Toronto firms to get $9.5 million for cleantech development

Two Toronto-based companies are getting $9.5 million in federal funding to improve on their projects around clean energy technologies. Morgan Solar Inc is expected to use the funds for its solar power cells while NRStor Inc will use the funds to improve on its energy storage capabilities. Morgan Solar’s proprietary planar optical technology can help reduce the cost of materials used in solar panels. An initial first version is the world’s only translucent high-efficiency panel for building environments. The second version has the potential to be the lowest cost panel in the world for utility applications. The funds for NRStor are to develop higher energy storage capabilities for the Ontario electricity grid. By storing energy as compressed air and heat, the system developed by NRStor can help Canadian energy companies create more business opportunities. Investments in these two projects are made through Sustainable Development Technology Canada and support the Pan-Canadian Framework on Clean Growth and Climate Change.