- 3 years ago

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Yesterday MaRS Discovery District announced that the RBC Generator has invested $500,000 in the MaRS Cleantech Fund, the first deal for the investing arm of RBC’s Social Finance initiative.

Launched in 2012, the MaRS Cleantech Fund aims to provide early-stage funding to companies developing next-generation clean technology breakthroughs with global markets, deep intellectual property and capital-lean business models.

The RBC Generator provides financing for enterprises that address clean water, energy efficiency, or employment opportunities for youth or disadvantaged groups.

SEE ALSO: 19 Canadian Companies Nominated for Global Cleantech Awards

The MaRS Cleantech Fund will invest in 10-12 cleantech companies that aim to provide solutions to pressing challenges such as rising energy prices, resource scarcity and carbon emission constraints. The Fund is able to mitigate early-stage investment risks by leveraging its relationship with MaRS, which provides access to a leading network of innovators developing clean and sustainable technologies.

According to Ottawa-based Analytica Advisors, the global cleantech market is expected to reach $3 trillion by 2020.