Canada's export opportunities anchored in mature, scalable and profitable cleantech solutions
Amid global geopolitical tensions, trade uncertainty and setbacks in climate goals, Export Development Canada's (EDC) latest cleantech industry report highlights Canada's leadership in three high-growth sectors: renewable energy, electric vehicles (EVs) and electrification technologies.The report, titledCanada's cleantech future: Scalable, profitable, essential,underscores the resilience and economic potential of these mature clean technologies, positioning Canada as a vital player in the global energy transition.
“The cleantech landscape is currently being shaped by two competing realities,” says Prerna Sharma, author of the report and senior economist at EDC. “Geopolitical tensions and the urgency of climate action are pulling the energy transition in different directions. Yet, the transition remains economically viable. Clean technologies continue to show strong global growth potential as they are increasingly profitable, low maintenance and well-suited for mainstream adoption. Countries that invest in scalable cleantech will be better positioned to achieve energy security, predictable supply chains and long-term economic growth.”
Canada's cleantech sector holds significant export potential and strategic relevance in a rapidly evolving global market. The nation leads in renewable energy production, has the critical minerals needed to manufacture EV batteries, and is driving innovation in electrification. These subsectors are mature, scalable and profitable-accounting for 90% of global energy transition investments in 2024 and continuing to attract international interest.
“Thegrowing demand for energy security-particularly from regions such as Europe and the Indo-Pacific-positions Canada to respond thanks to our strong capabilities and our global reputation and expertise in the cleantech sector,” says Guillermo Freire, EDC's senior vice-president of the Mid-Market Group. “Since 2012, EDC has made cleantech one of its strategic priorities, recognizing its potential to scale Canadian innovation globally. We actively support the scale-up of Canadian cleantech companies, propelling their innovation, and helping them to address key challenges.” To date, EDC has supported nearly $50 billion in cleantech exports, helping companies of all sizes and subsectors achieve success expanding beyond our borders. In 2024 alone, we facilitated $9.7 billion in business activity for 500 Canadian cleantech companies.
Key highlights from EDC's cleantech report:
— Investor sentiment and market dynamics:Geopolitical instability and economic uncertainty are tightening access to growth capital. Shifting policies-such as reduced U.S. support, tariffs and permitting delays-are creating headwinds. Investors are prioritizing commercially viable clean technologies.
— Renewable and low-carbon energy:Canada is a global leader in hydroelectricity and ranks among the top nations with the potential to meet domestic electricity needs through wind and solar power. EDC's report highlights Canada's competitive edge in exporting clean energy technologies and components in green hydrogen, solar, wind, hydropower and water treatment-especially to high-growth markets beyond North America. Data centres are expected to increase energy demand and renewable energy can fulfill this need for energy.
— Electric vehicles (EVs):EVs are the most effective solution for decarbonizing the transportation sector. Canada holds a strategic advantage with abundant reserves of critical minerals-lithium, cobalt, nickel and graphite-essential for EV battery manufacturing. As global EV adoption increases, demand for these minerals and stable supply chains continues to surge, reinforcing Canada's role in the clean transportation ecosystem.
— Electrification technologies:Electrification is central to Canada's path to net zero,offering a direct path to decarbonize transportation, buildings and industrial processes. Canada's ability to scale renewable energy, manage grid load and intermittency, and innovate in energy storage and efficiency strengthens its leadership in shaping future electricity infrastructure.
For more information, visit EDC.ca.
About EDCExport Development Canada (EDC is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
SOURCE Export Development Canada
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