PacifiCan funding to Foresight Canada will establish an innovation network to help B.C. cleantech companies grow and create jobs
British Columbia is home to some of the most innovative clean tech companies in the world. By linking up innovators and adopters, this sector will be well-positioned to grow while reducing greenhouse gas emissions and tackling some of the toughest climate-related challenges we face.
Today, Parm Bains, Member of Parliament for Steveston – Richmond East, on behalf of the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced $5.2 million in funding through PacifiCan, together with $2.3 million from the Province of BC, for Foresight Canada.
Foresight Canada will use this funding to establish the BC Net Zero Innovation Network (BCNZIN), bringing together innovators, businesses and stakeholders to accelerate the development of competitive cleantech solutions, and moving them to market. Foresight will initially focus on solutions for B.C.’s forestry, mining and water sectors.
Not only will this network accelerate the development and adoption of clean technologies, it will open up new markets and attract world-class talent to the province. This project is expected to spur growth in B.C.’s cleantech sector, creating 240 new jobs and attracting $280 million in investment. In addition to strong economic benefits, the project has a target of reducing greenhouse gas emissions by 125 kilotonnes.
The Government of Canada has committed to net-zero emissions nationwide by 2050. In B.C, PacifiCan is investing in the development and adoption of clean technology solutions to help meet this goal.