Minister Bains announces $39 million investment in jobs of future

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From: Western Economic Diversification Canada

August 9, 2019 – North Vancouver, British Columbia – Western Economic Diversification Canada

Innovative small-and medium-sized enterprises (SMEs) across Western Canada are creating jobs of the future. By supporting their success, the Government of Canada is investing in the future of middle-class Canadians and all those working hard to join them.

Today, 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 through the Business Scale Up and Productivity (BSP) for 17 companies. Together, these companies will receive up to $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 PC65 is a flexible fuel-supply solution that can deliver high-pressure hydrogen to retail hydrogen fueling stations or act as a stand-alone fueling solution in heavy-duty transportation applications. This 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.

In the coming years, hydrogen-powered cars, trucks, and buses will grow in popularity to meet zero-emission vehicle and climate change goals. HTEC’s mission is to harness hydrogen’s potential to reduce pollution and climate change by building hydrogen supply stations to support this developing industry.

Supporting innovative, clean technology firms in Western Canada is a priority for WD. By providing interest free, repayable funding to help qualified companies grow and expand, WD is delivering on the Budget 2018 commitment to grow the western Canadian economy through regional innovation. In British Columbia, this investment will help create almost 800 new jobs for middle-class Canadians and will ensure Canada’s prosperity for decades to come.

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