Seven local businesses in zero waste and clean tech industries will receive funding to commercialize new technology, expand their operations and reach new markets
British Columbia has the people, ideas and resources to address global challenges, while building the local economy. To support B.C.'s boldest and brightest changemakers, the Government of Canada is making strategic investments in businesses that are catalysts for Canadian-made innovation with growth potential beyond our borders.
Today, the Honourable Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced an investment of almost $13 million in PacifiCan funding to help seven Lower Mainland businesses propel the B.C. economy forward. This includes over $5.8 million for four businesses through PacifiCan's Jobs and Growth Fund and over $7.1 million for three businesses through its Business Scale-Up and Productivity program.
Many of the funding recipients are in zero waste and clean tech industries that are expanding electric vehicle (EV) charging stations, enhancing online sales technology for used EVs, treating wastewater, and repurposing organic waste into commercial products like cat litter and organic fertilizer. More details about the businesses receiving funding today can be found in the backgrounder here.
Minister Sajjan made the announcement while visiting one of the funding recipients, Anaconda Systems Limited in Vancouver, B.C. Established in 2015, Anaconda Systems Limited designs, engineers and operates waste management systems for commercial and municipal use.
Anaconda Systems Limited has created an innovative aerobic composting system that can turn waste into organic fertilizer in 10 days - a process that typically takes 90 to 180 days. This process results in less waste to landfills, reducing methane gas in our atmosphere and helping create a net zero future. The company is receiving $2.5 million through the Jobs and Growth Fund to scale up its operations and market this solution across North America.
In all, today's investments are expected to create over 300 jobs and almost $350 million in expected revenue growth for B.C. businesses.
The Government of Canada, through PacifiCan, supports innovation, business growth and community economic development in British Columbia. Through targeted funding programs, PacifiCan makes strategic investments in growing companies poised to strengthen B.C.'s position as a domestic and international leader in growing sectors, such as clean technology, life sciences and digital industries.
