Business Development Bank of Canada Partners With Breakthrough Energy Solutions Canada to Accelerate Clean Energy Innovation
News release
August 8, 2019 Ottawa, Ontario Natural Resources Canada
One of the greatest opportunities for Canada is the shift toward clean growth. This is why we are investing in the development of new and innovative technologies that will help us fight climate change, boost the economy and create good jobs for Canadians.
Canada’s Minister of Natural Resources, the Honourable Amarjeet Sohi, today announced that the Business Development Bank of Canada (BDC) has committed $10 million through its Cleantech Practice to support companies under Breakthrough Energy Solutions Canada (BESC), a program that aims to bring game-changing clean energy innovations to market.
Launched in May at the Clean Energy Ministerial and Mission Innovation Ministerial meetings in Vancouver, BESC is a first-of-its-kind public–private initiative, co-developed in partnership with Breakthrough Energy, aimed at accelerating the development of clean energy technologies with the potential for substantial global pollution reduction in the electricity, transportation, buildings and manufacturing sectors.
BESC, a new stream under Natural Resources Canada (NRCan)’s Energy Innovation Program, builds on the shared objectives of advancing a sustainable and resilient clean energy future, giving cohort companies an opportunity for exposure to global and Canadian investors looking to help grow their business.
The initiative will harness the expertise of leading public and private investors in clean energy technologies, with NRCan conducting and overseeing the funding call and Breakthrough Energy providing valuable insights and exposure to global investors. As a supporting partner, BDC’s Cleantech Practice will also provide advisory services to further support the growth and ambition of BESC’s cohort of companies.
The BESC call for proposals is still open until September 11, 2019. Learn more: www.nrcan.gc.ca/breakthrough
Quotes
“I’m proud to welcome the Business Development Bank of Canada as our newest partner in this exciting initiative that will position Canada as a leader in clean energy innovation. With this additional investment, we’re one step closer to a prosperous clean energy future that will have benefits for generations to come.”- The Honourable Amarjeet Sohi
Canada’s Minister of Natural Resources
“Canada’s cleantech companies are best-in-class, but scaling up to global markets remains their biggest challenge. BESC opens the door to companies that have a huge transformational potential; supporting them is fundamental to our economy and our future as a country.”
- Susan Rohac
Vice-President, Cleantech Practice, BDC
Quick facts
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BDC is the only bank devoted exclusively to entrepreneurs. It provides access to financing, both online and in-person, as well as advisory services to help Canadian businesses grow and succeed. Its investment arm, BDC Capital, offers a wide range of risk capital solutions. For 75 years, BDC’s purpose has been to support entrepreneurs in all industries and all stages of growth. For more information and to consult more than 1,000 free tools, articles and entrepreneurs’ stories, visit bdc.ca.
Associated links
Contacts
Natural Resources Canada
Media Relations
343-292-6100
NRCan.media_relations-media_relations.RNCan@canada.ca
Vanessa Adams
Press Secretary
Office of the Minister of Natural Resources
343-543-7645
Vanessa.Adams@canada.ca
Follow us on Twitter: @NRCan (http://twitter.com/nrcan)
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