Ottawa-based research funding company Precarn Inc., the Ontario Centre for Environmental Technology Advancement and the Ontario Centres of Excellence Inc. are partnering to fund R&D by small- and medium-sized environmental companies in Ontario.

Under the joint program, each partner will contribute $300,000 over three years. Contributions by participating companies will bring the total investment to approximately $1 million.

The money will help bring to market environmental products and services developed by Ontario-based small and medium-sized companies. Each project will involve collaborations between the company leading the development of the technology, an end user, and a university or college.

"From improving water quality in communities across the country to remediating contaminated soil, environmental issues are of paramount concern to Canadians, and this partnership will make important contributions towards resolving environmental challenges within our country, as well as outside our borders," Paul Johnston, president and CEO of Precarn, said in a statement.

Mark Romoff, president and CEO of OCE Inc., cited the rapidly growing number of young environmental companies OCE has worked with for the last two decades.

"Ontario's universities and colleges have a great deal to offer Ontario companies, including world class expertise and top-notch testing facilities – two resources not easily accessible to most small firms," Mr. Romoff said. "At the same time, relationships fostered by the projects will also create opportunities for students who are the entrepreneurs of tomorrow."