BDC Venture Capital has announced a new $100 million fund for smaller, scalable renewable energy and clean-technology projects.
“With this financing, BDC Venture Capital will support Canadian ventures that have the potential both to commercialize scalable ECT technologies and to generate significant returns,” said Tony Van Bommel, senior managing partner of the Energy/Cleantech (ECT) fund.
BDC Venture Capital said the capital differs from previous funding for clean tech. Instead of focusing on large, capital-intensive projects like solar or wind farms or the production of biofuels, the ECT fund will invest in “scalable, capital-efficient ventures that can significantly improve the efficient use of scarce resources.”
BDC Venture Capital is part of the Business Development Bank of Canada, which is owned by the federal government.
