May 1, 2017 - Siemens Canada and Kensington Capital Partners Limited have entered into a memorandum of understanding (MOU) aimed at accelerating the commercialization of cleantech energy solutions in Canada. The collaboration combines the complementary capabilities of Kensington's financial expertise with the engineering and technological know-how of Siemens Canada.
"As an asset manager, Kensington is all about relationships and we view our relationship with Siemens as one which will help investment programs in energy infrastructure and cleantech." stated Tom Kennedy, Chairman of Kensington.
The MOU identifies numerous focus areas including energy storage, transmission and distribution, combined heat and power plants, power generation, smart grid, micro grid and biomass. Canada's national cleantech industry revenue is expected to grow to $26 billion by 2018i.
"Siemens and Kensington have a long-standing, trusted relationship and share a common goal to demonstrate innovation leadership in Canada," said Lucy Casacia, Vice President of Cities & Infrastructure Projects, Siemens Canada Limited. "Cross-company teams are being formed and we are already actively exploring how to accelerate the development of energy and clean tech solutions that will power Canada's next 150 years."
The collaboration also includes potential to jointly pursue infrastructure projects at municipal, provincial and federal levels facilitating cross jurisdictional opportunities and strengthening both firms penetration in the Canadian and North American markets.