Minister Bains announces $39 million investment in jobs of the future
Support will help British Columbian firms, innovate, scale-up and expand in Canada and around the world
August 9, 2019 – North Vancouver, British Columbia – Western Economic Diversification Canada
Innovative small-and medium-sized enterprises (SMEs) across Western Canada are creating jobs of the future. By supporting their success, the Government of Canada is investing in the future of middle-class Canadians and all those working hard to join them.
Today, during a visit to the Hydrogen Technology & Energy Corporation (HTEC), the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for Western Economic Diversification Canada (WD), announced investments through the Business Scale Up and Productivity (BSP) for 17 companies. Together, these companies will receive up to $39 million, including $875,000 to HTEC to develop and commercialize a next generation hydrogen fuel delivery system.
With the support of the WD funding, HTEC will develop and commercialize its next-generation PowerCube hydrogen distribution module. The PC65 is a flexible fuel-supply solution that can deliver high-pressure hydrogen to retail hydrogen fueling stations or act as a stand-alone fueling solution in heavy-duty transportation applications. This investment will allow the company to refine its existing PowerCube technology to support recently announced projects in Edmonton and the Port of Los Angeles; maintain a competitive advantage as the hydrogen fuel cell electric vehicle (FCEV) market develops; and generate increased employment opportunities, revenue growth, and export sales.
In the coming years, hydrogen-powered cars, trucks, and buses will grow in popularity to meet zero-emission vehicle and climate change goals. HTEC’s mission is to harness hydrogen’s potential to reduce pollution and climate change by building hydrogen supply stations to support this developing industry.
Supporting innovative, clean technology firms in Western Canada is a priority for WD. By providing interest free, repayable funding to help qualified companies grow and expand, WD is delivering on the Budget 2018 commitment to grow the western Canadian economy through regional innovation. In British Columbia, this investment will help create almost 800 new jobs for middle-class Canadians and will ensure Canada's prosperity for decades to come.
More information on the other BSP recipients can be found here https://canada.ca/en/western-economic-diversification/news/2019/08/seventeen-bc-companies-to-benefit-from-government-of-canada-funding.html
“Across Canada, innovative companies are developing solutions to today’s biggest challenges, like climate change, and creating the jobs of the future. By supporting dynamic companies in promising sectors across British Columbia, our government is helping turn today’s challenges into opportunities, and create the kinds of jobs that will secure a bright future for our children.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
“Like many communities across British Columbia, North Vancouver is home to a number of creative, forward-thinking companies that provide jobs and prosperity for Canadians. HTEC is just one example of ambitious companies that are focused on jobs, growth, and innovation.”
- Terry Beech, Member of Parliament for Burnaby North—Seymour and Parliamentary Secretary to the Minister of Transport
“HTEC is grateful for WD’s investment in support of our ongoing efforts to reduce the cost and complexity of distributing hydrogen. With the PC65 system, we can deliver high-pressure hydrogen where and how it’s needed, in larger volumes than more conventional distribution systems like tube trailers. Fewer deliveries mean reduced fuel costs for our customers, and reduced greenhouse gas and particulate emissions associated with transportation of the hydrogen itself.”
- Colin Armstrong, President & CEO, HTEC
Hydrogen has many benefits as a fuel source, including silent operation and creating water as the only by-product at point of use.
The BC government recently announced that it would require all new light-duty cars and trucks sold in the province to be zero-emission by the year 2040.
Regional Development Agencies like WD are one of Canada’s four flagship platforms supporting innovation, along with the Industrial Research Assistance Program, the Strategic Innovation Fund and the Canadian Trade Commissioner Service.
Regional Communications Manager
Western Economic Diversification Canada
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