The Government of Canada has announced $5.2 million to boost the B.C. clean technology sector.

The federal funding through PacifiCan, together with $2.3 million from the Province of B.C. will support Foresight Canada to establish the BC Net Zero Innovation Network (BCNZIN).

The network will bring together innovators, businesses and stakeholders to accelerate the development of competitive cleantech solutions, and move them to market. Foresight will initially focus on solutions for B.C.’s forestry, mining and water sectors.

Not only will this network accelerate the development and adoption of clean technologies, it will open up new markets and attract world-class talent to the province. This project is expected to spur growth in B.C.’s cleantech sector, creating 240 new jobs and attracting $280 million in investment. In addition to strong economic benefits, the project has a target of reducing greenhouse gas emissions by 125 kilotonnes.

“Foresight Canada is thrilled to launch the BC Net Zero Innovation Network, made possible through funding contributions from PacifiCan, the Province of British Columbia, and other partners. This project will take cleantech innovation in British Columbia to the next level, allowing climate ventures and industry leaders from key sectors across the province to develop and scale critical climate solutions that attract capital, generate green jobs, drive exports, and accelerate domestic industry sustainability. Initiatives like this will significantly accelerate Canada’s transition to a net-zero economy, and Foresight is excited to demonstrate this model in B.C,” said Jeanette Jackson, CEO, Foresight Canada.

The Government of Canada has committed to net-zero emissions nationwide by 2050. In B.C, PacifiCan is investing in the development and adoption of clean technology solutions to help meet this goal.