Environment and Climate Change Canada has announced that Enwave Energy Corporation is the first-ever funding recipient under the Low Carbon Economy Challenge’s Champions stream.
- The Government is investing $10M in the expansion of Enwave’s deep lake water cooling system.
- This technology draws cold water from Lake Ontario and uses it to cool hospitals as well as government, educational, and high-rise buildings in Toronto’s downtown core.
- This project can reduce the amount of energy needed to air-condition buildings by up to 80%, which is especially impactful as temperatures continue to rise due to climate change.
- The Low Carbon Economy Challenge is broken into two streams: the $450M Champions stream and the $50M Partnerships stream.
- While the Champions stream is not currently accepting applications, the Partnerships stream is currently open.