Ahmed Hussen, Minister of Immigration, Refugees and Citizenship announced the federal government’s commitment on Nov. 24 on behalf of Navdeep Bains, Minister of Innovation, Science and Economic Development.
Funding will be provided by Sustainable Development Technology Canada, an initiative that works with Canadian companies to introduce their early-stage clean technologies to the market.
“Investments like those we are celebrating today are key to Canada’s transition to a low-carbon economy. Cleantech innovation in solar power and energy storage is especially important as it helps us create more energy-efficient and environmentally friendly solutions,” Hussen said.
The investment in Morgan Solar supports products featuring proprietary planar optical technology, which reduces the amount of expensive material used in constructing solar panels. One version is currently the world’s only translucent high-efficiency panel designed for buildings, while the other has the potential to be the world’s cheapest panel for utility applications.
Meanwhile, theNRStor investment supports development of greater energy storage capabilities for the Ontario electricity grid. The company’s innovative system proposes to store energy as compressed air in heat, presenting potential business opportunities for Canadian energy companies, a government news release said.