An open letter from 50 CEOs of BC clean-tech firms calling for billions in spending from Ottawa wasn’t enough to make the federal government blanch earlier this month.
Leading up to March’s Globe 2016 sustainability conference, business leaders implored Prime Minister Justin Trudeau to strike a working group, develop a national clean-tech strategy and increase spending on technology still under development.
Days later, five signatories creating potentially game-changing technology collected an extra $30 million in federal funding from Sustainable Development Technology Canada (SDTC).
“All of these types of programs give investors confidence because you have a number of different, very well-informed organizations digging into the technology and doing their own due diligence,” said (former) Inventys CEO André Boulet, whose Burnaby-based clean-tech firm was awarded $3.1 million.
While chemical solvents known as amines serve as the backbone for most carbon capture technology, Svante Inc. (formerly Inventys Thermal Technologies) has developed a device that uses solid material known as adsorbents to absorb and redistribute carbon.