The Government of Canada remains committed to building a clean energy future to strengthen the economy, create good, middle-class jobs and support the natural resource sectors as the country continues to plan for its recovery from the COVID-19 pandemic.
The Honourable Seamus O’Regan, Canada’s Minister of Natural Resources, today (Nov. 10) announced a $1-million investment in SWTCH to address barriers to electric vehicle (EV) adoption.
“Driving clean growth, increasing competitiveness and reducing pollution,” O’Regan said. “This is how we get to net-zero emissions by 2050.”
The company will demonstrate an innovative blockchain-based EV charging platform that will significantly reduce the cost of EV charging transactions and enhance grid efficiency.
SWTCH, along with project partners Opus One Solutions, Toronto Hydro, University of Waterloo, University of Toronto, IBI Group and PowerCharge, is contributing to this project, bringing the total project cost to over $2.6 million.
EV: Key to reducing emissions
The transportation sector accounts for 25 per cent of Canada’s greenhouse gas (GHG) emissions.
The increased adoption of EVs is key to decarbonizing our transportation sector and transitioning to a low-carbon future.
By demonstrating an efficient and scalable blockchain-based platform that can record transactions to reduce transactional costs and reduce network congestion, the platform offers a unique option to EV drivers, charging service providers and utilities that would contribute to an increased uptake of EVs.