Province awards $13.6-million for GreenCentre Canada
A new commercialization model that transforms green chemistry discoveries into real-world products and industrial technologies for reducing harm to the environment has received a major vote of confidence from the Ontario government.
The awarding of $13.6 million to PARTEQ Innovations, Queen’s technology transfer office, in support of GreenCentre Canada was announced at a press conference at the university on Sept. 18.
The centre’s commitment to supporting green chemistry and alternative technologies that reduce or eliminate the use of compounds that are harmful to the environment reflect the objectives of Ontario’s Ministry of Research and Innovation and the Ontario government’s Toxics Reduction Strategy.
“We are extremely gratified that the centre, and what it represents as an highly promising new model for technology transfer, has won the confidence and support of both levels of government,” says John Molloy, president and CEO of PARTEQ Innovations. “With this funding, we are building a global model for technology commercialization for the 21st century.”
This significant investment follows the federal government’s decision earlier this year to award the centre $9.1 million toward the establishment of a national Centre of Excellence for the development and commercialization of green chemistry technologies.
The first of its kind in North America, GreenCentre Canada brings together Canada’s leading green chemistry researchers, industry partners, and commercialization professionals in a common goal of developing cleaner, less energy-intensive solutions for traditional chemical products and manufacturing processes.
“We are reducing the risk factor for industry,” says Rui Resendes, director of Commercial Development in Chemistry and Materials at PARTEQ, and the centre’s executive director. “By enabling universities and the chemical industry to work collaboratively with Canada’s leading commercialization professionals, this will increase the chances that exciting new discoveries are fully realized and become commercial innovations that can make a real difference to the environment.”
Queen’s is extremely pleased that the Ontario government has recognized the value of the work being done at PARTEQ, says Vice-Principal (Research) Kerry Rowe. “Universities are a primary source of the creative spirit and drive that fuel innovation and economic development. And PARTEQ has consistently demonstrated that it knows what is required to harness that intellectual energy and ensure it is transformed into products and technologies that improve our quality of life.”
Over the next five years, GreenCentre Canada aims to manage the commercialization of 50 green chemistry technologies, leading to at least 10 licence agreements, and to establish at least six start-up companies. During this time, they also anticipate the creation of at least 250 highly skilled jobs. The centre is expected to be fully operational by 2010.
For more details, see the full release at http://www.parteqinnovations.com/