VANCOUVER – Last-mile routing software provider Routific will receive $18 million in federal funding for cleantech development.
Based in Vancouver, British Columbia, Routific uses artificial intelligence to optimize routes for the last leg of the delivery supply chain. These algorithms have shown to be 20 percent more effective than human dispatchers, which will reduce fuel costs across the industry.
SDTC is a foundation created by the Government of Canada to support Canadian companies with the potential to become world leaders as they develop and demonstrate new technologies to address pressing environmental challenges.
SDTC has invested over $1.15 billion in almost 400 companies. These companies are creating more than 13,000 jobs, and reducing greenhouse gas emissions by 18.1 megatonnes of carbon dioxide equivalent annually.
“Canada’s cleantech entrepreneurs are on the verge of breaking through,” said Leah Lawrence, SDTC’s president and CEO. “SDTC is proud to play a central role in supporting our Team Canada Cleantech leaders to Own the Podium.”
Canada is number one in the G20 for cleantech innovation. In January 2019, 12 Canadian companies were recognized on the 2019 Global Cleantech 100 List. One in ten companies named to the annual Global Cleantech 100 List in the past two years have been SDTC partners.
The cleantech sector is expected to reach a value of 2.5 trillion-dollars by 2022.