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Squamish-based business receives over $2.5 million to help build British Columbia's hydrogen ecosystem and fuel green transportation
[February 23, 2024]

Squamish-based business receives over $2.5 million to help build British Columbia's hydrogen ecosystem and fuel green transportation


The Government of Canada is making investments to position B.C. as a leader in clean technology and power more zero-emission vehicles

SQUAMISH, BC, Feb. 23, 2024 /CNW/ - Across British Columbia, forward-thinking businesses are developing solutions to global environmental challenges. In Squamish, Quantum Technology Corporation's carbon-free hydrogen technology is creating green transportation options and strengthening Canada's clean energy leadership on the world stage.

Today, The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for PacifiCan, announced $2,547,500 in funding for Quantum Technology to scale-up production of its green hydrogen technology.

Quantum Technology manufactures the equipment needed to purify and liquefy gases such as hydrogen and helium. These gases can be used as a carbon-free energy source – critical for creating a net-zero future in sectors like transportation. Quantum Technology is the first Canadian company to build this equipment on a large scale. Now, their innovations are advancing clean energy projects around the world, including powering zero-emission vehicles.

This funding, provided through PacifiCan's Business Scale-up and Productivity program, will help Quantum Technology continue to grow by improving its manufacturing process, enhancing product design, and growing its workforce to meet Canadian and global market demand. In British Columbia, Quantum Technology's expansion will help unlock access to hydrogen as a fuel source and pave the way for greener transportation options.

Today's investment is expected to support over 20 new jobs at Quantum Technology.

Quotes


"Across our province, British Columbians are building a cleaner, more prosperous future. Today's announcement will help Quantum Technology meet global demand for its innovations and create good local jobs. This investment demonstrates PacifiCan's commitment to positioning B.C. as a leader in clean technology."
     -       The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada  (PacifiCan)

"The District of Squamish has established itself as a growing hub of clean technology businesses. As we steadily accelerate through the energy transition to a cleaner economy, non-emitting energy will need to be a growing share of our energy mix. The Government of Canada's investment of over $2.5 million will help Quantum Technology grow to meet Canadian and global market demand in this energy dense net zero fuel. This local investment for a BC-owned business that is quickly growing its market globally will create well paying sustainable jobs right in our backyard. The Government of Canada is committed to making investments like these which will help reach our climate goals and unlock the unmatched opportunities that are present in the green economy."
     -       Patrick Weiler, Member of Parliament West Vancouver—Sunshine Coast—Sea to Sky Country


"Quantum Technology is committed to advancing technology and solutions for green hydrogen as a key to decarbonization. Join us as we innovate, manufacture, and drive the transition toward a cleaner and brighter future."
     -       Calvin Winter, PhD, CFA, President, Quantum Technology Corporation

Quick Facts
  • Quantum Technology is the only hydrogen and helium liquefier system manufacturer in Canada and one of two companies in North America that own and operate helium plants.
  • PacifiCan is the federal economic development agency dedicated to British Columbians. PacifiCan works with partners who are building innovative businesses, creating quality jobs, and supporting inclusive growth throughout British Columbia.
  • The Business Scale-up and Productivity program makes strategic investments in key economic sectors, helping innovative companies accelerate their growth and compete globally.
  • According to the Hydrogen Strategy for Canada report, the global hydrogen industry is expected to reach $300 billion by 2030.
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SOURCE Pacific Economic Development Canada


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