A key component of Cleantech Commons at Trent University is getting a $4.8-milllion boost from the federal government.

The Federal Economic Development Agency for Southern Ontario announced the funding, via a special virtual event on July 23, to support infrastructure in the Trent Enterprise Centre (TEC) – an accelerator initiative in the on-campus research park that will offer shared labs, space for technology assessment, demonstration and piloting, office space, and scale-up facilities specifically designed to support the commercialization of clean technologies.

TEC will be the only clean-technology accelerator in Canada with both shared laboratories and pilot facilities to support clean-tech startups, business growth and commercialization, helping make Peterborough a desirable location for scalable and growth-orientated next-generation ventures and clean-tech entrepreneurs.

“This major federal investment supports our exciting development at Cleantech Commons, which will make the Greater Peterborough region an emerging hub of clean, green technology,” said Dr. Leo Groarke, president and vice chancellor at Trent University. “In partnership with the City of Peterborough, we are working to not only be a leader in this emerging technology field but to also spur economic growth by creating science-based jobs, retaining top talent, driving innovation and attracting more investment.”

“This investment in the Trent Enterprise Centre at Cleantech Commons will support the development of a community of next-generation clean-tech innovators and entrepreneurs that will help to significantly advance solutions to the most pressing energy, environment and climate challenges of our times,” added Cleantech Commons executive director Martin Yuill.

The funding was announced by the Honourable Maryam Monsef, Member of Parliament for Peterborough-Kawartha, and minister for Women and Gender Equality and Rural Economic Development, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages.

“Our industry sector has incredible potential and by collaborating with Trent University and the Peterborough Innovation Cluster we are bringing together the best partners to foster the clean-tech cluster in Peterborough and beyond,” Minister Monsef said.

Cleantech Commons is set to become Canada’s premier green technology research, innovation and commercialization site, hosting a cluster of growth companies and startup and spin-out ventures. It will be a point of convergence for industry and academic partners who are driving advancements in water technologies, contaminant analysis, agro-biotechnology and biomaterials.

The TEC, in partnership with the Peterborough Innovation Cluster, will support 70 companies with business advisory and mentoring services, and the project will lead to the creation of an anticipated 300 jobs.

Learn more about Cleantech Commons – Canada’s premier clean-tech destination.