Investments support a growing Canadian cleantech company and will help Canada meet its climate objectives
Canadian cleantech entrepreneurs are making huge strides in creating and commercializing novel solutions to the world's most pressing environmental challenges, such as climate change, pollution prevention, water security and waste management. The Government of Canada is committed to building support and partnerships to strengthen innovation, positioning Canada as a leader in the growing sectors of clean technology and the low-carbon, sustainable economy.
Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced $8.5 million in support for VueReal through Sustainable Development Technology Canada (SDTC). In addition, the Government of Ontario is supporting VueReal with $2 million in funding provided through Invest Ontario. This joint investment will support a $40 million investment VueReal is making to expand the company's operations by boosting manufacturing capacity and fabrication processes.
This is the second SDTC investment in VueReal and part of a continuing collaboration that is enabling the company to create high-brightness microLED displays. These displays are 3.5 times more energy-efficient and produce five times more light than same-sized liquid crystal displays and organic light-emitting diode displays. The SDTC-funded project will boost the company's ability to develop prototypes for various automotive, aerospace and smart glass applications.
There will never be a better time to support clean technology and to help lay the groundwork for a stronger, greener, more sustainable Canada. Through investments like this, the Government of Canada and SDTC are committed not only to protecting our environment and supporting our ambitious climate objectives but also to growing our economy and creating opportunities for all Canadians.
