Nova Scotia creating $24-million capital fund to help clean technology companies
Nova Scotia is setting up a $24-million fund to help clean technology companies access capital.
Premier Darrell Dexter said knowledge-based companies create good jobs, help grow the economy and are vital to the province’s prosperity.
“This fund will support the growth of emerging clean technology companies and move the province in a new direction forward,” Dexter said Wednesday in a statement.
Clean technology includes renewable energy, energy efficiency, air and water quality solutions, and recycling. The government said there are a range of products and services that can provide superior performance at lower costs while minimizing any negative ecological impact.
The fund will be managed by Innovacorp, a Crown corporation that focuses on high-growth potential in early stage companies with innovative proprietary technology.
Innovacorp’s president and CEO said the company is looking forward to working with entrepreneurs, investors and researchers to bring green innovations to the marketplace.
“This additional capital is coming at a time of ever-increasing international demand for clean technologies and solutions,” said Clifford Gross.
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