The Centre for Ocean Applied Sustainable Technologies (COAST) is pleased to announce the organization has received $2 million in funding from the BC Ministry of Energy, Mines and Low Carbon Innovation.
Provided through B.C.’s Innovative Clean Energy Fund, the investment will support COAST’s development of a world-class ocean technology innovation hub and cluster across Pacific Canada.
“We are grateful to the Ministry for their investment,” says COAST CEO Emilie de Rosenroll. “COAST is on an exciting journey to fulfill our 2030 vision to establish Pacific Canada as a world-leader in ocean technology innovations that create scaled economic and environmental impacts, especially new technologies focused on solving climate challenges and supporting sustainability across marine industries.”
We’re achieving this goal by bringing key stakeholders together around innovation, export and collaboration, fostering competitive advantages from start up to scale up, and facilitating access to global market opportunities for made-in-B.C. solutions. With the support of our funding partners, COAST is well positioned to leap into new markets and support the hugely untapped potential of this growing sector.”
COAST member Open Ocean Robotics also received $1.75 million from the fund to develop solar-powered, un-crewed surface vehicles with sensors, cameras and communication devices that can capture information from anywhere on the ocean and relay this to researchers instantly.
To date the ICE Fund/SDTC partnership has jointly funded 16 projects worth $338 million. The ICE Fund achieved a leverage ratio of 16:1 with $235 million in private and public sector investments into B.C.’s energy technology innovation ecosystem, in addition to SDTC’s contributions.
“B.C. innovators are building connections, developing technology and fuelling research that will help transition B.C. to a low-carbon economy, including in the ocean-based sector,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation. “Support for these leading-edge, pre-commercial projects ensures that British Columbians can continue to benefit from the growth and diversification of our first-class clean-technology sector.”
The ICE Fund is part of CleanBC, B.C.’s pathway to a more prosperous, balanced and sustainable future. CleanBC supports the government’s commitment to climate action to meet B.C.’s emission targets and build a cleaner, stronger economy for everyone.
COAST is currently exploring land availability and partnerships to house a physical innovation hub where both programs (training, labs, mentorship, startup and accelerator programs) and co-working activities (shared offices for emerging ocean tech companies) can take place.
The organization, a branch of South Island Prosperity Partnership, is also building out its team and hiring new staff, with a significant role soon to be announced.