Clear Blue Technologies receives Canadian investment


The Canadian government is investing nearly CAD 100,000 ($79.517) in off-grid company Clear Blue Technologies.

The investment, which totals CAD 92,000, is to be made through the National Research Council of Canada’s Industrial Research Assistant Program. The aim of the investment is to help Toronto-based Clear Blue continue to develop its Smart Off-Grid technology.

In a statement, Clear Blue co-founder and CEO Miriam Tuerk said, "The support and funding from NRC-IRAP have been crucial to the development and enhancement of our technology, which has provided the basis for a growing, thriving business."

Clear Blue currently has installations across Canada and the United States and is expanding its business to Europe, the Middle East and Asia. The investment will allow the group to create new jobs, Tuerk added.

The funding announcement follows news two weeks ago that Clear Blue had received debt financing from the Southern Ontario Fund for Investment in Innovation. That round of financing followed the raising of $500,000 in June last year through Grenville Strategic Royalty Corp and the Ontario Centres of Excellence.

Ontario has long been the mainstay of Canadian solar, with the province seeing recent heavy investment. Just under a year ago, SunEdison raised financing of CAD 115 million to build 33 MW of solar in the area. pv magazine reported that that investment was to be borne entirely in Ontario, with 100,000 modules manufactured and installed within the province. And just over two weeks ago, Guelph-based Canadian Solar reported major increases in sales and net profit for 2014, with a project pipleline of 8.5 GW.

The government support for Clear Blue was announced by Member of Parliament John Carmichael and Ed Holder, Canada’s minister for state for Science and Technology.