2024 Highlights: Advancing Cleantech Adoption

As 2024 came to a close, our Atlantic Canada Road Tour highlighted the immense opportunity for cleantech adoption to drive productivity, competitiveness, and sustainable growth across Canada’s eastern provinces. Through events in each Atlantic province, partnerships with key regional organizations, and a deeper understanding of the region's unique strengths and challenges, the tour reinforced the region’s critical role in advancing the nation’s net zero economy.

Highlights from last year’s road trip include:

• Regional engagement: Four events were hosted—one in each Atlantic province—engaging over 386 participants to discuss strategies for accelerating cleantech adoption and boosting regional competitiveness.
• Strategic partnerships: There were collaborations with organizations such as Net Zero Atlantic, Springboard Atlantic, econext, PEI Cleantech Academy, InnovateNB, Venn Innovation, and Propel to amplify cleantech momentum.
• Building networks: MOUs were signed with the Smart Energy Innovation Network and Smart Energy Halifax, alongside joining the NB Energy Cluster. We also expanded our advisory network by welcoming two new Executives in Residence (EIRs) based in Atlantic Canada, Sean Williams and Carolyn Crewe. They join our existing East Coast EIRs, Jeff Graham and Michael Dennis, to provide specialized expertise in scaling cleantech solutions.
• Showcasing regional leadership: Delegations were led to Smart Energy Vancouver and the Foresight 50, showcasing the innovative contributions of NBIF, Opportunities New Brunswick (ONB), and New Brunswick cleantech companies on a national stage.
• Thought leadership: Keynotes and panel discussions were delivered at events like Green Horizon (The Pond-Deshpande Centre), the econext Annual Conference, and the Atlantic Indigenous Led Energy Symposium, further highlighting the region's potential.

Challenges and Opportunities for Growth

Atlantic Canada is emerging as a dynamic hub for cleantech innovation, leveraging strengths across transformative sectors like renewable energy, ocean technology, agriculture, digital technologies, biosciences, the built environment, and forestry. The region’s focus on sustainability, critical minerals, and emerging technologies positions it to unlock significant economic growth, boost productivity, and strengthen competitiveness while driving Canada’s progress toward net zero. 

I witnessed firsthand the Atlantic region's incredible enthusiasm for cleantech collaboration. It’s clear there’s a shared commitment across the region to embracing cleantech and making a real impact, both environmentally and economically. This momentum is reflected in the eight Atlantic companies that applied for the 2024 Foresight 50 list, and I couldn’t be prouder that Climative and Zen Energy were recognized for their innovative contributions.

That said, there are challenges that need attention. Access to early-stage funding continues to be a hurdle for many startups, slowing their ability to scale innovative solutions. Similarly, adoption rates across the region, despite notable progress, must accelerate to meet sustainability goals and capture emerging market opportunities. There's real potential, but bridging these gaps will be essential to sustaining momentum.

Key opportunities to strengthen Atlantic Canada’s cleantech ecosystem include:

• Regional collaboration: Building stronger networks to drive partnerships and accelerate cleantech adoption together.
• Hydrogen development: Leaning into the region’s natural strengths to contribute to Canada’s leadership in hydrogen production, supporting national efforts to become a global leader in clean energy.
• Driving adoption: Leveraging programs like Foresight's Innovation Challenges, tailored research and business cases, and Cleantech Adoption Platform, to help industry leaders de-risk and scale technology adoption, and overcome operational challenges.