The Business Development Bank of Canada will deploy the second fund for low-carbon technologies over five years. It follows a $600-million cleantech fund invested over four years beginning in 2018. (The Logic)
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The Business Development Bank of Canada will deploy the second fund for low-carbon technologies over five years. It follows a $600-million cleantech fund invested over four years beginning in 2018. (The Logic)
Talking point: BDC said its first cleantech fund, which backed 50 companies, attracted $6 in outside capital for every $1 it invested. The federal Crown corporation is pulling back its direct support for cleantech at a time when the industry is expected to grow to US$423.7 billion by 2026, up from US$283.9 billion in 2020. While that may seem like a lost opportunity for BDC, it fits with its mandate to spur financing for underfunded sectors and entrepreneurs without crowding out private investors.
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