In March 2016, QD Solar Inc. was awarded $2.5 million in Canadian government grants to help commercialize its latest clean technology development project. This investment has helped enhance and accelerate the market readiness of the company’s new solar photovoltaic technologies.
This contribution was provided by the SD Tech Fund, which supports development and demonstration of innovative clean technologies. The program provides eligible applicants up to 33% of project costs to a maximum contribution of $200,000 – $15,000,000 in Canadian cleantech grants. SD Tech Fund grants can be used to offset field testing and feasibility studies, third-party contractor expenses, and equipment costs.
Currently, solar panels waste a large portion of sunlight’s available energy because their silicon solar cells cannot capture energy produced through infrared light. SDTC’s investment will allow QD Solar Inc. to revolutionize conventional solar panels by enhancing technologies that have the potential to boost overall power generation by 20%.
QD Solar Inc. Receives $2.5M in SD Tech Fund Clean Technology Grants
QD Solar Inc. is a Toronto-based company specializing in the improvement of solar energy components and is a leader within the solar photovoltaic technology market. The business is known for its proprietary quantum dot-based solar cells, which are designed to absorb and store wasted infrared light.
In March 2016, the SD Tech Fund awarded QD Solar Inc. up to $2.5 million in cleantech grants to refine and commercialize new solar photovoltaic technologies. Solar photovoltaic technologies convert solar energy into usable energy forms, such as electricity. The SD Tech Fund will provide QD Solar with the resources to advance, develop, and test solar cells while simultaneously improving the company’s manufacturing processes.
Installing QD Solar’s technologies into conventional silicon solar panels will help increase energy output by 20%.
SD Tech Fund: Canadian Cleantech Development Grants
The SD Tech Fund helps innovative Canadian businesses develop and commercialize disruptive clean technologies. Technology development projects that demonstrate the ability to improve energy efficiency and reduce greenhouse gas (GHG) emissions are well-aligned for funding through SD Tech Fund. Only large-scale technology development or early-stage commercialization projects are eligible for funding.
Applicants may receive up to 33% coverage of project expenses to a maximum contribution ranging between $200,000 to $15,000,000.
Interested businesses must complete a 3-phase application process to apply for SD Tech grants. After completing a statement of intent (SOI), applicants will be asked to submit a detailed project proposal. Submissions must include information about the company’s technology and how the business plans to exploit current market opportunities.
On average, SOI’s are reviewed within 12 weeks but detailed project proposals may take up to 30 weeks to be approved.
This post originally appeared on Mentor Works. Mentor Works helps established for-profit companies find and leverage Canadian business grants and loans.