More than half are Export Development Canada Customers
Canadian cleantech companies are making their mark on the world stage, with a record-breaking 13 businesses being named to the prestigious Global Cleantech 100 list at the Cleantech Forum in San Francisco today. The list represents the most innovative and promising clean technologies from around the world.
Seven of the 13 companies being recognized are Export Development Canada (EDC) customers. EDC is the largest provider of financial solutions for cleantech companies looking to export, providing nearly $1.5 billion in support to the sector in 2017. EDC expects to support more than $6 billion in cleantech business between now and 2020.
“The demand for solutions to tackle climate change for the future of clean economies is massive. Companies just need support to take full advantage of it,” said Mischa Steiner, CEO of Awesense. “We have a great product and customer demand, but had trouble securing financing to get ahead of demand to be able to deliver. EDC guaranteed our loan, allowing us to finance projects for international customers, and expand outside the country.”
EDC wants to congratulate all companies who made the list. Cleantech Group’s expert panel has determined these 100 businesses are best positioned to solve tomorrow’s clean technology challenges, and have the potential to make the most significant market impact within a five- to 10-year timeframe.
“Canadian cleantech companies are punching above their weight and creating innovative solutions to meet a massive global demand that continues to grow,” said Carl Burlock, Senior Vice President, Financing, Export Development Canada. “EDC’s financial solutions, knowledge of the industry, and global network make us a valuable partner in helping cleantech businesses succeed internationally.”
Since 2012, EDC has tripled its cleantech customers, facilitating more than $3.4 billion in business in 114 countries. The global market is estimated to be worth US$1 trillion, and expected to surpass US $2.5 trillion by 2020.
The latest Global Cleantech Innovation Index, which looks at the countries where cleantech companies are most likely to emerge in the next 10 years, ranked Canada number one for innovation in the G20.
The federal government sees the challenge posed by climate change as an opportunity to make the transition to a clean-growth economy and has pledged to double its investments in clean energy innovation by 2020.
Congratulations to our clients:
EDC is the largest provider of financial solutions for cleantech companies looking to export internationally. EDC provided more than $1 billion in the sector in 2016 and expects business volumes to exceed $6 billion between now and 2020.
EDC helps these companies by providing financial solutions, market knowledge and the benefit of matchmaking introductions to some of the biggest projects and companies in the world.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.