The 2018 Global Cleantech 100 list by Cleantech Group features a record number of 13 Canadian ventures, breaking last year’s record of 11.
Since 2010, when only two Canadian companies were recognized, Canada has consistently improved its performance and is now punching well above its weight, according to the research group.
As of Q3 2017, a total of $132M was invested in Canadian cleantech companies across 29 deals. VC investment in Canadian cleantech has been strong over the last two years with $208M total VC funding in 2016.
Richard Youngman, CEO of Cleantech Group, said, “Canada has out-performed again this year, as a result of years of sustained efforts to nurture promising cleantech ventures. More recently, Canada has developed a strong reputation as a place to look for top private technology companies tackling global industrial challenges.”
As Canada strives to fulfil its obligations under the Paris Agreement, the 2017 federal budget outlined plans to double investments in clean energy innovation by 2020, with $2.2 billion earmarked to support cleantech R&D, commercialization and adoption.
Internationally, Canada has also pledged $2.65 billion in climate finance funds to help developing countries transition to low carbon, climate-resilient economies, including $1.8 billion to leverage private-sector investments.
Canada’s Parliamentary Secretary to the Minister of Environment and Climate Change, Jonathan Wilkinson, is leading this week’s delegation.
“Taking action on climate change and promoting clean growth is a top priority for Canada. In 2017, Canada jumped from seventh to fourth among global clean technology innovators, which speaks to the extraordinary leadership of Canadian companies in this sector,” said Wilkinson.
Canadian Cleantech 100 winners include: Awesense, Axine Water Technologies, CarbonCure Technologies, Ecobee, Enbala Power Networks, Enerkem, Farmers Edge, GaN Systems, MineSense Technologies, Opus One Solutions, Saltworks Technologies, Semios and Terramera.
Rajani Baburajan