world for Cleantech and we’re happy to say that Canada has made the list.

Who Are The Top 10 Cleantech Companies In 2009?

Denmark
Germany
Sweden
United Kingdom
Israel
Switzerlan
The United States
United Arab Emirates
Chin
Canada

What makes Canada special for Cleantech? According to Lesser, “Canada runs on hydropower. Canada is the world’s second largest producer of hydroelectricity in the world. Some provinces such as Quebec, Manitoba, Newfoundland & Labrador, and the Yukon produce more than 90 percent of their electricity from hydro. The Canada government has put a unique program into place, the $1 billion Sustainable Development Technology Canada fund. SDTC is a not-for-profit foundation that finances and supports the development and demonstration of clean technologies.”

Province Of Ontario New Green Energy Act Said To Create Thousands Of New Jobs

Dave Forde — Tue, 13 Oct 2009 21:26:19 +0000

The Province of Ontario is stepping up their game and preparing to deliver thousands of new jobs as part of the new green economy under Ontario’s Green Energy Act.

Ontario’s new regulations provide a stable investment environment where companies know what the rules are — giving them the confidence to invest in Ontario, hire workers, and produce and sell renewable energy.

What The Ontario Green Energy Act Will Deliver

A Feed-In-Tariff program, which allows individuals and companies to sell renewable energy — like solar, wind, water, biomass, biogas and landfill gas — into the grid at set rates.
Domestic content requirements, which would ensure at least 25 per cent of wind projects and 50 per cent of solar projects be produced in Ontario — requirements for solar will increase by January 1, 2011 and wind will increase by January 1, 2012.
A streamlined approvals process and a service guarantee to bring developers greater certainty.
Regulations for setting wind turbines certain distances from houses, roadways and property lines.
A new Ontario Renewable Energy Facilitation Office — a one-stop shop to help renewable energy projects get off the ground faster.

“Ontario has taken the lead in Canada and set the ground rules for doing green business. Now investors, renewable energy companies and skilled workers can really move our green economy forward,” said Dalton McGuinty, Premier of Ontario.