A company that was co-founded by an alumnus of Waterloo Engineering has secured $4 million in backing from the federal government to help commercialize new green energy technology.
Clear Blue Technologies, which is headed by CEO and co-founder Miriam Tuerk (BASc ’85, electrical engineering), was launched in 2011 to bring smart, clean, renewable, efficient and cost-effective power to billions of people who still lack access to reliable power.
Based in Toronto, the company now has projects using the sun and wind to power telephone systems, streetlights and agriculture in 37 countries.
It plans to use an interest-free, $4-million loan through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to commercialize Pico-Grid, a power system for satellite wi-fi and Internet of Things (IoT) applications, by the end of the year.
“Clear Blue’s solutions provide a highly compelling return on investment for its customers and supports the transition to a green economy,” Tuerk said in a media release.
Earlier this year, Tuerk was named to a Globe and Mail list of the top 50 emerging national leaders in business and academia.