$5M grant given to start-up hydrogen energy company in Mississauga

Two Mississauga companies are among 17 “cleantech” entrepreneurs presented with federal funds.

Today (Feb. 17) the feds announced they will provide $68.2 million to 17 Canadian cleantech companies through Sustainable Development Technology Canada.

The funding will help the companies develop clean technologies, according to a press release from  Innovation, Science and Economic Development Canada.

The 17 companies work in a wide range of cleantech sectors including agriculture, transportation, waste management and energy conservation.

“Now is the time for ambitious climate action,” said François-Philippe Champagne, Minister of Innovation, Science and Industry. “Our government is proud to stand shoulder to shoulder with these groundbreaking companies as they drive innovation and make their mark as international leaders in clean technology.”

Next Hydrogen, a green energy company, from Mississauga received a $5 million grant.

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The start-up cleantech energy company is developing an electrolysis technology to break water into hydrogen and oxygen, significantly decreasing the cost of hydrogen production while reducing greenhouse gas emissions.

“Our mission is to drive a step change reduction in clean hydrogen generation costs from renewable energy sources and enable wide-spread adoption of hydrogen solutions to decarbonize the global economy,” Next Hydrogen states on their website.

Another Mississauga company, Symbient Environmental, received $1.5 million.

Symbient Environmental is a start-up wastewater treatment company that is pioneering a low-cost system to disinfect wastewater using performic acid instead of chlorine, reducing impacts on aquatic environments.

“Canada’s entrepreneurs have the ideas that will help solve some of our planet’s most pressing environmental problems, but they cannot do it alone,” said Leah Lawrence, President and CEO, Sustainable Development Technology Canada.

“With our support and funding at all stages of development, we are helping companies reach commercialization faster so that they can tap into the strong global demand for sustainable solutions across every sector of the economy.”