What’s in this Report
Message from econext’s Chair
Message from econext’s CEO
Innovation
Workforce
Net Zero
Member Supports
2024 Industry Awards
econext 2024 Conference
Giving Back
Meet the Team
Financial Statements
Message From Our Chair
Alex Templeton, Partner, McInnes Cooper
It has been a banner year for our organization.
Last month’s announcement that econext had secured $9 million in funding to accelerate home energy efficiency retrofits was the cap on what has been a very busy and impactful time for the association.
In each of our priority areas, we have made significant strides in 2024-25.
We have made tangible progress in advancing industry’s cleantech research, development, and innovation priorities – and attracting investment for their pursuit.
We have completed important research to inform the training, professional development, and post-secondary programming that we are leading or supporting. We have engaged hundreds of students across the province to excite them about careers in the green economy through various competitions, seminars, and other events.
We have worked at both the industry and community level to advance the pursuit of net zero in the province – with economic development and growth being at the heart of these strategies.
I hope that you take some time to read about all that we have achieved on your behalf in 2024-25 in this report.
All of this has been achieved while providing direct value to you - the association’s members. The econext team has never had more capacity or expertise to lend to businesses in the province, and our members have been the beneficiaries. And the projects that we develop and execute provide new business opportunities.
But challenges and barriers remain for Newfoundland and Labrador to meet its green economy potential. While our electricity grid is over 90% ‘clean’, it is under stress and we must be decisive about its future. While there are great opportunities in wind energy and the export of clean fuels, interventions are required to help demand and supply within this new industry meet halfway. Unlocking the full value of our low-carbon oil and gas and inventory of critical minerals needs regulatory certainty and governments willing to accelerate processes. Meanwhile, we must find ways to do better with our waste and wastewater.
All of this plays against the backdrop of reshaping global alliances and trading relationships, driven by an American government which seems to no longer consider Canada as a friend and ally. We are all being forced to rethink our international business strategies.
econext will continue to place a high priority in these areas and will have lots more to share on our ongoing work related to them in the months ahead.
As always, your Board of Directors and econext staff are available at any time to discuss your ideas, concerns, opportunities, and challenges at any time.
Finally, I’d like to thank the Government of Newfoundland and Labrador and the Government of Canada and their departments and agencies for their continued support for econext and its efforts to accelerate environmentally sustainable economic development. Without their partnership we recognize that we would not be in the position that we are to affect positive change.
Message From Our CEO
Kieran Hanley, CEO, econext
This will be the last time you see one of my letters open econext’s annual report. Last month I made the decision to step down as CEO to focus on special projects for the association. It has been an honour to serve as econext’s CEO over the past 8 years and change.
I’m not exaggerating when I say that this job has been the opportunity of a lifetime. In 2016, NEIA’s Board of Directors took a chance on me - believing (or hoping!) that I was ready to take on the reigns of the association. Unquestionably, that leap of faith changed the trajectory of my life and my career and I will forever be grateful for that. I hope that the risk that Alex and others took at that time has paid off.
I am so thankful to all of econext’s members for the support you have given me over these years; I have greatly valued the time I’ve spent with you learning about your companies and helping you in any way that I felt I could. In a job like this you get the chance to meet and partner with all sorts of individuals in the private, public, academic, and community sectors. These experiences have been enriching, to say the least, and I hope that my path continues to cross with many of yours down the road.
When the pandemic hit and ‘green economy’ concepts began to become mainstream in Canada, I had a vision for what role econext could play in helping the province realize the opportunities that come with decarbonization and net zero. We developed a new strategic plan, rebranded, and relocated. Our team grew - and with that has come a wave of new activity with more pronounced impacts on Newfoundland and Labrador’s economy and environment. I am proud of what the team has accomplished, and even more proud of the diverse, hardworking (but lighthearted) culture that have created for this organization together. Joanne, Colin (x2), Chelsea, Chelsie, Sara, Sepehr, Timilehin, Ogaga, Audrey, and Alex – I want thank you for all of your hard work and pushing the limits of what a not-for-profit can achieve. I would also like to thank Abbie, Matt, Heather, and Jenny who were each important contributors to this experiment along the way.
econext is looking for my replacement, and whoever that may be will have the opportunity to take the lead of an organization that is in great shape by any metric. If I have had any success with econext, it is because I had the benefit of being able to lean on the insights and guidance of mentors and experts who were gracious with their time. I will offer whatever lessons I have learned along the way to my successor. I look forward to seeing what someone with fresh ideas and new energy can do with the association to bring it to another level.
As for me, I’m sticking with the organization to focus on some special projects. This stems from my belief that Newfoundland and Labrador’s electricity systems and clean energy resources are central to the province’s long term economic growth prospects. In the days ahead I will be dedicating more time and effort in these areas in the hopes of making a positive contribution.
I will support the rest of the team when needed. But they probably won’t need much. Your association is in good hands. If you are reading this report, you already know that econext has an all-star team in place. This document summarizes all of their hard work this past year, and should leave no one with any doubt that the future of econext is safe and secure for many years to come.
Our Areas of Focus
Following comprehensive strategic planning exercises, econext has prioritized three areas of focus, and it is through these lenses which we are reporting on our activities in 2024-25.
INNOVATION
We work with partners in the private, public, and academic sectors to stimulate and support R&D and innovation that advances clean growth in Newfoundland and Labrador.
WORKFORCE
We coordinate with private, public, and academic partners to ensure Newfoundland and Labrador’s workforce is prepared to succeed in an ever-greening economy.
NET ZERO
We are a catalyst for climate change action within Newfoundland and Labrador, helping industry, businesses, and communities find a better balance between economy and environment.
Innovation
econext has an important role to play to help inspire, coordinate, attract investment for, and ultimately catalyze innovation in NL. Businesses which are more innovative are also more competitive, productive, and resilient. Private sector-led innovation in NL is among the lowest in Canada - a country which itself is lagging behind its international peers. econext’s mission is to increase research, development, and innovation in NL in key strategic areas to support green economic development in the province and support its pursuit of net zero.
Establishing Priorities
econext has established a series of research, development, and innovation priorities through both industry guidance and strategic analysis. Its ‘Clean Energy Innovation Industry Advisory Committee’ (IAC) is composed of leaders from the electricity and renewable energy sectors and has helped to identify areas of need and interest. Meanwhile, strategic research undertaken in key subject matter areas for NL’s green economy - such as waste management and ocean cleantech - have also helped to inform the association’s initiatives. Focus areas determined through these processes include: digital, remote, and autonomous operations; domestic clean fuels use; energy storage; biomass; and regulatory processes / business models. econext’s activities in 2024-25 pertaining to each of these areas are described below.
Digital, Remote, and Autonomous Operations
This focus was prioritized because of NL’s existing capabilities and expertise in these technology areas and the opportunity for application within the province’s emerging clean energy industry to increase productivity and reduce operational costs. To commence its work on this subject in 2024-25, econext published a discussion paper which explored potential digital, remote, and autonomous operations technologies within the context of the clean energy industry as it is expected to evolve in NL. This was followed by a workshop which socialized and ground-truthed these opportunities to inform future econext initiatives. Meanwhile, econext launched a ‘Clean Energy Infrastructure Optimization Challenge’ (see ‘Spotlight’ below) with the objective to attract interest to the sector in NL and the opportunities for technology adoption.
Domestic Clean Fuels Use
This focus was prioritized because of the likelihood of clean fuels production in NL (i.e., hydrogen and its derivatives such as ammonia and methanol, advanced biofuels, etc.) and the role that they could play in decarbonizing hard to abate sectors such as transportation, electricity generation, heavy industry, and more. For example, transportation is NL’s single largest source of GHG emissions at 43% - with various sources (i.e., freight and marine) presenting opportunities for clean fuels adoption. Moreover, local utilization of clean fuels produced would support the business case for the advancement of the province’s clean energy industry. To commence its work on this subject in 2024-25, econext published a discussion paper which helped to quantify domestic clean fuels adoption opportunities and begin an exploration of the associated opportunities and challenges. A series of workshops will be hosted throughout 2025 to advance NL’s understanding of the domestic clean fuels use potential, beginning with a ZEV Workshop which was held in January. Meanwhile, econext is actively exploring research and development projects to begin testing clean fuels in sectors which have been identified as having the most potential in the province from a decarbonization perspective.
Energy Storage
This focus was prioritized because of the potential that energy storage has in NL to support the electricity grid, support further decarbonization of the electricity grid, and enable economic growth in the province by making energy more readily available. Specifically, econext is interested in the potential for these outcomes through underground energy storage vis-a-vis salt domes - geological formations which have been characterized in NL as being the largest on the Eastern seaboard. To commence its work on this subject in 2024-25, econext began work on a discussion paper which is expected to be published in the near future. This will be followed by a stakeholder workshop to socialize the discussion paper’s findings and inform next steps.
Biomass
This focus was prioritized because of the challenges that NL has faced in diverting organic waste from its landfills and the opportunities that are emerging for biomass energy due to both increasing electricity demand in NL and possible alignment with future clean fuels production processes in the province. Over 30% of the province’s waste is organic, and when sent to landfill these materials produce GHGs in the form of methane which is 25-28X more potent than CO2. To commence its work on this subject in 2024-25, econext has worked on (and will soon publish) a discussion paper which helped to articulate the growing opportunities for biomass energy in NL and factors within the province which might inform future solutions. This will be followed by a stakeholder workshop to socialize the discussion paper’s findings and inform next steps. Furthermore, in March econext launched the ‘Project Zero’ circular economy incubator which will help innovators in NL advance their waste management and value-from-waste ideas through a 6-month program. One of econext’s Ideathons (see ‘Workforce’ below) was also focused on biomass energy opportunities in NL.
Regulatory / Business Model
This focus was prioritized because of the wave of electricity-related activity that is expected to come before decision-makers who will be faced with more complex and unique proposals in greater frequency. To commence its work on this subject in 2024-25, econext began work on a discussion paper which is expected to be published in the near future. This will be followed by stakeholder workshops to socialize the discussion paper’s findings and inform next steps. In addition, NL’s wealth of clean energy resources presents many development opportunities but opportunities that face challenging economics; new and innovative business models will be required to help NL meet its potential. To this end, in 2024-25 econext worked in partnership with a MUN MBA class to examine business model possibilities in four (4) distinct areas: direct air capture (DAC); carbon capture, utilization, and storage (CCUS); biomass energy; and domestic clean fuels adoption. econext is reviewing the results of this initiative to inform its next steps.
In addition to its priority focus areas, econext is advancing two initiatives which will help support and advance green economy innovation in NL.
NL Hydrogen Innovation Partnership
In 2024-25 econext helped to establish the Newfoundland and Labrador Hydrogen Innovation Partnership (HyIP) with Memorial University (MUN), its Marine Institute (MI), the College of the North Atlantic (CNA), the Qalipu Development Corporation (QDC), and the Miawpukek First Nation (MFN). The objective of the partnership is to attract attention and investment for research, development, and innovation in NL related to the nascent hydrogen industry. The first step for the HyIP was to quantify and communicate the R&D expertise, capabilities, and assets that NL has related to clean energy - a resource which is now hosted on the recently launched HyIP website. The HyIP worked together through 2024-25 to identify investment attraction priorities, with strategic next steps now in discussion.
Emissions Reduction Fund
To help attract investment for net zero planning and activities in NL, econext continued through 2024-25 to advance its private sector led Emissions Reduction Fund (NLERF). The fund was operationalized in 2024, becoming the first third-party fund in the country certified by Environment and Climate Change Canada to act as a compliance mechanism for primary fuel suppliers through the Clean Fuels Regulations. econext is now working towards establishing charitable status for the fund to incentivize corporate and philanthropic donations towards NL’s pursuit of net zero. It is hoped that the fund will be formally launched in 2025.
What’s Next?
Each of econext’s priority areas and initiatives are at different stages of their development. Each is intended to follow a general progression: (1) information gathering and analysis; (2) ground-truthing of findings with key stakeholders through workshops and seminars; (3) working towards pilot and demonstration projects to support local technology developers and/or for the benefit of local industry.
Discussion paper exploring opportunities for digital, remote, and autonomous operations in clean energy in Newfoundland and Labrador
Newfoundland and Labrador Hydrogen Innovation Partnership (HyIP) launched
Discussion paper exploring clean fuels adoption opportunities in Newfoundland and Labrador
SPOTLIGHT
Innovators Compete for $50K Prize, Empowering Clean Energy Solutions in Newfoundland & Labrador
For Immediate Release
February 4, 2025
St. John’s, NL — Foresight Canada and econext have launched the new Clean Energy Infrastructure Optimization Innovation Challenge, inviting Canadian innovators to present advanced technology solutions that reduce maintenance costs and improve operational performance of remote clean energy infrastructure in Newfoundland and Labrador (NL). This includes wind turbines, transmission lines, storage systems, and both small- and large-scale generation facilities.
NL is emerging as a strategic leader in clean energy development, including green hydrogen, with key advantages that position the province for global competitiveness:
A clean electricity grid powered by nearly 100% renewable energy
Significant energy storage potential to support long-term grid stability
Abundant natural resources and access to land and freshwater for further development
Established port infrastructure with proximity to major export markets and global shipping routes
A skilled workforce and deep supply chain expertise in large-scale energy projects
Advanced technologies and innovative solutions are key to unlocking this potential and maintaining the province’s leadership position. By focusing on operational efficiency and cost reduction, NL can maximize productivity and profitability while aligning with national net zero objectives.
More information on NL’s clean energy industry can be found here.
Innovators competing in this challenge have the opportunity to win up to CAD $50,000 in cash prizes and access tailored support to accelerate their proposed solutions. Winners will also gain valuable exposure to the energy industry and its stakeholders, providing a springboard for further development and commercialization.
Industry Leaders Supporting the Challenge
The Clean Energy Infrastructure Optimization Challenge is backed by key Industry partners including ABO Energy, EverWind Fuels, North Atlantic, Pattern Energy, World Energy GH2, Newfoundland Power, and Newfoundland and Labrador Hydro. Their support underscores the importance of addressing operational challenges while fostering sustainable growth and innovation.
Workforce
New clean energy, electricity, and critical minerals projects (among other things!) are expected to create intense demands for competition for labour in NL. Moreover, the greening of the economy is going to require new skills and a better awareness within the workforce on important concepts like productivity, energy efficiency, greenhouse gas emissions reductions, circular economy, net zero, and so on. From the development of training programs, to facilitating work integrated learning opportunities like internships, to working with public and private sector post-secondary institutions - econext has a role to play to help ensure businesses, their employees, and the workforce at large have the skills and talent necessary to meet the moment.
Evidence Based Approach
econext’s workforce development interventions are based on evidence and analysis. Through 2023-25, substantive research has been undertaken around skills/jobs gaps in emerging clean energy industry (wind/hydrogen, hydro refits, combustion turbines, etc.). Work is ongoing to understand what impact the NL-Quebec Churchill Falls MOU will have on labour force demands and requirements, while efforts will soon be underway to determine skills gaps that may exist in NL relating to energy efficiency retrofits that need to be addressed. Findings from this research and analysis informs the training and professional development programming that econext develops and implements itself, new business opportunities that it communicates to its members, and its engagement with post-secondary institutions.
Education and Awareness
One of the clearest findings from the research that econext has undertaken is a need to educate and create greater awareness in NL about what the green economy will look like and what job opportunities can be found within it. econext began this work in 2024 with a series of events aimed at post-secondary students and job seekers, including:
Career Connections – Renewable Energy - May 2, 2024
Clean Careers: Power-up Your Personal Brand - August 14, 2024
Clean Careers: Refurbish Your Resumé - September 10, 2024
Clean Careers: Accelerate Your Interview Skills - November 28, 2024
Green Horizons: Career Opportunities in NL’s Green Economy - March 25, 2025
This included the development of the Fundamentals of the Green Economy course, an online and on-demand offering that is meant to introduce job-seekers to key concepts and emerging opportunities in NL’s green economy. To date over 279 individuals have registered for these courses.
econext will continue its work to educate and create greater awareness about green economy job opportunities in 2025-26 through more events and initiatives. Key to these efforts will be the recently launched econav website - a new resource which provides information on NL’s economy, job prospects and current job openings, career pathways, training and learning resources, and more. The website has included the launch of the ‘Green Horizon's’ campaign which features videos of industry professionals sharing their experiences and insights about job opportunities in NL’s green economy (see right margin for example).
Training and Professional Development Programming
econext’s research and analysis underscored the importance of education and awareness not just for job-seekers, but also for existing businesses and professionals. To that end, the following training and professional development resources are currently being created:
Fundamentals of NL’s Emerging Hydrogen/Wind Industry
Fundamentals of NL’s Electricity Sector
Energy Storage Workshop
Regulatory Innovation workshop
Greening Business in NL 101
These courses will be in addition to econext’s existing training and professional development offerings, which include delivery in 2024-25 of the following:
Environmental and Regulatory Compliance
Contaminated Sites Health & Safety Training
ESG Strategies and Tactics
Climate Action and Resilience Training (CART)
Fundamentals of the Green Economy
Ideathons
econext‘s Ideathons provide an opportunity for students to gain real-world experience by tackling challenges and opportunities hand-picked by industry leaders that are present in NL’s green economy. In 2024-25 econext engaged over 100 students across the province through three (3) Ideathons - one in St. John’s, one in Corner Brook, and one virtually online for CNA students. This is in addition to partnership on the Ocean Startup Activator with the Ocean Startup Project. In these activities, students compete for prizes by presenting unique and innovative solutions while having the chance to meet with event sponsors who are potential future employers.
Internships
econext works to continuously connect its members with the myriad ‘green’-focused job subsidies that exist in Canada to support internships, co-operative placements, and more. Through its programming, econext also creates targeted and bespoke internship opportunities. For example, in 2024-25 econext facilitated 10 internship positions for new Canadians who were seeking job opportunities in NL’s green economy. These paid internships provided participants with exciting and informative experiences - with two (2) of the host companies ultimately offering full-time positions to their interns. This is in addition to three (3) full time positions that were a direct result of interactions stemming from econext conferences, events, and matchmaking services.
What’s Next?
Stay tuned to econext’s econav website for exciting updates on the organization’s workforce development initiatives. The organization will continue its efforts to create greater education and awareness of green economy job opportunities in the province, provide opportunities to help job seekers establish their careers, and deliver training and professional development programming.
econav website launched to create greater education and awareness of the opportunities for job seekers in Newfoundland and Labrador’s growing green economy.
SPOTLIGHT
econext hosts ‘Green Horizons’ event to introduce job seekers to Newfoundland and Labrador’s emerging green economy
For Immediate Release
March 26, 2025
Newfoundland and Labrador’s green economy is expanding, and with that comes new career opportunities.
Yesterday econext hosted an event called ‘Green Horizons’ designed for job-seekers looking to enter or transition into the green economy.
Over 90 attendees in person and online had the opportunity to network with employers and industry leaders, while:
Learning about career opportunities;
Gaining insights into training programs and certification pathways;
Hearing from industry experts; and
Participating in interactive and networking activities.
The event agenda was created with a specific interest in helping new Canadians in their career development and job searches, featuring ‘success stories’ and tips from those who have been able to establish their careers in NL.
‘Green Horizons’ is part of a series of events econext has been delivering to help create greater education and awareness of job opportunities in the province’s green economy.
Net Zero
Striking the appropriate balance between economy and environment can de-risk growth and foster economic development for communities, businesses, and industries at-large. econext is uniquely positioned to help decision-makers and stakeholders understand what ‘net zero’ means in these contexts in NL, define the associated challenges and opportunities, and facilitate strategic planning in response. econext has a team which leads a variety of different projects and initiatives in this space.
Net Zero in Our Communities
econext has a history of working with municipalities in NL in the development of net zero by 2050 plans. In 2024-25 econext began working with five (5) municipalities across the province in the delivery of QUEST Canada’s ‘Net Zero Communities Accelerator’ (NCA) program. The NCA program leverages proven tools and services, equipping participating communities with the net-zero knowledge needed to develop and continuously implement an energy and emissions plan (CEEP). The program provides a robust suite of resources and guidance, enabling communities to attain the economic, environmental, and social benefits associated with the implementation of their CEEP. econext facilitates the delivery of program and helps to ensure that analysis and decision-making incorporates NL-specific factors and aligns with existing economic development objectives within regions. Participating municipalities include:
Corner Brook
Marystown
Carbonear
Harbour Grace
Two more municipalities will join the program in 2025.
Through partnership with CLIMAtlantic, econext is also working with communities, governments, and industries in NL to help them understand the impacts of climate change, climate risk, and climate change adaptation planning.
In 2024-25, over eight (8) municipalities—including Labrador City, Torbay, Pasadena, Hare Bay, Centreville-Wareham-Trinity, New-Wes-Valley, Indian Bay, Gambo, and Ferryland—were supported in applying for funding programs. A discussion paper was released to help municipal and other decision-makers understand the connection between climate change and economic development. Targeted efforts took place to support sectors at different stages of readiness; tourism operators were engaged through both virtual and in-person sessions—delivered under the MOU between Hospitality Newfoundland and Labrador and CLIMAtlantic — to explore how they could adapt operations while maintaining economic sustainability. Tools and guidance were also shared with the utility sector to help them identify risks associated with climate change. econext supported NL Health Services in securing funding for and has subsequently provided assistance towards a province-wide climate vulnerability assessment from a public health perspective. Increased planning and investments to address the impacts of climate change creates new business opportunities for econext’s members.
Lastly, in partnership with the City of St. John’s, it was announced in March that econext would lead a 4-year $7 million project to support increased residential energy efficiency retrofits (see Spotlight below).
Net Zero in Businesses
In 2024-25 econext launched its ‘Greening Business in NL’ program which will help individual SMEs in the province understand their impacts on the environment and how addressing them can increase their productivity and competitiveness. The lynchpin of the project is a series of training online and on-demand modules (‘Greening Business in NL 101’) which will be released imminently and be made available to SMEs across the province. These modules will provide specific information on impacts and actions that businesses and can - specific to the NL context. Adjacent to this resource, econext began hosting a series of ‘Greening Business in NL’ workshops across the province - efforts which will continue throughout 2025.
econext will also be providing individual supports for 25 SMEs in NL. Participating SMEs will quantify the GHGs that they are responsible for, audit their energy efficiency, and assess their waste management. The results of these investigations will culminate in an analysis for each SME with recommendations on actions that could be taken that will help them to become more productive and/or competitive while simultaneously reducing their environmental impact.
Net Zero in Key Sectors
econext has concluded its partnership with Energy NL to define net zero pathway scenarios for the province’s offshore oil and gas industry. Regulatory and technology roadmaps have been developed relating to priority pathways areas including: carbon capture, utilization, and storage (CCUS); electrification via offshore wind; and carbon offsets. econext is looking forward to sharing the results of this work in 2025.
Waste management is responsible for 7% of NL’s GHG emissions. Much of this is caused by the decomposition of organic material in the province’s landfills. There are myriad economic and geographic factors which present challenges to addressing organic waste in NL; econext has embarked on a project which will run until the end of 2026 to explore opportunities for extracting more value from waste produced and diverting it from landfills - through supporting new business ideas, engaging with regional service boards, and engaging with businesses and sectors on a one-on-one basis to explore opportunities.
Transportation is the single biggest source of GHGs in NL at 43%, and is a hard to abate sector of the economy. econext’s work to assess domestic clean fuels use opportunities in NL (see ‘Innovation’ above) will directly inform the association’s future work to help NL address this source of emissions - with a focus on freight and marine transportation.
New clean fuels production (i.e., wind to hydrogen and derivatives) presents significant economic growth and development opportunities for NL, and also can play an important an important role in helping the province meet its net zero by 2050 commitments. To help educate and create awareness about this emerging industry, econext partnered with Energy NL through 2023-25 in the development of new tools and resources for the ‘Wind at Our Backs’ campaign. econext will be promoting these tools and resources across the province in the year ahead.
What’s Next?
econext will continue its ongoing efforts - and seek new opportunities - to work with communities, businesses, and economic sectors in NL to help the province reach its net zero by 2050 commitments - while strengthening its economy.
The Town of Stephenville is one of seven (7) municipalities econext is helping to explore economic development through the pursuit of net zero
A series of infographics were created to help communities, sectors, and businesses understand how the effects of climate change in NL will impact them.
SPOTLIGHT
econext spearheading $7 million project to transform how St. John’s residents access and implement home energy upgrades
For Immediate Release
March 21, 2025
(Via the Federation of Canadian Municipalities):
St. John’s, NL – Improving the energy efficiency of homes is a smart investment that helps homeowners lower home energy bills, reduce emissions, and create more comfortable living spaces.
Today, the Honourable Joanne Thompson, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and Deputy Mayor Sheilagh O’Leary of the City of St. John’s, on behalf of Rebecca Bligh, President of the Federation of Canadian Municipalities (FCM), announced a $7-million investment through the Green Municipal Fund’s (GMF) Community Efficiency Financing (CEF) initiative to support a new residential retrofit program in St. John’s.
Over the next four years, the program is expected to:
create 120 full-time jobs in energy efficiency, construction, and skilled trades
facilitate energy efficiency training for 300 contractors
reduce home energy consumption in St. John’s by 17,104 GJ per year
cut greenhouse gas emissions by 512 tonnes annually
In addition to helping homeowners save money and reduce emissions, the program was designed to be scalable so it can be expanded to other communities across the region that may not have the capacity to deliver their own retrofit programs.
econext will spearhead the project, providing free and personalized energy efficiency guidance services to help residents of St. John’s manage their retrofit projects. This service will help residents navigate energy audits, grants and financing options available from various programs. Econext will also facilitate industry training to support capacity building and offer targeted grants for deep retrofits. The City of St. John’s will manage the credit enhancement funding and enabling financial institutions to offer low-interest loans to residents. By helping residents navigate retrofits while reducing financial barriers, this program will help more homeowners take action to improve energy efficiency, lower utility bills, and reduce their environmental footprint
This initiative underscores a commitment to sustainable development and community support, ensuring that residents have the resources needed to improve their homes while contributing to a cleaner, greener future.
Member Supports
econext is a member-based organization and exists to provide benefits and services to those businesses and organizations that see value in their investment of membership. While the association’s efforts in its priority areas of innovation, workforce, and net zero benefit and create opportunities for its members, econext places a significant priority on the work that it does to help individual businesses more directly. Below is a summary of econext’s membership focused activities in 2024-25.
One-on-One Engagements
econext regularly works with its members on a one-on-one basis on a number of fronts to assist in addressing challenges or pursuing opportunities at the firm level. econext’s staff has grown considerably in the past two years, and as has its capacity and expertise; association members health a wealth of experience on a variety of different subjects that they now have the opportunity to draw upon. Adhering to best practices in business retention and expansion (BR&E), econext staff work to understand member challenges and opportunities. For example, through 2024-25 econext met with dozens of members to help them pursue applications for the Green Transition Fund, the Solid Waste Management Innovation Fund, and other program opportunities specific to their needs. econext staff are also busy helping individual members avail of job subsidies, access international market intelligence, find subject matter experts, and more.
Webinars
econext held nine (9) webinars in 2024-25 to share important information and resources with its members. Webinars included:
Clean fuels and economic development in Newfoundland and Labrador - April 12, 2024
ICTC Work-Integrated Learning Digital Wage Subsidy - May 9, 2024
Building an Intellectual Property Portfolio for CleanTech Companies - May 14, 2024
Supporting Economic Growth and Prosperity in Atlantic Canada through Work-Integrated Learning - June 17, 2024
Newfoundland and Labrador’s Greenhouse Gas Reduction Fund - June 18, 2024
Clean Growth Funding & Financing - September 5, 2024
econext Clean Energy Infrastructure Optimization Challenge - February 19, 2025
Newfoundland and Labrador’s Climate Change Challenge Fund - March 13, 2025
Project Zero econext Circular Economy Incubator - March 18, 2025
Training and Professional Development
econext hosted three (3) training courses, one (1) conference, four (4) workshops, one (1) roundtable discussion, two (2) information sessions, and three (3) networking events for its members in 2024-25. This included:
Workshop: NL Film and TV Industry Going Green - April 12, 2024
Networking – Summer Networking Event – July 18
Networking - Pre-Conference Social - October 29, 2024
Annual Conference - October 30, 2024
Event: Foresight Atlantic Canada Road Tour - November 1, 2024
Event: ReCover Initiative Launch - November 4, 2024
Training – Contaminated Sites Health & Safety (8 Hour) – November 15, 2024
Training - Environmental and Regulatory Compliance - November 22, 2024
Networking - Holiday Social - December 10, 2024
Workshop: Zero Emissions Vehicles (ZEV) Adoption in NL - January 30, 2025
Workshop: Greening Business in NL 101 Corner Brook - March 7, 2025
Workshop: Opportunities for Digital, Remote, and Autonomous Operations in Clean Energy - March 18, 2025
Roundtable - Energy Efficiency Retrofits Gaps, Barriers, and Challenges - March 25, 2025
Training - Climate Adaptation and Resilience Training (CART) - Cohort based (various delivery dates)
International Business Development
econext believes that international business is fundamental to the green economy’s success in NL. For SMEs providing clean technologies and environmental services, it is most often the case that the domestic market is not large enough to sustain growth. Meanwhile, in emerging technology areas it is likely that much of the required expertise and knowhow resides outside of the province. For these reasons, econext places great weight on the internationalization of its members’ operations.
econext continues its work to help its members export to Caribbean markets. There is a long history of trade between NL and the Caribbean region, dating back to the export of salt fish in exchange for rum, and today our firms are well positioned to provide solutions to familiar challenges being faced in the Caribbean. Since this program began in 2014, a recent review of the project impacts concluded that for every public dollar invested there was a minimum return of over $21. In 2024-25 econext helped another four (4) SMEs in Atlantic Canada access customized consulting advisory services to help them pursue opportunities in Caribbean markets.
In September of 2024, econext led a business development mission to the Wind Energy Hamburg conference and exhibition to help NL SMEs better understand the wind industry and develop relationships in a market (Germany) which will have importance for the province in the years ahead.
On behalf of its members, econext supported incoming business delegations in 2024-25 from Germany, Belgium, and Denmark.
Advocacy
One of econext’s most important functions is to represent its members’ interests from a policy and advocacy perspective. While individual interventions on a one-on-one basis with members occurs continuously, key policy engagements on behalf of the membership at-large in 2024-25 included:
Submission to the Government of NL for consideration in its development of a new climate change action plan
Submission to the Regional Assessment Committee for Offshore Wind Development in NL
Submission to the Government of Canada regarding the implementation of an oil and gas emissions cap
Continuous dialogue with provincial and federal governments on regulatory and support frameworks for electricity and clean energy projects
News releases on a variety of key subjects
In 2024-25, econext Board members and staff represented its membership at a variety of different events from Twillingate to Rotterdam including:
World Hydrogen Summit - May 13-15, 2024 (Rotterdam, Netherlands)
Boston Trade Mission - September 11-13, 2024 (Boston, USA)
WindEnergy Hamburg - September 24-27, 2024 (Hamburg, Germany)
Municipalities NL Conference - November 7-9, 2024 (Gander, NL)
Economic Developers Association of NL Conference - October 2-3, 2024 (Twillingate, NL)
Fueling the Future Fest 2025 with MUN Student Energy - March 29, 2025 (St. John’s, NL)
What’s Next?
econext is continuing to support its members’ growth through one-on-one engagements, and represent their collective interests at events, through policy, and in advocacy. As a member of the association, if you have a challenge or opportunity that you would like us to help you explore - please contact us.
News Release
Electricity demand is rising, and supply decisions must be thorough but swift, says econext
News Release
econext celebrates historic Churchill Falls agreement between Newfoundland and Labrador, Quebec
News Release
econext supports provincial government decision to undertake carbon offsets research
econext leads Newfoundland and Labrador business delegation to German wind energy conference
SPOTLIGHT
Developing a New Climate Change Action Plan: Recommendations for the Government of Newfoundland and Labrador
For Immediate Release
July 17, 2024
econext has released a series of recommendations for the Government of Newfoundland and Labrador to consider in the development of its new Climate Change Action Plan.
Embracing proactivity in the pursuit of net zero can ensure that decarbonization is not something that ‘happens to’ NL, but rather it is something NL is helping to design, lead, and benefit from.
There are many different activities that NL could take to fight climate change. econext has attempted to focus on a small number of direct actions that can be taken that will have the greatest positive impact. econext considered environmental and economic impacts, aspiring to arrive at recommendations that were likely to achieve significant results for both.
In developing these recommendations, econext engaged its membership, leveraged the different areas of expertise of its 13 full-time staff, and was guided by its Board of Directors.
econext arrived at 19 recommendations spread across 7 distinct themes:
Ensure long-term access to clean electricity;
Maximize domestic clean fuels opportunities;
Assist heavy industry in its decarbonization;
Support businesses to contribute to net zero;
Include buildings as part of the solution;
Establish strategic regional partnerships; and
Define the negative emissions opportunity.
Industry Awards
On April 16, 2025 econext - in partnership with TD - proudly recognized the achievements of local innovators and leaders in the clean technology and environmental services sectors.
Sean Morgan (Atlantic XL), Karen Veitch (Atlantic XL), Krystal Van Westerop (TD), and Colin Corbett (econext)
Business Excellence Award
econext‘s Business Excellence Award recognizes a significant initiative or achievement of a business engaged in Newfoundland and Labrador’s green economy. This could include the completion of specific projects, business growth milestones, or a contribution to the community from a sustainability or corporate social responsibility perspective. The award is judged according to the initiative or achievement’s impact as it relates to economic growth and development, positive environmental effects, and public awareness of green economy and environmental challenges or opportunities.
econext was proud to present the 2025 Business Excellence Award to Waterford Energy Services Inc.
WESI stood out in 2024 for its leadership in advancing offshore renewable energy. Key achievements include a feasibility study for ERI NL on floating offshore wind turbines, a port infrastructure study in the Strait of Canso, and a co-authored whitepaper on a 700 MW offshore wind project in Nova Scotia. Their expert contributions to regional and national offshore wind assessments highlight their role as a leader in the clean energy space.
Equally committed to local growth, WESI invests in talent development through partnerships with Memorial University, Dalhousie, and MITACS, supporting research in areas like ice accretion and battery energy storage. Their dedication to applied research, student learning opportunities, and international knowledge-sharing makes them a deserving recipient of the 2025 Business Excellence Award.
Cleantech Innovation Award
econext’s Cleantech Innovation Award recognizes innovation at any stage of development in business and academia – from research and development, to commercialization, to refinement – of products, services, or processes that can mitigate effects to, protect, or enhance the environment. The award is judged according to the uniqueness of the innovation, the potential for positive environmental impact, and the potential for commercial application.
The winner of this year’s Cleantech Innovation Award is Atlantic XL.
This award recognizes game-changing solutions that protect the environment and offer strong potential for commercial impact — and Atlantic XL’s work in additive manufacturing (AM) checks every box. Their 3D printing solutions reduce supply chain risk, cut lead times, and help businesses extend the life of critical equipment by producing parts on demand, minimizing downtime and waste.
What sets Atlantic XL apart is their commitment to sustainability. By localizing production, their AM technology reduces transportation emissions and material waste, while supporting the circular economy here in Newfoundland and Labrador. It’s a clear example of how innovation and impact can go hand in hand — and we’re proud to celebrate their leadership in cleantech.
Kristina Kearney (WESI), Nick House (WESI), and Krystal Van Westerop (TD)
Chelsea Linfield (econext), Stephen Hale (Rutter), Matt Rumboldt (Rutter), Paul Dwyer (Rutter), and Krystal Van Westerop (TD)
Industry Champion Award
econext’s prestigious Industry Champion Award recognizes the contribution of an individual to the growth of Newfoundland and Labrador’s clean technology and environmental services sector.
Ashley Noseworthy, Founder and CEO of Edgewise Environmental, is the recipient of econext’s 2025 Industry Champion Award!
A recognized leader in marine environmental monitoring, Ashley has been instrumental in modernizing the ocean technology sector in Newfoundland and Labrador. Through her work as CEO and Founder of Edgewise Environmental, she’s helped grow the province’s global reputation in sustainability-focused innovation, while leading a multidisciplinary team. Her contributions include launching Canada’s first formal training programs for MMOs, SBOs, and PAM operators — and expanding access to critical offshore skills and expertise.
Ashley’s commitment to industry transformation, inclusivity, and long-term impact sets her apart. She continues to shape best practices, strengthen regulatory frameworks, and push for more opportunities for women in offshore and marine industries. Her leadership is helping define the future of environmental services in this province and beyond.
International Business Award
econext‘s International Business Award recognizes a significant initiative or achievement of a Newfoundland and Labrador organization engaged in international business activities relating to cleantech or environmental services. Initiatives or achievements could include export success, diversification into new sectors or markets, collaborative research and development, or the establishment of international partners. The award is judged according to the relative impact of the internationalization activity for the individual business and/or the industry at-large.
The winner of this year’s International Business Award is Rutter Inc.
A long-time leader in radar image processing, Rutter continues to set the standard for maritime innovation from right here in Newfoundland and Labrador. Their newest platform, Rutter Unify, connects radar systems across vessels, platforms, and control centers — and is already being used in Brazil by energy sector operators and ocean conservation organizations to monitor oil spill detection systems in real time. With over 2,000 systems shipped worldwide and more than 25 years of export success, Rutter’s global impact is clear.
Through cutting-edge technology, international partnerships, and a commitment to safety and environmental monitoring, Rutter is proudly representing NL on the world stage. We’re thrilled to recognize their achievements with this year’s International Business Award.
Colin Heffernan (econext) and Ashley Noseworthy (EDGEWISE Environmental)
On October 30, 2024, econext hosted its annual conference at the Delta Hotel in St. John’s, Newfoundland & Labrador. This sold-out event drew almost 300 participants, who gathered to discuss the province’s emerging green economy opportunities and the innovative technologies that could drive future growth.
“Newfoundland & Labrador is on the leading edge of clean growth on a global scale,” said Kieran Hanley, econext’s CEO. “Our conference provided the chance for businesses, governments, communities, and academia to learn more about a number of these quickly evolving opportunities.”
Throughout the day, attendees engaged in a series of panel discussions ranging from: the Canadian perspective on the emerging hydrogen energy; advancements in energy storage, biomass, and grid technologies; lessons in social license and stakeholder engagement for clean energy projects; and advancing cleantech innovation.
“We were excited this year to welcome speakers representing organizations from all across the continent,” said Hanley. “Being on an island, it is important to get that outsider’s perspective on where our province stands in the bigger picture.” Hanley said that those who travelled for the conference will also now be able to spread the word within their known national and international networks about the exciting things happening in NL.
One of the conference’s key announcements was the launch of the Clean Energy Innovation Challenge, a collaboration between econext and Foresight Canada.
The challenge invites innovators from across the country to propose solutions for reducing the monitoring and maintenance costs associated with clean energy infrastructure through the use of clean technology. With a $50,000 prize pool and additional support available to winning teams, the challenge aims to accelerate the development of cost-effective, sustainable solutions. To read more about the challenge, click here.
The 2024 econext conference was carbon neutral via offsets purchased from Sharp Management.
“econext would like to express its thanks to all of our partners, panelists, moderators and attendees for helping to support and contribute to this event. We look forward to welcoming you all again in 2025.”
Giving Back
econext staff contributed as volunteers in 2024-25 on a number of committees and boards that align with the association’s environmental and green economy values:
Newfoundland and Labrador Net Zero Advisory Council (Chair)
City of St. John’s Environment and Sustainability Experts Panel (Member)
CLIMAtlantic NL Working Group (Facilitator, Member)
External Advisory Committee - City of St. John’s Building Codes Accelerator
Economic Developers Association of Newfoundland and Labrador (President)
Downtown St. John’s (Board Member)
Atlantic Trade and Investment Growth Strategy, Energy Innovation Committee
Offshore Energy Digitalization Forum
Women in Resource Development (Board Member)
econext regularly shares information to help its substantial social media following become more environmentally sustainable in their day to day.
econext staff as a group also led and participated in a number of initiatives on behalf of the association:
Bought carbon offsets to ensure that both the 2024 Annual Conference and AGM events were carbon neutral (offsets via Sharp Management)
Facilitated the diversion of 750kg of end-of-life electronics from landfills (see Spotlight below)
Raised $1,883 for the Community Food Sharing Association
Volunteer Judge: Mount Pearl Focus on Youth STEM Awards, Foresight Canada Cleantech Awards, Social Impact-a-Thon
Volunteer Mentoring: Women in Science and Engineering NL (WISE-NL), National Connector Program for Newcomers
Partnered with MUN MBA class on a series of business model consulting projects (see ‘Innovation’ above)
Contributed to a number of student research projects at Memorial University and its Grenfell Campus
Partnership with the ReCover Initiative to explore opportunities to support commercial energy efficiency deep retrofits
SPOTLIGHT
econext diverts 750 kg of end-of-life electronics at recycling event
For Immediate Release
September 4, 2024
In an effort to reduce waste, econext hosted an Electronics Recycling Day event in partnership with the Electronic Products Recycling Association (EPRA) and Computers for Schools (CFS) on August 29, 2024. The event, which saw active participation from econext members and the local community, culminated in the collection and proper disposal of 750 kilograms of end-of-life electronics. econext is thankful for the support of EPRA, Sobeys, Scotia Recycling and Computers in Schools in helping this event succeed.
This initiative underscores econext‘s commitment to environmental sustainability by tackling the growing issue of end-of-life electronics, which poses significant environmental hazards when not disposed of correctly. econext‘s members, who enthusiastically supported the event, brought in a wide array of obsolete electronics, from outdated monitors to old mobile devices, ensuring that these items did not end up in landfills.
A Community Effort
“The goal of this event for econext is to divert end-of-life electronics from our landfills here in the province,” said Colin Heffernan, manager of Industry and Community Engagement at econext. “There is a wide range of electronics – Laptops, computers, TV’s, monitors, cords, and more – that can be collected, processed, and deconstructed so that useful components can be reused, or repurposed.”
The event highlighted the importance of responsible waste management, providing a convenient opportunity for individuals to dispose of their unwanted electronics. By properly recycling these materials, harmful substances are kept out of the environment, and valuable materials such as copper and gold can be reclaimed and reused.
As part of the partnership, and in recognition of econext‘s efforts in putting off this event, EPRA has committed to making a donation of $1000 to the Single Parents Association of NL on behalf of econext, Sobeys, and Computers for Schools.
Meet the Team
Our best photo from 2025 at our Annual General Meeting - unfortunately with a few staff away on business!
Board of Directors
Alex Templeton
Chair
McInnes Cooper
Heather Murphy
Vice-Chair
SEM Ltd.
Don Drew
Treasurer
Newco Metal & Auto Recycling
Laurie Coady
Director
North Atlantic
Kris Costello
Director
Oil and Gas Corporation of Newfoundland and Labrador
Jennifer Crane
Director
Corner Brook Port Corporation
Shem Evans
Director
Hatch
Krista Langthorne
Director
Newfoundland Power
David Pinsent
Director
World Energy GH2
econext Staff
Kieran Hanley
Chief Executive Officer
Colin Corbett
Director, Clean Energy Innovation
Ogaga Johnson
Director, Workforce Development
Joanne Strugnell
Director, Operations and Accounting
Colin Heffernan
Manager, Industry and Community Engagement
Sepehr Khosravi
Manager, Climate Services
Audrey Parnell
Manager, Circular Economy
Chelsea Linfield
Manager, Project Finance
Chelsie Cake
Lead, Marketing and Communications
Sara Jafari
Lead, Community Sustainability
Timilehin Oguntuyaki
Lead, Green Career Development and Training
Alex Rumbolt
Lead, Business Sustainability
Financial Statements
ACKNOWLEDGEMENT
econext would like to recognize the ongoing support provided to it by its membership, the Atlantic Canada Opportunities Agency (ACOA), and the Government of Newfoundland and Labrador. Without this support, our accomplishments through 2024-25 and our work to accelerate clean growth in Newfoundland and Labrador would not be possible.