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Government of Canada backs groundbreaking company aiming to commercialize its improved forest management technology

Press Release

From: Innovation, Science and Economic Development Canada

Investment supports Mikro-Tek, a leading environmental biotech company, and will help Canada meet its ambitious climate objectives

December 1, 2021 – Timmins, Ontario

Canada’s cleantech entrepreneurs are proving their power to take on today’s environmental challenges. Working in partnership with innovative companies, the Government of Canada is supporting the growth of a greener economy.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, and the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for the Federal Economic Development Agency for Northern Ontario, announced an investment of $3.7 million in Timmins-based Mikro-Tek through Sustainable Development Technology Canada (SDTC). This is the second SDTC investment in Mikro-Tek and part of a continuing collaboration that will help the company commercialize its improved forest management technology, which is designed to capture carbon from the atmosphere.

Mikro-Tek’s mission is to help industry adapt to a low-carbon future by developing forestry-based carbon offset projects. The company has developed a natural biotechnology process that enhances plant survival, significantly increasing health and growth while reducing the use of herbicides.

Mikro-Tek will use the SDTC investment to apply its improved forest management technology, which increases carbon sequestration in newly planted reforestation seedlings. In addition to enabling industry to offset its carbon footprint through forestry projects, the company’s environmental biotechnology will reduce soil erosion, enhance biodiversity and improve social and economic conditions in a region.

The Government of Canada is committed to investing in clean technology that lays the foundation for a stronger, greener and more sustainable economy that creates opportunities for all Canadians. Today’s investment will help grow our economy and support Canada’s ability to meet its 2030 climate commitments and reach net-zero greenhouse gas emissions by 2050.

Quotes

“Now is the time for ambitious climate action. Cleantech innovation, entrepreneurship and commercialization are key to the vital shift to a healthier environment and a net-zero carbon economy. Today’s announcement will boost our leadership in climate and waste reduction technologies and help foster a truly Canadian success story.”

– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“Commercializing cleantech innovations through partnerships like this one is a critical step in Canada’s journey to a net-zero economy. This $3.7 million investment in a Northern Ontario-based company means superior reforestation and carbon offset technology, as well as more clean economic growth for communities in our region. Accelerating innovation is a key part of our government’s plan for a green economy.”

– The Honourable Patty Hajdu, Minister of Indigenous Services, Minister responsible for the Federal Economic Development Agency for Northern Ontario and Member of Parliament for Thunder Bay–Superior North

“Canadian entrepreneurs are driving the innovation that is moving us towards a more sustainable and prosperous future. This investment will enable Mikro-Tek to rapidly accelerate and commercialize its ideas and continues the momentum of public and private commitments to reducing global emissions.”

– Leah Lawrence, President and CEO, Sustainable Development Technology Canada

“This funding is supporting Mikro-Tek’s project to increase carbon sequestration on reforestation sites in the boreal forest and to assess our technology as an alternative to herbicide applications. Our mission is to work with First Nations partners (Wahkohtowin Development) and forestry partners to develop and commercialize new, improved forestry management technologies and processes, which will help industry and government adapt to a low-carbon future.”

– Mark Kean, President, Mikro-Tek

Quick facts

  • Clean technology companies currently employ more than 211,000 Canadians in rewarding, well-paying jobs.
  • SDTC is an independent federal foundation that funds companies with the potential to become world leaders in environmental technologies and help solve some of the planet’s most pressing environmental challenges, such as climate change and polluted air, water and soil.
  • SDTC is Canada’s largest funder of clean technology entrepreneurs, and its support makes a significant difference in today’s hyper-competitive global market.
  • Since 2001, SDTC has invested more than $1.38 billion in 460 companies that have generated $2.8 billion in annual revenues, created 16,930 jobs, brought 177 new technologies to market and reduced greenhouse gas emissions by 22.4 megatonnes of CO2 annually, which is equivalent to taking almost 7 million cars off the road every year.
  • The world is taking notice of Canada’s leadership in clean technology: 11 Canadian companies, 9 of which have been funded by SDTC, placed on the 2021 Global Cleantech 100 list.
  • In December 2020, the Government of Canada announced A Healthy Environment and a Healthy Economy, Canada’s strengthened climate plan, which has increased support for SDTC with an additional $750 million over five years, representing the single largest Government of Canada investment in SDTC since its inception in 2001.

Associated links

Contacts

John Power
Senior Manager, Communications and Media Relations
Office of the Minister of Innovation, Science and Industry
[email protected]

Media Relations
Innovation, Science and Economic Development Canada
[email protected]

Media Relations
Sustainable Development Technology Canada
343-803-0672
[email protected]

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