Canada is building a clean energy future that creates jobs, reduces costs for families and ensures that the country remains a destination of choice for international investment. Central to this goal is the growing global battery market that has the potential to change the way we use and store power, providing a major economic opportunity for Canada while directly supporting efforts to mitigate climate change.
The Honourable Amarjeet Sohi, Canada’s Minister of Natural Resources, announced a new $4.5-million Impact Canada challenge aimed at accelerating made-in-Canada battery innovation to better position the country in the highly competitive global market.
The Charging the Future Challenge was announced during the 2019 Energy and Mines Ministers’ Conference (EMMC), held in Cranbrook, B.C., where ministers from federal, provincial and territorial governments were meeting under the theme Competitiveness and Innovation in Canada’s Energy and Mining Sectors.
The $23-billion global battery industry is expected to grow to more than $90 billion over the next decade, providing a major economic opportunity for Canada across the battery value chain. Central to this growth is the increase in the number of electric vehicles, which are expected to exceed 130 million by 2030, as well as the growing use of storage technology to integrate renewable energy sources into the grid.
The Charging the Future Challenge will help accelerate the most promising Canadian battery innovations from lab to market. During the 18-month challenge, five -finalists will pitch their concepts to a jury of experts to win up to $700,000 each to develop their battery prototype. Ultimately, the most promising battery breakthrough will be awarded a $1-million grand prize.
“The Charging the Future Challenge provides an opportunity to showcase Canadian capabilities and spur innovation in a lucrative industry. With global demand for batteries growing, I challenge all Canadian innovators in the battery chain to apply,” said Amarjeet Sohi, Canada’s Minister of Natural Resources.
“The electric vehicle revolution is well on its way globally, and it is critical that Canada does not miss this economic opportunity. Battery technology is evolving rapidly, and we applaud the federal government for this innovative program which will inspire and showcase Canadian technology in this area,” said Brad Ryder, President and CEO, Electric Mobility Canada.