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GREENCENTRE CANADA SECURES OVER $2.5 MILLION FROM FEDDEV ONTARIO TO LAUNCH CLEANTECH ACCELERATOR PROGRAM

Greencentre has secured an over $2.5 million investment from the federal government through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to launch a new accelerator program for businesses in the cleantech sector.

With the government’s contribution, which was made through its $224 million Jobs and Growth Fund, GreenCentre will be delivering the Advance-ON program to provide early cleantech companies with a combination of access to specialized laboratory equipment and technical experts.

Founded in 2009, GreenCentre is a not-for-profit organization with facilities in Kingston and Mississauga. It aims to support the growth of sustainable chemical and advanced materials companies by helping to bring their products to market. The agency’s team comprises chemists, commercial experts, and business professionals that work with entrepreneurs, industry leaders, investors, and researchers.

Through the Advance-ON program, GreenCentre is expected to support 30 small- and medium-sized businesses, as well as support 650 jobs — 350 during the project period and an additional 300 within two years of the project completion. According to the centre, it plans to leverage almost $400,000 in private sector investments for the accelerator.

GreenCentre will support entrepreneurs developing technologies in areas including energy and fuels, resource recovery, water treatment, anc consumer products from renewable resources.

According to GreenCentre, this program aims to drive cleantech innovations to market faster, unlocking private sector investment, creating high-quality jobs, and helping meet the federal government’s climate targets.

Some of the selected companies for the Advance-ON program include Waterloo sustainable textile company ALT TEX, Toronto-based electrochemical tech CERT Systems, Kingston-headquartered rare elements recycling firm Cyclic Materials, Waterloo biotech design firm Material Futures, and Grimsby-based hemp sugar manufacturer Province Brands.

Greencentre aims to support sustainable growth of chemical based startups and SMEs which makes it an interesting project. I wish them nothing but great success in the future.

Shishir Gupta CEO & Founder Startuplanes

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