Government announces $9.5 million investment in Morgan Solar Inc. and NRStor Inc.
December 21, 2017 | By Ellen Cools
December 21, 2017 — On behalf of Minister Bain, Minister Hussen recently announced a $9.5 million investment in two Toronto companies, Morgan Solar Inc. and NRStor Inc., to develop new solar power and energy grid technologies.
The investment in Morgan Solar Inc. supports products based on the company’s proprietary planar optical technology, which it says reduces the amount of material required in solar panels. According to the company, one version is the world’s only translucent high-efficiency panel for building environments, and the other has the potential to be the lowest cost panel in the world for utility applications.
Meanwhile, the government is investing in NRStor Inc.’s proposal to store energy as compressed air and heat, thereby developing greater energy storage capabilities for the Ontario electricity grid.
Funded through Sustainable Development Technology Canada, these investments are part of the government’s Innovation and Skills Plan, and support the Pan-Canadian Framework on Clean Growth and Climate Change.
“These technologies are game-changers in two critical fields: Morgan Solar’s technology will make solar energy more efficient, more flexible and more affordable for consumers; and NRStor’s energy storage builds critical capacity for electricity. SDTC’s funding helps these two companies create real environmental and economic benefits for all Canadians,” said Leah Lawrence, president and CEO, Sustainable Development Technology Canada.
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