New Capital for Clean Tech
Companies developing and implementing clean technology in Nova Scotia will have greater access to capital through a $24-million provincial fund announced recently by Premier Darrell Dexter.
The fund, an investment under the province's jobsHere strategy, will be managed by Innovacorp through its High Performance Incubation business model. The model has a proven track record of driving companies' performance by progressively funding them as they meet operational milestones.
"Knowledge-based companies like those in the clean technology sectors create good jobs, help grow the economy, and are vital to Nova Scotia's future prosperity," said Premier Dexter. "This fund will support the growth of emerging clean technology companies and move the province in a new direction forward."
Clean technology includes renewable energy, energy efficiency, air and water quality solutions, and recycling. It represents a range of products and services intended to provide superior performance at lower costs, while minimizing negative ecological impact and using natural resources responsibly.