The Guelph, Ont.-based solar-power company reported $2.31 billion in revenue for the second quarter of the year, beating expectations, and reporting $74 million in profit. The company’s shipments increased by nearly 40 per cent compared with the same period last year. (The Logic)
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The Guelph, Ont.-based solar-power company reported $2.31 billion in revenue for the second quarter of the year, beating expectations, and reporting $74 million in profit. The company’s shipments increased by nearly 40 per cent compared with the same period last year. (The Logic)
Talking point: Canada’s cleantech sector has been resilient in the midst of a broad market downturn that’s been particularly hard on tech companies. Venture capital funding for Canadian companies in the sector grew 21.6 per cent between the first and second quarter of 2022, and jumped 223 per cent year over year in the second quarter. Overall VC funding in Canada, meanwhile, contracted by more than 50 per cent in the most recent quarter compared to the same period last year. Global efforts to stem climate change, including the wave of recent net-zero pledges, represent a boon to companies like Canadian Solar, whose technologies can help reduce and offset emissions.
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