OTTAWA: The Government of Canada remains committed to building a clean energy future to strengthen the economy, create good, middle-class jobs and support the natural resource sectors.
This commitment will be more important than ever as we reopen the economy and plan our recovery from the COVID-19 pandemic.
Seamus O’Regan, Canada’s Minister of Natural Resources, this week announced a $1-million investment in SWTCH to address barriers to electric vehicle (EV) adoption.
The company will demonstrate an innovative blockchain-based EV charging platform that will significantly reduce the cost of EV charging transactions and enhance grid efficiency. SWTCH, along with project partners Opus One Solutions, Toronto Hydro, University of Waterloo, University of Toronto, IBI Group and PowerCharge, is contributing to this project, bringing the total project cost to over $2.6 million.
The transportation sector accounts for 25 percent of Canada’s greenhouse gas (GHG) emissions. The increased adoption of EVs is key to decarbonizing our transportation sector and transitioning to a low-carbon future.
By demonstrating an efficient and scalable blockchain-based platform that can record transactions to reduce transactional costs and reduce network congestion, the platform offers a unique option to EV drivers, charging service providers and utilities that would contribute to increased uptake of EVs.
The federal funding for this project was provided through Natural Resources Canada’s Green Infrastructure – Electric Vehicle Infrastructure Demonstration Program, which aims to accelerate the market entry of next-generation clean energy technologies.
The government is committed to spurring innovation and encouraging the widespread adoption of EVs. We will continue to support innovative energy initiatives that reduce pollution, create healthier communities and provide opportunities for economic development.
Seamus O’Regan said: “Driving clean growth, increasing competitiveness and reducing pollution. This is how we get to net-zero emissions by 2050.”
Carter Li, CEO, SWTCH, said:“As electric vehicle adoption grows and our energy systems become increasingly decentralized, our blockchain-based solution is poised to deliver the greatest value to all stakeholders involved in integrating EVs into the distributed energy ecosystem. We’re delighted to partner with Opus to commercialize this unique technology
and grateful for the support of Natural Resources Canada that makes this work possible.”
Hari Subramaniam, Chief of Strategic Growth, Opus One Solutions, added: “We are thrilled to partner with another Canadian company to expand our transaction energy platform into the world of e-vehicles and to enable decarbonization in the industry.”