Share this article
The opportunity for Canada to create a $50 billion industry by 2022 is highlighted in the report published today by Analytica Advisers. The industry is making continued progress and is evolving into a globally competitive, multi-billion dollar industry with a potentially transformative impact upon Canada’s economy.
In another year of sustained growth in 2014, the Canadian clean technology industry continued to achieve some impressive industry performance statistics:
- EcoSynthetix is part of the 74 percent of clean technology companies that are exporting today. In 2012, the industry generated $5.8 billion in exports.
- EcoSynthetix is one of over 700 innovation-driven companies located across Canada working with thousands of direct suppliers across ten sectors.
- The industry currently has $11.3 billion in revenues, or one percent of global market-share. The industry boasts a Compound Annual Growth Rate (“CAGR”) of 10 percent from 2010 to 2012, compared to 1.7 percent growth in the Canadian economy as a whole.
- As a growing company, EcoSynthetix is part of an industry that has created 41,100 jobs across Canada. Jobs grew at a rate of 6 percent from 2010 to 2012 – 200 percent faster than the national average. Twenty percent of the clean technology’s industry workforce is comprised of Canadians 30 years of age and younger.
- EcoSynthetix contributes to an industry that invested over $1 billion in research & development (“R&D”) in 2012, and $5 billion from 2008 to 2012, of which $3.5 billion was from small and medium enterprises (“SMEs”).
“Exports represent the vast majority of our sales. In 2011, we consolidated our operations in Burlington with the support of industry leaders, like Sustainable Development Technology Canada, and since that time we have hired more than 24 new employees in Canada to support our growth,” said John van Leeuwen, CEO of EcoSynthetix. “These employees conduct leading-edge research and development on our proprietary, sustainable polymer technologies at our Centre for Innovation inBurlington. In addition to our own work, we have also established a series of collaborative relationships with universities and institutes throughout the region for fundamental research that can accelerate the development process. We’re innovating right here at home and bringing new products to world markets.”
The 2014 Canadian Clean Technology Industry Report includes insight from Canadian Clean Technology companies, includingEcoSynthetix. The Report examines the clean technology industry’s achievements in creating jobs, exports, innovation and competitive performance. The Report also discusses why the industry is both Canada’s first new industry in the 21st century and a foundational base for growth, global competitiveness and productivity in other industries.
Building on the groundwork laid by the 2010 SDTC Cleantech Growth & Go-To-Market Report and the 2011 and 2013 Canadian Sustainable Technology Industry Reports, the findings from the 2014 Report show that the Canadian clean technology industry has now become a meaningful contributor to the Canadian economy. The industry is emerging as a powerful player and companies, like EcoSynthetix, are targeting and winning in global markets.
“Clean technology is one of Canada’s first 21st century industries. It has a growing presence in international markets and is bringing economic opportunity across the country. At current growth rates this will become a $28 billion industry by 2022, employing over 75,000,” said Céline Bak, President of Analytica Advisors. “Much of this growth will be driven by exports to international markets. Three quarters of clean technology companies are currently exporting, and close to ninety percent expect to export in 2015. Twenty-two percent of industry revenues are already generated from exports markets other than the U.S.
“Yet this dynamic industry remains one of Canada’s best kept secrets. It is time for Canada to take notice. Canadian companies are bringing solutions to some of the world’s most technically demanding problems and young people are seeing an opportunity to build their careers here for the long term benefit of our economy and the environment.”
The clean technology industry is becoming a significant component of the Canadian economy. Canada should recognize that this industry is ready to play to its potential, to set an ambitious goal to build a $50 billion industry so that it can deliver that potential to the Canadian economy.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in bio-based products that can be used as inputs in industrial manufacturing for a wide range of consumer products. The Company’s products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance. EcoSynthetix’s lead product,EcoSphere® biolatex® binders, is used commercially by a number of the global top 20 manufacturers in the coated paper and paperboard industry.
About Analytica Advisors
Analytica Advisors is a registered Beneficial Corporation dedicated to research and advisory services for a growing Canadian and global economy. For more information visit www.analytica-advisors.com
The 2014 Canadian Clean Technology Industry Report was authored by and is available from Analytica Advisors. For more information contact: email@example.com
Forward Looking Statements
Certain statements in this Press Release constitute “forward looking” statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. These statements reflect our current views regarding future events and operating performance and are based on information currently available to us, and speak only as of the date of this Press Release. These forward looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that our results of operations and business outlook are subject to significant risk, volatility and uncertainty. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including the factors identified in the “Risk Factors” section of the Company’s Annual Information Form dated March 28, 2013. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, we do not intend and do not assume any obligation to update these forward looking statements.
SOURCE EcoSynthetix Inc.
For further information on EcoSynthetix, please contact:
Director, Marketing Communications
Phone: (289) 245-4017
Phone: (416) 815-0700 (Ext.238)
For further information on the 2014 Canadian Clean Technology Industry Report, please contact:
Phone: (613) 866-9157