VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2013) - The Canadian hydrogen and fuel cell sector received a boost today, thanks to federal funding announced by Andrew Saxton, Parliamentary Secretary to the President of the Treasury Board and for Western Economic Diversification and Member of Parliament for North Vancouver, on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification.
"The Canadian hydrogen and fuel cell sector is well-recognized for producing cutting-edge and innovative energy solutions that have tremendous potential for growth," said PS Saxton. "Our Government is proud to support the Canadian Hydrogen and Fuel Cell Association as they transition the sector to commercialization and help to create jobs and new economic opportunities."
The investment of $646,750 will help the Canadian Hydrogen and Fuel Cell Association (CHFCA) develop and implement the Accelerated Trade and Investment Program for small-to-medium sized enterprises in the western Canadian hydrogen and fuel cell sector. This initiative includes training, consultation, material development and, support of industry presence at key sector/market events. As a result, the program will increase sector sales, attract foreign investments, and promote sector job creation.
"The Canadian hydrogen and fuel cell sector, significantly concentrated in Western Canada, sells most of its' products overseas, and this contribution from the Government of Canada will help accelerate our market penetration to key, developing markets like Korea, China, India, South America and South Africa," said Eric Denhoff, CHFCA President and CEO. "Canadian firms in the HFC sector are pushing aggressively into these markets, and having the right materials, strategy and federal support is critical to our potential for success."
Since 2006, the Harper Government, through WD, has invested in job-creating small- and medium-sized businesses, aerospace, marine and defence industries, and supported innovative entrepreneurs in pursuing emerging markets. By continuing to promote new economic opportunities, WD is helping to create jobs, economic growth, and long-term prosperity.
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