Canada News Wire
News release
The Government of Canada continues to strive to be a global leader in clean technology by positioning Canada at the leading edge of a changing economy and ensuring that Canadians are able to access the jobs of the future.
The Honourable Navdeep Singh Bains, Minister of Innovation, Science and Economic Development, highlighted commitments from Budget 2017 that will boost the growth of Canada’s clean technology sector by making available more equity finance, working capital and project financing to promising clean technology firms. Nearly $1.4 billion in new financing, on a cash basis, will be made available to help Canada’s clean technology firms grow and expand.
Budget 2017 also takes important steps to support the Pan-Canadian Framework on Clean Growth and Climate Change.
Addressing climate change and protecting our environment represent an opportunity to support inclusive and sustainable economic growth.
Minister Bains also announced $1,625,000 in funding for the construction of two public hydrogen stations in the Greater Toronto Area to support a new Canadian market for fuel-cell vehicles.
The project proponent, Hydrogenics Corporation, is a Canadian company that has been involved since 2000 in over 50 hydrogen refuelling station projects around the world.
Budget 2016 allocated $16.4 million for the deployment of electric vehicle recharging and alternative fuel refuelling infrastructure.
Once successfully completed, the projects under this funding will establish more than 80 new charging units for electric vehicles, as well as nine natural gas and three hydrogen refuelling stations along key transportation corridors.