In an effort to encourage Canadian-made environmental technologies, three leading organizations announced a partnership to fund the research and development efforts of small- and medium-sized companies (SMBs) in Ontario to the tune of $1million.
Ottawa-based Precarn Incorporated, the Ontario Centre for Environmental Technology Advancement (OCETA) and the Ontario Centres of Excellence (OCE) Inc., Tuesday joined hands to fund the research and development efforts of SMBs in Ontario aimed at providing solutions to environmental challenges.
Under the joint program – which will be administered by OCETA – Precarn will provide $300,000 over three years, which will be matched by OCETA and OCE, together.
Contributions by participating companies will augment the total investment to approximately $1 million.
The fund will support projects led by Ontario-based SMBs that deliver environmental solutions to customers in Canada and around the world.
Each project will involve collaborations between the company leading the development of the technology, an end-user, and a university or college.
To qualify for the funding, applicants must meet criteria established by the funding partners.
“From improving water quality in communities across the country, to keeping the air clean downstream of factories, to remediating contaminated soil, environmental issues are of paramount concern to Canadians and this partnership will make important contributions towards resolving environmental challenges within our country, as well as outside our borders,” said Paul Johnston, president and CEO of Precarn.
“Environmental technologies must meet exacting regulatory and other standards, so Ontario companies face the dual challenge of being on the cutting edge and ensuring their technology works as promised,” said Ed Mallett, president and CEO of OCETA.
“Collaborating with leading research centres and customers, and tapping into the expertise and project management experience available through Precarn and OCE, will help meet both challenges. The projects will also establish stronger links between the research phase and the testing phase, enabling companies to accelerate commercialization with more robust, market-leading products,” Mallett said.
Mark Romoff, president and CEO of OCE Inc., cited the rapidly growing population of young environmental companies, with whom OCE has worked for the last two decades. “Ontario’s universities and colleges have a great deal to offer Ontario companies including world class expertise and top-notch testing facilities – two resources not easily accessible to most small firms. At the same time, relationships fostered by the projects will also create opportunities for students who are the entrepreneurs of tomorrow.”
The creation of this three-way partnership between Precarn, OCETA and OCE brings together organizations with solid track records in initiating research and commercializing innovative technology. It will focus on and advance made-in-Canada solutions to environmental challenges.
