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A partnership to promote green energy

Defence and aerospace companies seeking to track and mange offset credits for investment in Canada’s green energy sector will have a new mechanism.

Sustainable Development Technology Canada (SDTC) and OMX signed a memorandum of understanding at CANSEC 2014 that will see SDTC use OMX’s software as the primary database for its Aerospace, Defence and Security (ADS) Cleantech Program. The arrangement will allow defence contractors to invest in innovative green energy projects as part of their offset obligations.

“This partnership is extremely exciting, both for the future of Canadian technologies that promote a cleaner world, and for defence organizations globally,” said Nicole Verkindt, founder and president of OMX, whose software allows companies bidding on government defence and security projects to track offset credits, “with the ability to output detailed regional and industrial benefits.”

Vicky Sharpe, president and CEO of SDTC, said the MOU “makes it easier than ever for international players to invest in Canadian cleantech, ensuring that they have the tool they need to effect maximum benefit to the Canadian economy. We are excited to take this step with OMX.”

According to a press release, since 2010 SDTC has facilitated over 19 transactions worth more than $300 million through its ADS Cleantech Program.

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