11/16/2017 | Press release | Distributed by Public on 11/16/2017 12:56
$400,000 contribution to help Toronto-based company develop innovative, alternative energy solutions, create 33 jobs and expand to new markets
November 16, 2017, Toronto, Ontario
A clean environment and a healthy economy are tied together. Canadians understand that as a nation, we need to do our part to protect our environment while embracing new opportunities for growth. Companies such as Clear Blue Technologies Inc. are leading the way by effectively making use of sustainable and renewable sources of energy, which will play an important role in shaping Canada's future economy.
Today, Yasmin Ratansi, Member of Parliament for Don Valley East, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, announced an investment of up to $400,000 in Clear Blue Technologies Inc. to scale up activities for its solar and wind powered control system.
Clear Blue Technologies Inc. has developed an environmentally-friendly Smart Off-Grid management and control system. This unique technology enables devices such as outdoor lighting, telecom systems, Internet of Things devices and security cameras to be powered by solar and wind energy and remotely managed, controlled and monitored in real-time, through its cloud software platform. Use of Smart Off-Grid ensures high reliability, lower ongoing maintenance costs and longer life for these important off-grid systems.
FedDev Ontario's contribution, through the Investing in Business Innovation initiative, will help the company expand its marketing activities and sell its technology to a broader range of international clients, in sectors such as telecom, rail, oil and gas, and traffic management. The company will also focus on increasing its production capacity in order to market its technology at a quicker rate and on a broader scale. This project is expected to create up to 33 full-time jobs and reinforces the Government of Canada's commitment to supporting technologies that will advance our environmental objectives and support growth in the clean tech sector.
'The Government of Canada is proud to support Clear Blue Technologies Inc., and their commitment to developing alternative solutions to help reduce energy consumption. This funding is helping to create jobs for the region while supporting growth for the clean technology sector.'
- Yasmin Ratansi, Member of Parliament for Don Valley East
'The demand for more sustainable and renewable sources of energy, and new technologies, is increasing, and Canadian companies are ready to rise to the challenge and lead the way to change. Today's investment in Clear Blue Technologies Inc. will support scale-up activities for the company, while reinforcing our shared commitment to innovative, sustainable practices that promote a globally-competitive economy in the long term.'
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
'FedDev Ontario's investment and support of Clear Blue is vital for our ability to expand and grow, and to deliver our advanced technology around the world. With as much as one quarter of the world without reliable sources of power, solar and wind energy are the basis for delivering critical services such as lighting and telecom voice and data. FedDev Ontario is helping us address these needs and take advantage of this huge market opportunity for our products.'
- Miriam Tuerk, CEO and Co-Founder, Clear Blue Technologies Inc.
Clear Blue Technologies Inc., established in 2011, has developed energy-efficient Smart Off-Grid solutions that can be accessed globally. The company now has clients in 30 countries.
FedDev Ontario's repayable contribution of up to $400,000 will leverage an additional $800,000 from various accredited angel investors.
The company's technology was developed in collaboration with Centennial College and George Brown College, through grants provided by the Colleges Ontario Network for Industry Innovation (CONII) and the Ontario Centres of Excellence (OCE).