|By Marketwire .||
|March 11, 2013 02:15 PM EDT||
LEVIS, QUEBEC -- (Marketwire) -- 03/11/13 -- On behalf of Canada's Minister of Natural Resources, the Honourable Joe Oliver, the Honourable Steven Blaney, Member of Parliament for Levis-Bellechasse and Les Etchemins, Minister of Veterans Affairs and Minister for La Francophonie, highlighted today that the Harper Government will make an important investment in a clean technology project in Levis.
The federal government is investing over $5.9 million in the project which is one of 23 new clean technology projects being supported across Canada through a recent investment of $61.8 million from Sustainable Development Technology Canada's (SDTC) SD Tech Fund(TM). This fund is moving the commercialization of clean technology forward in many sectors of the economy including agriculture, transportation, mining and energy.
"Our Government is doing its part to encourage innovation and the next wave of clean technologies to help protect our environment and create high-quality jobs," said Minister Oliver. "Investments in projects such as this demonstrate our leadership in driving a vibrant clean technology industry in Canada."
"SDTC is proud to add this project to its portfolio, now valued at more than $2 billion. When purchased and used by Canadian industry, these technologies will enable a variety of sectors to increase their share of global markets," said Dr. Vicky Sharpe, President and CEO of SDTC. "As Canada works to diversify its export markets, working with new trading partners in emerging countries, these innovative technologies will help make Canadian natural resources and products more globally attractive and competitive."
This investment of more than $5.9 million will enable Eocycle Technologies to demonstrate the commercial and technical viability of its Transverse Flux Permanent Magnet (TFPM) generator wind turbine technology. The high-torque, low-speed generator for large wind turbines is smaller and more lightweight, resulting in a significant cost reduction of up to 35 percent compared with the closest competing technology.
"This $5.9 million investment promotes innovation and contributes to a rapid transition of Canada to a more environmentally friendly future," said Minister Blaney. "This kind of project strengthens our exclusive position of leadership in clean technology in Canada - and all Levis residents can be proud of it."
"The SDTC financial support for Eocycle Technologies' research and development activities will help to greatly expand the application limits of the technology developed by our company during the last decade," said Gerard Bozet, CEO of Eocycle Technologies Inc. "With this important support we will now be able to demonstrate to wind turbine manufacturers the competitive advantages of our state-of-the-art technology. We will be also be able to grow and evolve by fully integrating ourselves into their supply chain."
Over the past 10 years, Sustainable Development Technology Canada's SD Tech Fund(TM) has supported more than 245 projects and allocated $592 million.
NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.
Office of Canada's Minister of Natural Resources
Natural Resources Canada, Ottawa