For Immediate Release
February 4, 2025
St. John’s, NL — Foresight Canada and econext have launched the new Clean Energy Infrastructure Optimization Innovation Challenge, inviting Canadian innovators to present advanced technology solutions that reduce maintenance costs and improve operational performance of remote clean energy infrastructure in Newfoundland and Labrador (NL). This includes wind turbines, transmission lines, storage systems, and both small- and large-scale generation facilities.
NL is emerging as a strategic leader in clean energy development, including green hydrogen, with key advantages that position the province for global competitiveness:
- A clean electricity grid powered by nearly 100% renewable energy
- Significant energy storage potential to support long-term grid stability
- Abundant natural resources and access to land and freshwater for further development
- Established port infrastructure with proximity to major export markets and global shipping routes
- A skilled workforce and deep supply chain expertise in large-scale energy projects
Advanced technologies and innovative solutions are key to unlocking this potential and maintaining the province’s leadership position. By focusing on operational efficiency and cost reduction, NL can maximize productivity and profitability while aligning with national net zero objectives.
More information on NL’s clean energy industry can be found here.
Innovators competing in this challenge have the opportunity to win up to CAD $50,000 in cash prizes and access tailored support to accelerate their proposed solutions. Winners will also gain valuable exposure to the energy industry and its stakeholders, providing a springboard for further development and commercialization.
Click To View the Challenge!
Industry Leaders Supporting the Challenge
The Clean Energy Infrastructure Optimization Challenge is backed by key Industry partners including ABO Energy, EverWind Fuels, North Atlantic, Pattern Energy, World Energy GH2, Newfoundland Power, and Newfoundland and Labrador Hydro. Their support underscores the importance of addressing operational challenges while fostering sustainable growth and innovation.
Driving Economic Growth Through Innovation
In today’s rapidly evolving market, maintaining a competitive edge requires continuous improvement in cost management, productivity, and operational excellence. It’s also key to meeting net zero targets. Foresight’s Innovation Challenge program connects industries with practical, de-risked cleantech solutions designed to address real-world challenges. By facilitating the development and deployment of cutting-edge technologies, Foresight supports industries in achieving measurable results, driving sustainable growth, and enhancing overall efficiency.
“We are honoured to collaborate with econext on this Challenge, deepening our connection with the Atlantic provinces. Clean energy infrastructure is a critical gateway to decarbonization, and by linking the right innovations, we can deliver turn-key, high-impact solutions that can be deployed swiftly—driving sustainability and economic growth across Newfoundland and Labrador and beyond.
Jeanette Jackson CEO, Foresight Canada
“The clean energy opportunity in front of Newfoundland and Labrador is tremendous. From major wind-to-hydrogen projects to large hydroelectric developments, we are on the verge of significant green economic growth in our province. We are excited to be working with Foresight Canada on this challenge to help draw attention to what is happening here – while exploring the application of new and innovative clean technologies.
Kieran Hanley CEO, econext
About econext
econext is a not-for-profit association with a mission to accelerate clean growth in Newfoundland and Labrador by: (1) stimulating research, development, and innovation; (2) preparing its workforce for a greening economy; and (3) acting as a catalyst for climate change action within its industries, businesses, and communities.
econext has been working for over 30 years on behalf of its members across many sectors to support environmentally sustainable economic development. More information can be found at https://econext.ca.
About Foresight Canada
Foresight Canada helps the world do more with less, sustainably. As Canada’s largest cleantech innovation and adoption accelerator, they connect public and private sectors to the world’s best clean technologies, de-risking and simplifying the adoption of innovative solutions that improve productivity, profitability, and economic competitiveness, all while addressing today’s most urgent climate challenges.
This Challenge is made possible through support from RBC and the Atlantic Canada Opportunities Agency (ACOA). Click here to view the official challenge website.
Media Contacts
Heather Kingdon
Communications Manager
Foresight Canada
hkingdon@foresightcac.com
Kieran Hanley
CEO
econext
kieran@econext.ca
