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This has been an exciting time for clean technology, a challenging time for the global economy, and a period of intense innovation at SDTC as the organization has continued its eforts to support the commercialization of Canadian clean technologies.

Over the past four years, I have seen growing and widespread recognition of cleantech’s economic, social and environmental benefts. Industry has become increasingly aware of cleantech as a tool for achieving efciencies, controlling costs and, in many cases, diversifying revenues. Larger companies, in particular, have become more active adopters of clean technologies, and the private sector is putting its money behind these innovations as a follow-on investor to SDTC funds.

Today, SDTC is the ‘funder of frst resort’ in Canada for clean technology. In 2012 we received 224 applications and committed funding to 24 projects. Our original SD Tech Fund™ is now fully allocated, with its $592 million investment leveraged several times over for a total portfolio value of $2.1 billion.

I was pleased last year for the Board to approve an additional two projects for funding through SDTC’s NextGen Biofuels Fund™ (NGBF). These large-scale demonstration projects in Alberta and Quebec, in addition to last year’s initial project decision, represent a total commitment of $1 million for front-end development with the potential to rise to $121 million at the fnal investment decision stage. These projects will help prove out Canada’s capacity to produce a range of biofuels on a commercial scale.

We welcomed three new members to the Board in 2012. John Bradlow is a senior partner at Penfund, one of Canada’s leading private equity frms. Jason Lee is Chief Operating Ofcer of Ooka Island,

It has been my privilege to serve as Chairman of SDTC’s Board of Directors since my appointment in 2008.

2 SDTC 2012 Annual Report

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