Eighty-five percent of Canada’s clean technology companies require no subsidies, are globally competitive and are situated in what promises to be a $3 trillion industry by 2020. The findings from “The 2011 Canadian Clean Technology Industry Report” were released Oct. 27 and 28 during the second annual Canadian Cleantech Summit in Ottawa.
The report, supported by the Canadian Clean Technology Coalition and authored by Analytica Advisors, is a comprehensive study of the industry’s revenue and employment profiles and covers nine major sectors: biofuels and bioenergy, energy efficiency, energy infrastructure, industrial processes, power generation, recycling and recovery, remediation and soil treatment and water and wastewater.
“Canadian clean technology companies have proven their competitiveness by posting a compound annual growth rate (CAGR) of 19 percent during the recession, and they grew by 56 percent in 2010,”
said Càƒ©line Bak, co-founder of the Canadian Clean Technology Coalition. “Canada’s clean technology industry already employs 44,000—similar to Canadian employment in mining—generates half of its sales from exports. We have the potential to build a $60 billion industry by 2020.”
- Canada has close to 700 clean technology companies,
- The average Canadian clean technology company employs 62 people,
- Industry employment grew 11 percent (CAGR) from 2008 to 2010,
- If the current growth rate is maintained, clean technology industry employment could total 75,000 by 2015 and 126,000 by 2020,
- Canadian 2010 clean technology industry revenues totaled $9 billion,
- Canadian-owned clean technology companies generated 86 percent of this revenue,
- Canadian-based foreign subsidiaries generated 14 percent of this revenue, and
- Canada’s clean technology industry revenues grew at a CAGR of 19 percent between 2008 and 2010.
· If Canadian clean technology companies maintain a 19 percent CAGR, Canada’s clean technology industry revenues will reach $61.4 billion by 2020—about the size of Canada’s automotive industry today.
“These powerful numbers speak to the proven potential of Canada’s clean technology entrepreneurs,” said Tyler Hamilton, author of the book “Mad Like Tesla, which was launched in Ottawa during the summit. “‘In Mad Like Tesla,’ I look at some of the unconventional approaches scientists, inventors, academics and entrepreneurs are taking in their quest to put Canada and the world on a low-carbon, climate-friendly diet, as well as the many barriers they face in their journey. To have so many of such innovators all in one place at this summit is a reason to be optimistic about the future.”
OCRI president and CEOBruce Lazenby said that many companies are pursuing exports, adding jobs and participated during the Canadian Cleantech Summit.
“Here in Ottawa, our clean technology business ecosystem is home to 250 companies—including 80 technology companies—with existing and emerging strengths in green buildings, the conversion of waste and residuals to energy, clean water and the convergence of ICT and cleantech,” he said.
About the Canadian Clean Technology Coalition
The Canadian Clean Technology Coalition is an innovative alliance of companies and stakeholders who are moving their products and know-how into the Canadian and global green technology marketplace. The coalition was founded to provide coherent policy advice to governments to increase the success of the sector.
About Analytica Advisors
Analytica Advisors provides innovation, R&D and trade policy advisory services. It also published the 2011 Canadian Clean Technology Industry Report and Company Database, which examines a wide range of relevant areas, including Canadian clean technology companies that can contribute to corporate social responsibility initiatives through technology adoption.
Leading the way for Ottawa, OCRI is the city’s economic development agency. OCRI is the rallying point to bring business, education, research and talent together to create the winning economic conditions that allow Ottawa’s knowledge-based companies to thrive locally and compete globally. In 2010, Ottawa was named one of the world’s top seven intelligent communities by the Intelligent Community Forum (ICF).