Growing Industry in Ontario
McGuinty Government Helping Grow A New Industry, Creating Jobs
Ontario is supporting the development of new technology that could substantially reduce the cost of solar energy, while creating jobs.
The province is supporting Morgan Solar Inc., a company with a new approach to capturing and concentrating sunlight that could make solar energy highly efficient and affordable. In a radical departure from current systems, Morgan Solar uses no mirrors, prisms or lenses. Instead, the company’s technology makes it possible to build products out of low-cost, light-weight, recyclable materials.
Ontario’s contribution through the Innovation Demonstration Fund will help Morgan Solar refine its prototypes, demonstrate its technology to customers and investors and help create up to 20 jobs.
This investment is part of Ontario’s Innovation Agenda, the province’s plan to make innovation a driving force of Ontario’s economy, and it supports the new Open Ontario Plan to build new opportunities for growth and jobs.
QUICK FACTS
- Ontario is investing $1.86 million in Morgan Solar Inc. through the Innovation Demonstration Fund.
- Solar energy is the world’s fastest-growing energy technology. Since 2002, worldwide photovoltaic production has doubled every two years.
- Ontario has invested in 15 promising Ontario cleantech companies through the Innovation Demonstration Fund.
