|By Marketwire .||
|September 12, 2012 05:25 PM EDT||
OTTAWA, ONTARIO -- (Marketwire) -- 09/12/12 -- Sharing a resolve to see stronger collaboration on clean technology innovation, the United Arab Emirates' (UAE) Ministry of Economy and Sustainable Development Technology Canada (SDTC) have signed a Memorandum of Understanding (MOU).
"SDTC and the UAE have a shared goal: to see cleantech companies prosper in a global market estimated to be worth $4 trillion," said Dr. Vicky Sharpe, President and CEO of SDTC. "This MOU sets a framework that will help entrepreneurs in both Canada and the UAE to commercialize their innovations and bring them to customers around the globe."
"As the UAE is moving towards a knowledge-based economy and pursuing its policy on economic diversification with strategic emphasis on SMEs, the Ministry of Economy is proud to enter into a strategic partnership with SDTC for its globally recognized model of innovation and the environment," said His Excellency Sultan Al Mansoori, United Arab Emirates' Minister of Economy "especially as the UAE is a world leader in renewable energy and the green economy."
The MOU commits both parties to work together to enhance cleantech development and adoption through measures such as joint projects, technology transfer and the sharing of information key to further developing a robust cleantech infrastructure along with a lively community of small- and medium-sized enterprises (SMEs) in both Canada and the UAE.
The MOU encourages technological innovation in the sectors of agriculture and forestry, energy, industry and manufacturing, petrochemicals and the bio-based economy, water and the environment, transportation, and clean mining. It also aims to establish a mechanism to identify and connect relevant companies to business opportunities in both countries, including the creation of an Innovation Centre.
On behalf of the Government of Canada, Sustainable Development Technology Canada (SDTC) helps commercialize Canadian clean technologies, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is demonstrating that cleantech is a driver of jobs, productivity and economic prosperity.
SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $590 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.
SDTC works with the private sector, the financial sector and all levels of government to meet the Government of Canada's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates as a not-for-profit corporation. www.sdtc.ca
(613) 234-6313 x295