With 82,000 employees and annual revenues of $17 billion, Canada’s promising cleantech the industry is primed for growth, but its long-term strength depends on export sales.

Ontario leads the way with over $5.7 Billion in exports, accounting for 49% of national ECT product export. StatsCan estimates environmental and clean technology (ECT) activities accounting for $66 billion, about 3.2% of GDP. With Ontario, Quebec, and British Columbia accounting for 78% of the total.
The report identifies six key areas of opportunity;

1. Electrification
2. Transportation modernization
3. Heavy industry decarbonization
4. Innovations in agriculture and food processing
5. Smart buildings and construction
6. Energy storage

With four challenges discussed, summarized below:

1. Inability to scale up
2. Lack of strategic expertise in core areas
3. lack of carbon-pricing alignment between federal and provincial governments
4. Hesitant equity and institutional investors until proof of success in international markets

To get a deeper picture Read EDC’s report on the opportunities and challenges for Canada and the top players globally and at home.