Today, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced an investment of over $22 million in support of eight projects to accelerate battery innovation and production capacity across Canada.
By powering electric vehicles and making it easier to incorporate renewable energy into our grids, batteries play an important role in the ongoing transition to a prosperous, affordable, low-carbon economy. To stay on track to get to net-zero emissions by 2050, the global cumulative battery demand from 2022 to 2050 is set to increase nearly 150-fold, providing an opportunity for Canada to seize.
Today's investments support key priorities in Canadian battery innovation, including:
- Enhancing battery performance and reducing costs for more reliable, affordable energy storage across key sectors such as transportation, utilities and industry;
- Strengthening the security and increasing the competitiveness of Canada's battery supply chains while reducing environmental impacts; and,
- Supporting the development and scale-up of new technologies that grow Canada's economy and promote energy sovereignty.
This investment will shape a cleaner, more resilient future for Canadians - one where affordable and reliable clean energy powers our homes, vehicles and industries.
