ACOA supports sustainable development in Eastern P.E.I.

News release

Investments will help businesses and community organizations in the green transition

March 7, 2024 · Three Rivers, Prince Edward Island · Atlantic Canada Opportunities Agency (ACOA)

Transitioning to a cleaner, prosperous economy will require a collaborative and sustained effort over the years and decades ahead. Across Atlantic Canada, forward-thinking innovators are finding sustainable solutions to today’s challenges. The Government of Canada is helping organizations and businesses in Eastern Prince Edward Island to build a greener future for all Canadians.

Today, the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-food and Member of Parliament for Cardigan, announced a total federal investment of over $1.5 million to support eight innovative projects for businesses and community organizations in Eastern P.E.I. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.

The Province of P.E.I. is also contributing over $900,000 toward five of the eight projects.

Among the recipients is AKA Energy Systems, a world-leading advanced manufacturing company based in Montague, P.E.I. AKA’s novel technology is improving fuel efficiency and reliability in the marine industry, and the projects anounced today will help the company reach a significant milestone toward the creation of new net-zero energy solutions.

Another recipient, Abegweit First Nation, will receive support to develop a five-year energy strategy. The First Nation has seen substantial growth in recent years and the community’s energy requirements are increasing as a result. The plan will identify potential partnerships and opportunities in climate technology, clean energy, renewable energy, and transitional fuels.

For the full list of projects, please see backgrounder.

Today’s announcement demonstrates the Government of Canada’s commitment to helping Atlantic Canadian businesses and communities innovate and grow sustainably. 


“Prince Edward Island is a province of thinkers and doers. Islanders continue to do their part, innovating, inventing and manufacturing products that are having a real impact on meeting Canada’s net-zero targets. Your federal government is supporting these cutting-edge advances which contribute to a better, more sustainable future for all Canadians.”

The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA

“Islanders know that embracing clean technology makes good economic sense. It diversifies our economy, opens up new markets, reduces emissions and creates good-paying jobs for folks across our province. Some of the world’s brightest minds are living and working right here in Eastern P.E.I., and we will continue to be there to support them as they make great strides toward a more economically and environmentally sustainable future.”

- The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-food and Member of Parliament for Cardigan

"These are important projects for Prince Edward Island. We have ambitious goals of reaching net zero by 2040 and many of these projects will help us in the development of PEI's Cleantech Park. The Government of Prince Edward Island is pleased to partner with industry and ACOA to continue this work to grow our industries."

- The Honourable Gilles Arsenault, Minister of Economic Development, Innovation and Trade

Quick facts

  • The Government of Canada is committed to moving to net-zero emissions by 2050.

  • The funding announced today is provided through the Atlantic Canada Opportunities Agency’s (ACOA) Regional Economic Growth through Innovation (REGI) program, which helps businesses speed up their growth so they can be more productive, compete on the world stage and reach new markets.

Related products

Associated links


Connor Burton
Press Secretary
Office of the Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency

Sharon McGuigan
Manager of Communications 
Atlantic Canada Opportunities Agency  

Vicki Tse
Bilingual Senior Communications Officer
Department of Workforce, Advance Learning and Population
Province of Prince Edward Island

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