July 6, 2022

The Queens County Citizen

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Compétivert achieves its goals two years ahead of schedule

Compétivert achieves its goals two years ahead of schedule

Quebec companies clearly need a program like Compétivert: we have surpassed the $ 375 million budget we had planned for three years to promote eco-responsible practices in less than a year.

Posted at 8:00 a.m. yesterday

Kareem Benessaih

Kareem Benessaih

Launched in March 2021 by Investissement Québec, Compétivert has already used 373.2 million financial interventions as of March 31 for 103 projects. The so-called “excitement” in Investment Quebec is that we have set a new target of 1 billion by 2024, which we will announce this Wednesday.

“It was a great success,” Guy LeBlanc, CEO of Investissement Québec, said in an interview. “Launching Cométivert has brought people together internally: when we talk about clean technologies, it’s called Compétivert. It serves to increase productivity, both to stay competitive and to stay green. It has had a very strong impact on the business level as well as on people outside. ⁇

The CEO is also particularly proud of the seven master classes that provided testimonials from businessmen and professionals who saw over 4,000 people.

Forerunners and inexperienced

The Compétivert program provides loans with a specific convenience, such as a temporary ban on 48-month capital repayment or equity investments in the company. In addition, fifteen industrial environmental performance analyzes have been established in collaboration with the Center de Richard Industrial du Quebec. This diagnosis lists the priority actions to be taken and proposes “profitable and high-impact” technology innovation projects.

Most projects already have companies investing in green technologies and have used this program to improve them. Pyrovev, which specializes in microwave plastic recycling, has expanded its pilot plant in Salaberry-de-Valleyfield, citing examples of UgoWork developing Lion electric and lithium-ion batteries for building electric buses and trucks. Provided by LeBlanc. Forklifts.

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The CEO explained that a group of other companies, a minority for the first year of the program, were “ready to work, but not internally skilled to do so.” “There we are very useful, to help them, to make a fundamentally better diagnosis, for example with their sewage, to purify it for reuse.”

We will mainly target these last companies for the rest of the program. “Our work is in the next two years, and it will continue for more than two years, to persuade those who have not yet started, to support them and to help them develop hygienic technologies. ⁇

Quebec Economy and Innovation Minister Pierre FitzGibbon needs programs like CompetitiveWort. “If we want to be carbon neutral by 2050, we need to multiply such programs to help companies adopt environmentally responsible practices,” he said in a press release.

This is only the first step. LeBlanc assured us. “It simply came to our notice then. When we talk about clean energy, we’re talking about innovation. There is always a way to be more productive and green. ⁇

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  • 1.7 billion
    Total value of projects submitted by companies

    Source: Investment Quebec