Québec city, Canada May 27, 2021 – OPTEL, a leading global provider of supply chain traceability systems dedicated to using its innovative technologies to build a more sustainable world, has received a funding commitment of several million dollars from Sustainable Development Technology Canada (SDTC) to accelerate the deployment of two new traceability solutions.
SDTC helps Canadian entrepreneurs accelerate the development and deployment of globally competitive clean technology solutions. The funding commitment will allow OPTEL to deploy its CO2 traceability solution, which will help reduce greenhouse gas emissions from supply chains, and its asset-circularity solution, which will help optimize the life cycle of reusable assets such as packaging and minerals.
“This funding commitment is an indisputable vote of confidence in the innovation and efficacy of our technologies, which led to OPTEL being selected for this major funding initiative,” said Louis Roy, founder and president of OPTEL. This funding will allow us to deploy our technologies on a global scale.”
OPTEL’s traceability platform and technologies will help the supply chain to be more efficient, more transparent and more sustainable. In the scope of the project, OPTEL’s solutions will provide actionable, granular, real-time data to confirm product provenance, ensure quality, maximize production efficiencies, fight counterfeiting, reduce waste and provide the competitive advantage of reduced carbon emissions.
OPTEL is working with leading international companies and research groups in the consumer goods, agrochemical and mineral industries to implement and optimize its solutions before an official market launch within the next six months.
The project is expected to generate $50 million in cumulative revenue and generate more than 200 direct jobs over the next 10 years.
“Importantly, the support of the SDTC will allow us to save more than 10 million metric tonnes of carbon dioxide equivalents,” said Louis Roy. “This is a significant contribution to a healthier environment and a more sustainable world, which has always been the cornerstone of OPTEL’s mission.”
OPTEL is a leading global provider of traceability systems, and its mission is to use its innovative technologies to build a sustainable world through the Intelligent Supply Chain. OPTEL is the only company with the ability to offer complete end-to-end traceability, providing granular data at every step of the supply chain—from raw materials to the consumer and beyond. Founded in 1989, OPTEL is a Certified B Corporation headquartered in Canada, with facilities in Ireland, India and Brazil, as well as employees worldwide.
ABOUT SUSTAINABLE DEVELOPMENT TECHNOLOGY CANADA
Sustainable Development Technology Canada (SDTC) helps Canadian companies develop and deploy competitive, clean technology solutions, to help solve some of the world’s most pressing environmental challenges: climate change, clean air, clean water and clean soil. By taking a cross-Canada approach, from seed to scale, and in partnership with the best peers and experts, SDTC is the global benchmark for sustainable development innovation programming.