Last week during a visit to the Hydrogen Technology & Energy Corporation (HTEC), the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for Western Economic Diversification Canada (WD), announced investments in 17 companies through the Business Scale Up and Productivity (BSP) program.
Together, these small-and medium-sized enterprises will receive a total of $39 million, including $875,000 to HTEC to develop and commercialize a next generation hydrogen fuel delivery system.
With the support of the WD funding, HTEC will develop and commercialize its next-generation PowerCube hydrogen distribution module.
The investment will allow the company to refine its existing PowerCube technology to support recently announced projects in Edmonton and the Port of Los Angeles; maintain a competitive advantage as the hydrogen fuel cell electric vehicle (FCEV) market develops; and generate increased employment opportunities, revenue growth, and export sales.
Among the additional companies receiving funding are:
AbCellera – Up to $5,000,000
Appnovation – Up to $2,495,500
Binary Stream – Up to $1,143,000
DarkVision – Up to $2,991,500
Jostle – Up to $2,000,000
Pug Pharm – Up to $550,000
Saltworks – $2,500,000
Semios – $5,000,000
STEMCELL Technologies – $5,000,000
Traction Sales and Marketing & Traction Complete – Up to $300,000
Wiivv – Up to $2,300,000