SDTC and Veolia Partner to Commercialize Cleantech Innovation
15 March 2011
Sustainable Development Technology Canada (SDTC) and Veolia Environnement Recherche et Innovation announced a formal partnership with the intention to accelerate the commercialization and market uptake of innovative Canadian clean technologies.
Through the partnership, selected entrepreneurs can benefit from the financial resources and business insights of SDTC and the technical, operational and commercial resources of Veolia Environnement (NYSE: VE), one of the world's largest providers of environmental services in water, waste, public transportation and energy management services. The partnership builds on an existing relationship, which includes Veolia's acquisition of Pathogen Detection Systems (PDS) of Kingston, Ontario. PDS received support from SDTC and is now the worldwide headquarters of Veolia's water sensor subsidiary, ENDETEC
"SDTC and Veolia share a common goal in accelerating the commercialization of promising clean technologies," stated Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "We are very pleased to deepen our relationship by making Veolia a Cleantech Commercialization Strategic Partner. Veolia has impressive breadth across industry sectors, global reach and the ability to take technologies from the lab to commercial scale."
Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada with $1.05 billion in funding. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.