Edmonton Emerges as a North American Leader in Clean Tech Investment and Innovation

Edmonton Emerges as a North American Leader in Clean Tech Investment and Innovation

A report by leading clean tech organizations highlights Edmonton’s prowess in attracting clean technology investment and fostering innovation.

Edmonton, the capital city of Alberta, Canada, has taken center stage as a North American leader in clean technology investment and innovation. A report by a consortium of companies involved in clean tech work has identified Edmonton as one of the top clean tech ecosystems to watch in the region. The findings of this report will be presented at COP28, the United Nations annual climate change conference. Clean tech focuses on reducing emissions and adopting environmentally conscious practices to achieve net-zero targets. With policymakers, advocates, and researchers gathering at COP conferences to shape climate change policies, Edmonton’s achievements in clean tech have garnered attention and recognition.

Ocean Economy and Climate Technology Converge

Kendra MacDonald, the CEO of Canada’s Oceans Supercluster, is part of the team presenting the report at COP28. Her team has explored the intersection of “blue tech” (ocean economy and related technologies) and climate technology. The focus is on transforming ocean-related businesses by embracing digitalization, sustainability, and inclusion. MacDonald emphasizes the potential of Alberta, located in the heart of the country, to contribute significantly to advancements in clean tech.

Edmonton’s Rise as a Clean Tech Hub

According to the Global Startup Ecosystem Report Climatetech Edition by Startup Genome, Edmonton and Calgary are the top two clean tech ecosystems to watch in North America. The report highlights Edmonton’s ability to attract investor interest despite global slowdowns. In 2022, venture capital investment in Edmonton reached $76.3 million across 23 deals. The city’s reputation as a low-cost destination with a high quality of life has made it an attractive location for startups seeking access to a pool of young and educated talent.

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Success Stories and Collaborations

Edmonton-based software company Jobber, which secured $100 million US in venture capital funding, stands out as a success story in the city’s tech sector. Catherine Warren, CEO of Edmonton Unlimited, a city-funded organization, commends Edmonton as an inclusive city of innovators tackling global challenges such as the climate emergency, public health, and food security. The report also recognizes Edmonton’s seven post-secondary institutions, including the University of Alberta, known for its expertise in AI, machine learning, and clean tech innovations.

Alberta’s Leadership in Clean Tech

P. Devereaux Jennings, who has been involved in clean tech and teaches related courses at the University of Alberta’s School of Business, highlights Alberta’s longstanding leadership in the energy sector. Even before clean tech gained popularity, Alberta was at the forefront of energy-related sectors. Over the past five years, the province has witnessed a significant shift towards renewable energies, including solar, geothermal, and wind. Jennings emphasizes the importance of specialization in investment and innovation, with Alberta already establishing itself as a hydrogen hub and making strides in forestry and tourism.

Conclusion:

Edmonton’s emergence as a North American leader in clean tech investment and innovation is a testament to the city’s commitment to sustainable practices and its ability to attract talent and investment. With its focus on blue tech and collaborations between the ocean economy and climate technology, Edmonton is forging new paths in clean tech. The city’s strong post-secondary institutions, such as the University of Alberta, contribute to its expertise in AI, machine learning, and clean tech innovations. As Alberta continues to specialize in renewable energies and other sectors, it positions itself as a key player in the transition to a sustainable future. Edmonton’s success story serves as an inspiration for other cities aspiring to become clean tech leaders.

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