About two years ago, Gillian Holcroft co-founded a company to sell two patented technologies that would allow miners to produce and recycle graphite in an environmentally friendly manner.As a company that spun out of Kingston Process Metallurgy Inc., Holcroft’s Green Graphite Technologies Inc. was on the industry’s radar, but still taking baby steps in 2021 and relatively unknown in the sector. She and her team needed some recognition. came into play.
“Because they knew that we went through the SDTC due diligence, they knew that we had our house in order,” she said. “Their due diligence is pretty intense. It makes companies like ours on the path to make sure that we have all our decks lined up.”But funding through the SDTC was temporarily suspended by Industry Minister François-Philippe Champagne this week due to compliance issues.
For example, the report said the SDTC did not consistently follow conflict-of-interest policy in various situations. One such case was while providing COVID-19 relief payments. A company that received the payment appeared to be ineligible, the report said. The SDTC said the report found “no clear evidence of wrongdoing or misconduct” in a statement on Oct. 4, and that it was “carefully reviewing” the report and taking action to implement the recommendations.
Companies that received SDTC’s funding, such as miner Nouveau Monde Graphite Inc. and Brain Box AI, which focuses on greener heating, ventilation and air conditioning systems, echoed Holmes’s opinion on the role the association plays to boost companies and encourage innovation.
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Source: financialpost - 🏆 7. / 85 Read more »