Ontario government announces Centre of Excellence for Energy

TORONTO Economic Development and Trade Minister Joseph Cordiano today announced $8 million in funding, over four years, to create a new Centre of Excellence for Energy.

"The Centre of Excellence for Energy will further the government's innovation agenda by encouraging research and development into leading edge and emerging energy sources and technology," Cordiano said. "This funding is part of the Ontario government's $1.8 billion commitment to support research and commercialization to ensure our continued prosperity and maintain Ontario's position as a leading innovation economy."

The new Centre of Excellence for Energy will help to:

- Explore options for viable, affordable long-term and environmentally-friendly energy supplies in Ontario;

- Increase the number of high-value jobs in Ontario and strengthen our industrial base;

- Aid in research and development, and bring to market made-in- Ontario;

The Ontario Centres of Excellence linked approximatmW r zly 800 companies to nearly 4,000 academic researchers at more than 200 post- secondary institutions, and attracted $24 million in investments from the private sector in the year ending March 31, 2004.

"The McGuinty government is committed to protecting the interests of Ontarians by ensuring a reliable, sustainable and diverse supply of competitively-priced power for the province, while promoting energy conservation," said Dwight Duncan, Minister of Energy. "This new Centre of Excellence for Energy is the latest pillar in the province's long-term energy strategy."

The Centre of Excellence for Energy is expected to be in operation this spring and build even more value into the successful Ontario Centres of Excellence program. It will explorenergy technologies and bring them into the marketplace.

Ontario is an active partner in the development of emerging energy technologies such as fuel cell and hydrogen systems, bio- fuels production, wind power and alternative energy vehicle development.

Canada Newswire