Siemens joins with finance firm for Canadian cleantech

A technology firm has partnered with an investment group to advance cleantech innovation in Canada. Siemens and Kensington Capital have signed a Memorandum of Understanding (MoU) to help accelerate the […]

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By Jonny Bairstow

A technology firm has partnered with an investment group to advance cleantech innovation in Canada.

Siemens and Kensington Capital have signed a Memorandum of Understanding (MoU) to help accelerate the progress of technologies such as smart grids and energy storage.

They also identified a number of other areas to concentrate on, including transmission and distribution, combined heat and power plants, power generation and biomass.

The collaboration also includes potential to jointly pursue infrastructure projects at municipal, provincial and federal levels.

Lucy Casacia, Vice President of Cities & Infrastructure Projects at Siemens Canada, said: “Siemens and Kensington have a longstanding, trusted relationship and share a common goal to demonstrate innovation leadership in Canada.

“Cross-company teams are being formed and we are already actively exploring how to accelerate the development of energy and cleantech solutions that will power Canada’s next 150 years.”

Canada’s national cleantech industry is expected to grow to $26 billion (£20.1bn) by 2018.

The Department for Business, Energy and Industrial Strategy is to provide £28 million of new funding for cleantech innovation projects in the UK.