#BC; #CleanBC; #ARC, #EVTechnology; #EconomicDevelopment; #ClimateAction
British Columbia, Jul 11 (Canadian-Media): CleanBC Advanced Research and Commercialization (ARC) program offers $4.18 million in new funding to B.C. companies that are developing new technologies in the electric vehicle (EV) sector, media reports said.
CleanBC ARC Program. Image credit: https://arcbc.ca
Developed in collaboration with the BC Green Party caucus and Andrew Weaver, MLA for Oak Bay-Gordon Head, CleanBC supports the commitment to meet B.C.’s emission targets in the Confidence and Supply Agreement to implement climate action.
Created in 2018, the ARC program provides funding to B.C. companies across all aspects of the EV supply chain to create employment opportunities and expand B.C.-based businesses in the electric vehicle sector, attract international investment in the electric vehicle sector to B.C., and expand exports of B.C.-based electric vehicle products, services and technologies.
Ten years after the first electric vehicles hit B.C. highways, there are now more than 42,000 on the road.
In 2019, electric vehicles represented 9 percent of new cars bought in British Columbia.
The EV sector includes an estimated 250 companies in B.C. that provide 6,000 full-time equivalent jobs (up by 2,150 from 2015) and contribute $600 million to the provincial gross domestic product (GDP) –almost double the 2015 GDP contribution of $373 million.
The companies in this sector include all aspects of the EV supply chain – from raw materials to final consumer products – related to vehicles and vehicle components, batteries and fuel cells, charging stations and other technologies.
“With British Columbia’s economic restart well underway, now is the time to decide the type of recovery we want to see in our province,” said Premier John Horgan in a news release. “The ARC program is part of CleanBC and the work our government has been doing since day one to power a more sustainable economy.”
John Horgan. Image credit: Twitter handle
Part of the Province’s CleanBC plan, the ARC program supports the growth of the EV sector by providing targeted funding for the research and development, demonstration and commercialization of made-in-B.C. technologies, services and products.
“Through CleanBC, we are building a low-carbon economy and creating new jobs and opportunities across the province,” said Bruce Ralston, Minister of Energy, Mines and Petroleum Resources in a news release. “By supporting innovative companies, we can develop and produce made-in-B.C. clean technologies, and be a global leader in the growing electric vehicle sector.”
George Heyman, Minister of Environment and Climate Change Strategy said in a news release that the positive results in the EV sector seen through CleanBC along with these investments will support expanded opportunity for companies, researchers and employees.
A panel comprising experts from the Province, local and federal governments and B.C. post-secondary institutions would be responsible for reviewing funding submissions to the ARC program.