Ontario government lending $4M to Solantro

OBJ Staff
Send to a friend

Send this article to a friend.

Ottawa-based Solantro Semiconductor has received a $4 million loan from the provincial government, the Ministry of Research and Innovation announced on Wednesday.

(Stock image)

The money will support the field-testing of semiconductor technology that’s intended to increase the energy output of solar panels, while lowering the cost.

The money will also be used to create at least 20 new jobs in Ottawa, the province said.

“We are giving Ontario companies, like Solantro, the tools they need to compete and win in the global marketplace. Today’s announcement will not only mean new jobs in the Ottawa area, but it will help secure our place as a world leader in renewable energy manufacturing,” said Bob Chiarelli, member of provincial Parliament for Ottawa West-Nepean, in a press release.

Organizations: Ottawa West-Nepean

Geographic location: Ontario, Ottawa

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments

Recent comments

  • Omar
    December 19, 2013 - 13:13

    For those who know Solantro's CEO it must be hard to understand how his libertarian beliefs can reconcile with this government largesse that, on principle alone, he would oppose. So much for that when $4m might make the difference between getting your product to market or not. The problem with programs like the Innovation Demonstration Fund is that they invariably prolong the life (or death) of companies that can't withstand the harsh reality of market economics.

  • anonytron
    December 19, 2013 - 09:15

    You have chosen to censor my comment. I in-turn posted it on youtube under ottawa business journal with a note stating you censor, and are on the side of corrupt politicians and corporate welfare. I will also included this message on youtube.

  • anonytron
    December 18, 2013 - 16:11

    It's amazing everyone allows Bob chiarelli hand out millions of dollar in corporate wellfare to his 'buddy' at Solantro, at the same time he has raised hydro rates on all other business making them less competitive in the global economy. How do you think Solantro's competitors in Ottawa feel about tax payer's money going to help bob chiarelli's hand-picked winner? I hope not only Solantro goes bankrupt in the next couple of years, but also wish all business would leave Ontario like I have, and generate revenue in places where socialists/unions/liberals have not bullied their way into high-jacking the people's infrastructure like healthcare, electricity grid and transport to pad their own pockets. Ontario deserves bankruptcy, and will soon get it.