For Immediate Release
May 23, 2008

SWITCHING ON SUNLIGHT FOR CLEAN ELECTRICITY

McGuinty Government Investing In Green Technology

NEWS

An Ottawa-based company will demonstrate its innovative solar technology with the help of a $3-million investment by the provincial government. The technology reduces typical energy bills by up to 60 per cent and has zero greenhouse gas emissions.

Menova Energy Inc. will install its PowerSpar® technology to heat, cool and provide electricity for a 220,000-square-foot Wal-Mart Supercentre to be built in Markham. Wal-Mart is partnering in the installation of the system to help prove the feasibility of the technology for a retail environment. 

The funding is provided as part of the government’s Innovation Demonstration Fund, which is investing $30 million over four years to help companies bring to market technologies that have an environmental benefit. In the latest IDF funding round, Ontario is investing $14 million to support seven promising technologies. The fund is part of the government’s Ontario Innovation Agenda.

QUOTES

“The Innovation Demonstration Fund projects show our commitment to creating the jobs that will power the economy of tomorrow.  Menova is developing a technology that has a global market eager for a clean, affordable energy source. It’s good for the environment, the economy and the people of Ontario.” — John Wilkinson, Minister of Research and Innovation

“Part of our government’s strategy to make innovation a driving force of Ontario’s economy is making key investments in communities across the province – including here in Markham.  I am excited that Menova is developing a ‘Canadian first’ in our backyard that will lead to local jobs.” — Michael Chan, MPP Markham-Unionville

“Clean technology projects like this exemplify the province’s drive to ensure a reliable, sustainable supply of energy into the future.” — Gerry Phillips, Minister of Energy

“This project is the result of Ontario’s growing world leadership in solar energy. Menova’s technology was developed in Ontario and will remain in Ontario thanks to the forward looking policies and commitment from this provincial government."  — Dave Gerwing, President of Menova Energy Inc. 

QUICK FACTS

• Menova Energy Inc. was named “Most Promising Startup of the Year” in 2008 by The Ottawa Centre for Research and Innovation.
• Solar energy can offset traditional sources and provide up to 60 per cent of domestic water heating needs, access to energy in remote locations, and lower greenhouse gas emissions.
• Interest in clean technologies and the bio-economy is exploding worldwide. According to the Cleantech Network, the cleantech segment was in fourth place for overall venture capital investment worldwide for the fourth quarter of 2006. In North America, cleantech captured 10 per cent of the $6.2 billion invested overall.

LEARN MORE

• Canadian Solar Industries Association CanSIA 
• The Ministry of Research and Innovation’s Innovation Demonstration Fund
• Supporting clean technologies through Ontario’s Next Generation of Jobs Fund
• Ontario Ministry of Energy on hydroelectric power
• Ontario’s Innovation Agenda
• May 25 to May 31 is Ontario’s first Energy Conservation Week.

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See also:

• Backgrounder: Making Ontario Greener One Innovation At A Time