January Cleantech Roundup:
News and Stories from the Canadian Cleantech Ecosystem

January 5, 2024

Welcome to the Cleantech Roundup — your go-to hub for the latest news and developments from the Canadian cleantech sector. 

Cleantech is a dynamic, fast-paced industry, with new policy announcements, investor and venture capital news, and exciting industry developments being discovered daily. Check back regularly for exciting updates. We’ll update this page as the news unfolds, keeping you up to date with everything you need to know to maneuver through the cleantech market.

$36 Billion to be Spent Over 10 Years to Expand BC’s Electric System

A planned 10-year, $36-billion expansion of B.C.’s electrical system by the public energy utility, Crown-owned B.C. Hydro, will open clean energy economic opportunities and ensure there is ample power to supply the province’s growing population, Premier David Eby said Wednesday.


Ontario Delays Decision on Two Clean Energy Projects

Ontario Energy Minister Todd Smith has decided to withhold approval of two large energy storage projects being marketed as solutions to the province’s looming supply crunch. The two projects in question are what’s known as pumped storage systems, which both store and create energy by moving water up and down between two reservoirs or lakes and past turbines.


Government of Canada Contributes $13.5 Million to Advance Innovative Forest Technologies and Clean Energy Projects in BC

The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a contribution of $13.5 million to two forest industry transformation projects and six clean energy projects in British Columbia. 


New Geoscience BC Collaboration to Help Guide Carbon Storage Decisions in Central and Northern BC

A new Geoscience BC geological carbon capture and storage (CCS) project will assess potential for storing carbon emissions in parts of central and northern British Columbia. The project will provide essential public and foundational geological research needed to inform a transition to a net-zero emissions economy.


Clean Energy Hydrogen Project Announced in Prince George

A proposed hydrogen project from Chilliwack-based Teralta Hydrogen Solutions is set to create sustainable jobs while driving down emissions and helping solidify Prince George as a hub for hydrogen investment in B.C.


Using Idle Trucks to Power the Grid 

Researchers at the University of Waterloo are investigating vehicle-to-grid technology, using idled electric vehicles as mobile generators. The research proposed having drivers of fuel cell powered trucks plug into a hydrogen refueling station or pipeline during high traffic hours, and use their trucks’ idle fuel cells as generators to provide electricity to the grid.


Tax Credit Rules Leave Blue Hydrogen Issues Unanswered

The Biden administration's newly proposed hydrogen tax-credit rules will enforce strict carbon emissions limits on companies producing green hydrogen. However, its plans for enforcing emissions caps on fossil gas-based blue hydrogen aren't as clear, concerning environmental watchdogs.


Can the Dream of Fusion Power be Realized? 

A new crop of well-funded startups are experimenting with novel technologies to harness the nuclear reactions that power the sun, including Vancouver-based General Fusion, which has partnered with the U.K. Atomic Energy Authority to construct a demonstration reactor for perhaps the strangest concept of them all, a 21st-century revival of magnetized target fusion.


Export Development Canada Reaches Record $12 Billion in Support for Cleantech Businesses

In 2022, EDC set the goal of providing $10 billion in support for cleantech businesses in 2025. As of December 31, 2023, EDC had exceeded its target by providing more than $12 billion in financing and insurance solutions to more than 440 cleantech businesses—up from $8.8 billion and 392 companies in 2022. 


Radioactive Waste Site in Chalk River a Go

The Canadian Nuclear Safety Commission has authorized construction of a landfill site for nuclear waste at Chalk River Laboratories, a large research facility in Deep River, Ont. The project faced significant opposition from municipalities, First Nations, activist groups and others during the commission’s review, which began in 2016 and included public hearings.


Tyler Klinkhammer

Climate Tech Venture and Growth Investment Totaled $32bn in 2023, Down 30 Per Cent From 2022

In 2023, a challenging macro environment marked by higher interest rates and a cautious private investment market raised the hurdles for deployment. Investors and founders adopted a wait-and-see approach, anticipating a realignment of valuations with expectations and a stabilization of market uncertainty.


Alberta Cleantech Companies Ready for New Emissions Rules

New regulations unveiled by the Government of Canada at COP28 in Dubai propose a reduction of oil and gas methane emissions by 75 per cent below 2012 levels in the next six years. Although Alberta’s premier and environment minister criticized the emission reduction targets as “illegal” and “unrealistic”, Alberta’s cleantech sector responded with little surprise.


Canada’s Cleantech Revolution will be Limited Without More Clean Power: Champagne

Minister of Innovation, Science and Industry François-Philippe Champagne is ringing the alarm bells as Canada nears the limits of its renewable energy capacity, claiming that Canada needs to expand its clean energy capacity if we are to continue down the path toward a net zero future.