Government of Canada announces almost $10 million to launch the Clean Hydrogen Hub and scale-up made-in-Canada innovation
Two Simon Fraser University projects will support B.C.’s leadership in the hydrogen economy and local entrepreneurs
May 31, 2024 – Burnaby, British Columbia – PacifiCan
As countries around the world transition to clean energy, investments in cutting-edge technologies will help support a strong economy at home and secure Canada’s position as a global energy leader. By working together with academia and industry, the Government of Canada is fueling new opportunities for local talent and technology to address the global challenge of climate change.
Today, the Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North – Seymour on behalf of the Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), announced almost $10 million in PacifiCan funding for two innovative initiatives led by Simon Fraser University, including the first Canadian academic-industry clean hydrogen energy project of its kind.
Over $9.4 million will be used to establish a new Clean Hydrogen Hub at SFU’s Burnaby campus. This project will also receive $1 million from the Province of B.C.’s Centre for Innovation and Clean Energy, nearly $2.4 million from Simon Fraser University, $1 million from the City of Burnaby, as well as several other partners.
Hydrogen is a low-emission source of energy; however, producing hydrogen can be costly and the process is often reliant on fossil fuels. With over 80 low-carbon hydrogen production projects across Canada, the sector represents over $100 billion in potential investment in domestic clean energy opportunities and jobs. The Hub will be available for companies who want to develop and refine emerging hydrogen-energy technologies.
By using breakthrough, B.C.-developed electrolyzer technology, the Hub will generate hydrogen using hydroelectricity, a clean energy source. This technology also reduces the costs associated with traditional electrolyzers. Once operational, any hydrogen generated by the Hub will be sold to industry users. This will increase the use of hydrogen in B.C. and create a sustainable revenue source for the Hub.
As countries around the globe use more hydrogen, the Hub will help ensure Canadian companies have local access to the resources they need to help them innovate. It is expected that this project will generate $104 million in revenue growth across a number of companies. Also, advancing hydrogen as a fuel source will help Canada meet its goal of net-zero emissions by 2050, create jobs, and produce the energy we need.
PacifiCan is also investing $425,000 to help SFU to deliver its Lab2Market program through VentureLabs. This pilot offers a suite of programs for graduate students and researchers to develop their entrepreneurship skills and efficient commercialize their innovations. This is in addition to $3 million previously announced for VentureLabs in 2019.
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 our province.