Question Period Note: Support for clean growth in Quebec

Support for clean growth in Quebec

• Canada Economic Development for Quebec Regions contributes to government objectives by supporting businesses and communities in their transition to clean, sustainable economic growth.

• As part of its new green plan, Canada Economic Development for Quebec Regions is focusing more on the green transition as well as on business innovation as levers for growth and competitiveness in order to contribute to the sustainable development of Quebec's regions.

• Since November 2015, Canada Economic Development for Quebec Regions has backed close to 500 clean technology projects for authorized assistance of more than 370 million dollars, generating total investments of over 3 billion dollars.

CED contributes to the shift towards a green economy by supporting projects involving the commercialization and adoption of new technologies and clean products in various fields, such as bioproducts, bioenergy, energy efficiency and sustainable development measures.

CED participates in the transformation of a cleaner and more sustainable economy and prioritizes projects from companies or organizations that contribute to this objective, both for those submitted through its regular programming and through stimulus initiatives such as the Jobs and Growth Fund (JGF) and the Aerospace Regional Recovery Initiative (ARRI).

• In the 2016 Budget, the federal government required the regional development agencies, including CED, to double their annual investments in clean technologies. For CED, this represents an annual target of $25 million, which has been achieved every year.

• CED’s support for clean growth, both through its regular programs and special initiatives, can be broken down as follows:

• Support for start-up or growth projects by businesses that develop and commercialize clean technologies

  • Support for projects involving the adoption of clean technologies
  • Prioritization of projects whose primary goal is not necessarily to enhance environmental performance, but which nevertheless have
    positive impact in this regard.
  • Support for organizations that assist or help organize clean tech related businesses
  • Referrals to other relevant government programs (e.g. Sustainable Development Technology Canada)

• Announced on December 15, 2023, CED's new vision for accelerating the green transition of SMEs and the regions includes four concrete commitments:

  • Support for the coaching ecosystem anchored in all regions of Quebec to help SMEs improve their environmental performance as of April
    1, 2023.
  • Doubling the annual target for investments in projects that contribute to the environmental transition of SMEs and regions to $50 million
    within three years.
  • Application, as of April 1, 2023, of an environmental grid to identify the green practices of clients and the green elements of projects in the
    context of new applications for financial assistance to CED programs.
  • Establish a departmental green transition advisory committee.

Project examples

Innoltek inc.
In October 2022, under the JGF, CED authorized a repayable contribution of $500,000 to this Saint-Jean-sur-Richelieu company, which specializes in the manufacture of biodiesel and biodegradable lubricants for the construction and public works sectors, in order to make it greener and help it adopt environmentally sustainable practices and improve its productivity.
Peinture Magnetic inc.
In February 2023, CED authorized a $750,000 repayable contribution to Peinture Magnetic inc. a Sainte-Eulalie-based company offering electrostatic powder coating services, through the Regional Economic Growth through Innovation (REGI) program. In addition to consuming less energy and water than current conventional methods, its innovative LEED-certified process emits significantly fewer GHGs and contaminants.
SEREX
In March 2023, CED authorized a non-repayable contribution of $272,000 to SEREX, a college technology transfer center located in Amqui, specializing in the valorization of forest products and residues, forest bioenergy and the development of ecomaterials. Research and technology transfer activities are geared to meeting the needs of the forest products processing industry.

9351-0618 Québec inc. – Calogy Solutions.
In February 2023, CED authorized a repayable contribution of $1,413,750 under the ARRI program to Calogy Solutions, a Sherbrooke-based start-up offering innovative thermal management solutions for Li-ion batteries used in electric transportation, notably in the aviation sector.

Through its regular programs and special initiatives, Canada Economic Development for Quebec Regions (CED) contributes to clean growth in various ways, including supporting start-up or growth projects of companies that adopt, develop or commercialize clean technologies. In addition, on December 15, 2022, CED launched its green transition action plan, an approach that includes various initiatives aimed at accelerating the green transition among Quebec SMEs.