FOREWORD
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 2023-24 and our work to accelerate clean growth in Newfoundland and Labrador would not be possible.
What’s in this Report
Message from econext’s Chair
Message from econext’s CEO
Net Zero
Innovation
Workforce
Member Supports
Industry Awards
econext 2023 Conference
Giving Back
Meet the Team
Financial Statements
Message From Our Chair
Alex Templeton, Partner, McInnes Cooper
The bright future of the green economy in Newfoundland and Labrador continues to intensify, and this past year has seen significant advancements for our province.
With many of the necessary enabling policies and processes now in place, a handful of major renewable energy projects are progressing. While hurdles remain, it’s important to be mindful of the steps forward that have been achieved in just one year. The first of these projects has cleared environmental assessment, with others expected to register in the months ahead. International agreements have been reached between governments, ports, and prospective importers and exporters to facilitate the trade of clean energy between our province and Europe.
In clean fuels, Newfoundland and Labrador is truly on the frontier of an emerging global industry. We must understand the scale of the opportunities that this will present us and be quick to capitalize them. What’s exciting about these projects is that they’re dispersed across our entire province, presenting an opportunity for rural and regional economic development.
But to make the most of these opportunities, there are challenges that we’re going to have to overcome. One of our biggest challenges is with respect to our own electricity grid. While we’re in the enviable position of having a grid that’s derived from over 90% renewable resources, the reality is that we’re running out of existing supply. Within a decade electricity demand is expected to exceed the current supply integrated in our grid; this doesn’t leave much time to progress through regulatory processes, supply chain procurement, and construction. Simply put, it’ll be difficult to attract investment into Newfoundland and Labrador if we don’t have any electricity to offer. As a province we must be prepared to take action in the very near term to ensure that this scenario doesn’t occur.
Meanwhile we have lingering environmental concerns that we need to address domestically in wastewater management and organic waste diversion. While promoting Newfoundland and Labrador internationally as being on the leading edge of clean energy development, it’s important for us to walk the talk and demonstrate best practices here at home.
We know that econext members are up to the task, and we’re excited to support them. This year we’ll be launching a program to help businesses throughout the province define their greenhouse gas emissions, partake in energy efficiency assessments, and audit their waste – all to help them develop plans to become more competitive and productive through environmental sustainability initiatives.
econext will also be launching an Emissions Reduction Fund with the intent to help finance research initiatives in the province that will help Newfoundland and Labrador reach net zero by the year 2050. These are just two exciting initiatives that we have in store for the next year – stay tuned!
2023-24 was a year of growth for econext. Our membership grew, and our staff complement grew. This organization is capable of doing much to drive and support the acceleration of clean growth in Newfoundland and Labrador – and we appreciate the support of each and every one of our members as we take concrete steps forward.
As always, your Board of Directors and econext staff are available 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 support environmentally sustainable economic development. Without the support that our governments have provided we wouldn’t have been able to achieve all that we have in 2023-24.
Message From Our CEO
Kieran Hanley, CEO, econext
There has never been more of an imperative to balance economic growth and environmental sustainability, making econext's work all that much more meaningful.
We are in a ‘moment in time’, and econext is doing its best to seize the opportunities that are being provided. This year our staff complement grew from 5 to 12 with new faces and fresh ideas working on special projects and priorities. We have created a very dynamic and capable team and I am very grateful for the opportunity to work with such an intelligent and passionate bunch.
The team has found its footing and is now working with a laser-like focus to accelerate clean growth in Newfoundland and Labrador.
A rigorous sector strategic planning exercise a couple of years ago led us to focus on supporting our industries and communities in fighting and adapting to climate change, the advancement of our clean energy sector, driving circular economy and value-from-waste initiatives, and supporting our ocean cleantech cluster. While the degree of focus in each of these areas may change from year to year depending on what is needed, these priorities have remained highly relevant.
What does econext do in each of these areas to grow the province’s green economy? We will always aim to support our members with whatever they need on a one-on-one basis, but it has become clear that our association can play a leading (and helpful) role in three areas.
First, communities, businesses, and industries in NL need help to envision what success for them looks like in a world that is pushing to achieve net zero. How can they become more productive and competitive in this context? econext is well positioned to assist.
Second, strategic research, development, and innovation is required to help NL seize the industrial opportunities in front it, address environmental challenges that remain, and ensure that it benefits to the greatest extent as an international hub for the energy transition. econext has the intel and partnerships to help coordinate.
Third, a focus on our labour force is a requirement for success. The energy transition and new clean energy projects bring with them a demand for new skills and new jobs. To succeed, we will need the right education, training, and workforce attraction programs in place. econext can help.
Meeting the challenges and opportunities that these focus areas present was the driver behind the growth of our team. Each of our staff are dedicated to either supporting our members one-on-one or leading projects and initiatives that are in support of the province’s pursuit of net zero, innovation, and/or workforce development. I would like to thank each of these great individuals for their hard work and embracing the belief that econext can make a difference.
I hope that you are able to take the time to read through this annual report. It is oftentimes difficult to summarize all that occurs within or as a result of an organization like ours throughout a full year – particularly when your team almost triples!
Thank you to the econext members and its Board of Directors for your support and confidence.
In 2024-25 we aim to be a little louder about the impacts that we are having for Newfoundland and Labrador on your behalf.
Net Zero
Industries and communities in NL are under ever-increasing pressure to address how they are contributing and adapting to climate change. econext has an important role to play in helping stakeholders understand the challenges and opportunities on their journey to net zero and to be a catalyst for progress. econext achieves this through facilitating research that helps drive strategy, attracting investment for action, and advocating for enabling policies and conditions. All of the above helps NL strike an appropriate balance between economy and environment, educate and build awareness with key stakeholders, and create new business opportunities for its members.
The Net Zero Project
econext continues its partnership with Energy NL to develop net zero pathways for the province’s offshore oil and gas industry. Regulatory and technology roadmaps are being developed relating to priority pathways areas including: carbon capture, utilization, and storage (CCUS); electrification via offshore wind; and carbon offsets. Economic models are being developed and accompany these roadmaps. econext looks forward to sharing the results of its work in 2024.
Clean Fuels
Clean fuels such as renewable diesel and green hydrogen are going to be important contributors to NL’s future economy. econext has played a valuable role in helping to inform the enabling conditions and supports that are required to stand up this new industry. However, econext is also looking beyond the construction, production, and export activities associated with this industry to explore how the province and communities can maximize the long-term benefits. In May 2023 econext published a discussion paper titled ‘Clean Fuels and Economic Development in Newfoundland and Labrador’. In addition, through 2023-24 econext has worked on and supported a series of education and initiatives including websites, webinars, workshops, and more throughout the province to build greater awareness and capacity within the province on the subject matter.
Green Regional Economic Development
Related to the above, as many of the clean energy related opportunities emerging in NL are occurring off of the Avalon Peninsula, there is a generational opportunity for economic development on a regional basis. This is reinforced by other ‘green’ opportunities that econext is tracking from critical minerals to organic waste diversion. econext has begun to build partnerships in various regions of the province with the objective to help and support localized economic development activities through the lens of green and clean.
Climate Change Adaptation
econext hosted 6 regional workshops in partnership with CLIMAtlantic and The Harris Centre throughout NL focusing on the expected impacts of climate change and what can be done about it. These workshops took place April 27 in Grand Falls-Windsor, June 11 in Port Rexton, June 12 in Bonavista, November 8 in Port Aux Basques, November 8 in Codroy Valley, and November 9 in Pasadena. Findings from these workshops has helped feed into the regional economic development initiative above, supplemented by research outlining which impacts of climate change are most vital to consider when engaging in economic development activities. As host to NL’s CLIMAtlantic climate services specialist, adaptation supports were provided by econext to municipalities, specific sectors (such as tourism and electricity), NGOs, and others.
Policy
econext engaged continuously with federal, provincial, and municipal governments on policy items in areas of priority relating to the green economy in NL. This included inputs into: the provincial government’s new climate change action plan; the NL offshore wind regional assessment committee; wind/hydrogen frameworks and regulatory processes; waste management; and environmental assessment.
What’s Next?
econext will be delivering projects in 2024 relating to energy efficiency retrofits, municipal net zero by 2050 planning, green regional economic development, domestic clean fuels use opportunities, and more. Stay tuned!
econext ‘green’ regional economic development assets mapping exercise (draft)
Innovation
econext Ideathon at Grenfell Campus in Corner Brook
We know that businesses which are more innovative are also more competitive, productive, and resilient. We also know that Canada ranks poorly against its peers when it comes to investment in research and development, with NL being on the lower end of the spectrum in the country. To seize the clean energy opportunities before us – and to solve some of the acute environmental issues that we are still facing – innovative technologies, services, and business models are going to be required.
NL has excellent resources, assets, and expertise that it can draw upon to solve the challenges before it. Investment into R&D is one way NL can ensure that the benefits accrued from industrial activity within the province is ‘sticky’ – or has lasting impact. The technology, knowhow, and solutions developed in NL are exportable commodities that can exist long after development.
econext has an important role to play to help inspire, coordinate, attract investment for, and ultimately catalyze innovation in priority areas for NL.
Establishing Priorities
Individual businesses already investing in R&D will innovative as they see fit, but as a small province we cannot be an expert in all things, it is important to prioritize where new innovation will be pursued. This can be done based on existing strengths, demonstrated needs, and/or possible impacts. In 2023-24 econext created the Clean Energy Innovation Industry Advisory Committee (IAC) composed of leaders from the electricity and renewable energy sectors. The IAC is helping econext to narrow in on a select few subject matter areas where there is a particular expressed need or opportunity. In addition, econext worked in partnership throughout 2023-24 with The Harris Centre to understand and quantify sources of organic waste in NL to help inform future efforts to drive innovation in waste management in the province. econext will build awareness in the identified areas through discussion papers, such as its publication of ‘Exploring Opportunities to Address Future EV Battery Waste in Newfoundland & Labrador’ in 2023. econext is also helping stakeholders explore opportunities in collaboration through facilitated workshops; in early 2024 econext hosted an event with the Sheep Producers of NL to explore novel approaches to extracting value from organic waste streams.
Building Capacity: Working with Students
In September 2023 econext hosted its first ‘ideathon’ at the Memorial University campus in St. John’s. Over the course of a weekend, 12 teams made up of undergraduate students across several disciplines developed their ideas and pitched their solutions to a panel of judges for the top prize of $3,000. In February 2024 econext hosted an ideathon at Grenfell Campus in Corner Brook with participation from both university and College of the North Atlantic students. Both ideathons presented students with prompts derived from established priorities (as referenced above) with the intent to build awareness of key provincial challenges and opportunities. econext engaged over 100 students in 2023-24 through these events and support of an additional event hosted by Hack Frost.
Engaging with Research Institutions
Significant expertise resides within NL’s research institutions which can contribute greatly to innovation in the province. econext makes a concerted effort to match this expertise with private sector interests wherever possible in collaborative projects. In July 2023 econext hosted a research connector event in partnership with Memorial University’s Research and Innovation Office focusing on batteries and energy storage. econext continues to support participants in this event to advance ideas and projects explored. econext has worked diligently through 2023-24 to compile a thorough outline of R&D capacity and expertise that exists in NL relating to clean energy and will publish its results in an online and interactive format early in 2024. In February of 2024 econext jointly held a workshop with Grenfell Campus and CNA’s Workforce Innovation Centre to explore clean fuels research opportunities in NL and understand where matches could be made with research capacity and interests.
Emissions Reduction Fund
To help attract investment for net zero planning and activities in NL, econext worked through 2023-24 to create a private sector led Emissions Reduction Fund. This fund is expected to be operational in 2024 and will support strategic research and small-scale projects that create new opportunities for econext members while improving environmental outcomes and growing NL’s green economy.
What’s Next?
econext will finalize green economy areas which it will prioritize for support, and continue to support innovation vis-à-vis engagement with students, collaboration with research institutions, the attraction of investment, and working one-on-one with members (see below).
Workforce
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. Moreover, the advancement of large clean energy projects in NL, the continued evolution of our electricity grid, and the prospect of new mining activity is expected to create intense demands and competition for labour in a province with aging demographics. Developing and implementing strategies to mitigate these expected challenges will help econext members and contribute to the success of the energy transition in NL. econext is working in a number of capacities to help.
Clean Energy Workforce
In partnership with the CNA, MUN, and Trades NL, econext is leading a project to identify skills gaps and job requirements associated with the emerging clean energy industry in the province. This work – guided by a steering committee which includes broad representation from various levels of government, Indigenous groups, academic institutions, and more – is directly informing workforce attraction and retention strategies and subsequent development and delivery of education, training, and professional development programs.
Blue/Green Workforce
One of NL’s core strengths relates to the development and provision of technologies and services that are helping to inform and mitigate our impacts on the ocean environment. In 2023-24 econext led an initiative called ‘Tides of Opportunity’ which saw the hosting of a series of 10 demonstration and deployment exercises at The Launch in Holyrood. These events were designed to inform job seekers about the types of companies – and jobs found within those companies – that existed within this cluster of excellence in NL and attracted 107 individuals interested or curious about these careers with 80% from underrepresented groups. These events were supplemented by a large communications campaign - which had 1M+ impressions and reached 460K+ users with 160K+ views within 6 weeks of being launched - and the development of a community workforce development plan for the Town of Holyrood.
Post-Secondary Program Development
Based on information acquired through the above initiatives, econext is working directly with public and private post-secondary institutions in the development of programming. For example, based on the results of a needs assessment undertaken with the participation of 10 local firms, econext helped attract investment for the development of 5 micro-learning courses by the Marine Institute. Simultaneously, econext is working closely with its partners to help inform, design, and support programming relating to clean energy.
Work Integrated Learning
econext is actively supporting students and job seekers build their interest and experience in NL’s green economy. econext has developed a clean energy work placement program which matches undergraduate students with econext members, and also facilitated 7 internships in 2023-24 for New Canadians within leading edge technology developers and service providers. Some of these work placements have already resulted in full time jobs being offered to interns.
What’s Next?
With much knowledge gained in 2023-24 relating to the workforce development needs facing NL, in 2024-25 econext will be highly active working with its partners in the creation and delivery of new training programs and the execution of an attraction and retention strategies for the sector.
Employer booths at econext Ideathon in St. John’s
Member Supports
econext worked with 10 of its members to demonstrate and deploy their clean technologies and environmental services at The Launch in Holyrood.
At its core, 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 all of its efforts around net zero, innovation, and workforce will benefit members in the medium term and the sector at-large, econext places a significant priority on the work that it does to help individual businesses in the here and now. This is why in 2023-24 econext made a deliberate choice to hire a new Manager of Industry and Community Engagement to maximize its connection with its members.
econext grew by 26 new members in 2023-24 and was pleased to have offered the following services.
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. This takes form in helping firms to identify funding opportunities and in assisting them in positioning their ideas and applications strategically. For example, econext issued a survey in February to its members and through its network to build a pipeline of businesses that it could engage on specific waste management issues with. econext staff are also busy helping individual members avail of job subsidies, access international market intelligence, find subject matter experts, and more. For example, in 2023-24 econext worked with 10 startups to help support them in their business development from the environmental lens. econext also engages in policy and advocacy efforts, working on their members’ behalf to address barriers and assist all parties in overcoming them.
Webinars
econext held 9 webinars in 2023-24 to share important information and resources with its members. Many of these webinars are available for viewing Online and On-Demand on econext’s website. Webinars included:
Introduction to ESG Strategies and Tactics – July 19
Environmental Emergencies – November 30
NL Green Transition Fund – July 12
CNA's Technology Access Centre – August 31
Introduction to Federal Procurement – November 2
DEI Training Part 1 Unconscious Bias – November 21
NL Green Technology Tax Credit – January 11
DEI Training Part 2 Micro-aggressions – February 1
DEI Training Part 3 Allyship – March 6
Training and Professional Development
econext hosted 3 training courses, 1 conference, 1 information session, and 3 networking events in 2023-24. These training and professional development events included:
Training – Contaminated Sites Health & Safety (8 Hour) – November 17
Training – Contaminated Sites Health & Safety (40 Hour) – November 20-24
Training – ESG Strategies and Tactics for SMEs – February 29
Networking – Summer Networking Event – July 13
Networking – Conference Networking Event – October 25
Annual Conference – October 26
Networking – Holiday Networking Event – December 5
Information Session – NL Green Transition Fund (Corner Brook) – March 1
Through 2023-24 econext began work to develop a training and professional development strategy for the association to meet the needs of its members.
International Business Development
econext believes that international business is fundamental to the green economy’s success in Newfoundland and Labrador. 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 Newfoundland and Labrador 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. In May 2023 econext led a trade mission which consisted of 11 delegate organizations from Atlantic Canada engaging in over 150 meetings across four countries in the Caribbean region – Barbados, Saint Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago. During this mission, econext signed a Memorandum of Understanding with the Organization of Eastern Caribbean States (OECS) to advance collaboration between Atlantic Canada and the 11 countries in the OECS. econext then hosted officials from the region at a Caribbean Business Opportunities Seminar held on January 22. econext is currently reviewing the results of its 10 years of programming in Caribbean markets – insights which will inform future efforts.
In 2023-24 econext also helped its members explore opportunities in Europe. econext hosted 6 webinars to improve market intelligence on emerging innovation related to environmental sensing, monitoring, and characterization in specific markets. These webinars featured focuses on Norway (March 6), Spain (May 11), Germany (On-Demand), UK (On-Demand), Ireland (On-Demand), and Iceland (January 16). These webinars are available for viewing Online and On-Demand on econext’s website. In addition, econext helped 5 SMEs access consulting supports to explore and/or advance European-focused international business development activities. econext hosted luncheon in partnership with Energy NL on October 19 with a business delegation from Germany, and is in the process of developing international programming specifically dedicated to facilitating collaboration and co-innovation between NL and German firms.
Green Jobs
Responding to member concerns regarding talent and workforce, econext launched NL’s Green Jobs Bank on February 7. econext also is keeping members apprised of the myriad green job subsidies that are available to SMEs to offset the cost of hiring students, youth, and under-represented groups for roles within cleantech and environmental services businesses.
What’s Next?
econext is excited to launch a program in 2024 that will help SMEs across NL quantify the environmental impacts of their business activities and develop plans to address them that will help them become more competitive and more productive.
Our team is always open to discussing with members how it can serve them better – and looks forward to hearing your ideas and suggestions.
Industry Awards
Being Presented on April 26, 2024.
econext 2023 conference
econext's annual conference took place on October 26, 2023 which explored the vast opportunities that renewable energy, clean fuels, net zero, finding value from waste, and critical minerals are presenting Newfoundland and Labrador.
Welcome Address
Session 1: Clean Energy – What’s Next
2023 has been a banner year for the growth of Newfoundland and Labrador’s clean energy industry, and the momentum is continuing to build. With decisions made on which proposed wind-to-hydrogen projects will have the opportunity to advance in the province, this session focuses on highlighting the next steps for industry, academia, and governments as they continue to advance and support clean energy growth.
Session 2: Achieving Net Zero by 2050
Newfoundland and Labrador has made a commitment to achieving net zero greenhouse gas emissions by the year 2050. As efforts are ramping up to decarbonize the economy and better understand our environmental impacts, we are starting to get a clearer idea about what the pursuit of net zero will mean for our province. This session will focus on some of the biggest challenges we must face and opportunities we should embrace.
Session 3: Continuing Environmental Challenges
While major ‘green’ industrial opportunities are crystallizing, Newfoundland and Labrador continues to face a number of challenges domestically that need to be addressed. From wastewater, to waste management, to climate change adaptation – we have much work to do. This session will explore and define these challenges – while highlighting interesting and innovative approaches to addressing them.
Session 4: Leading Green Economy Innovation
Newfoundland and Labrador has the opportunity before it to position itself as a leader in clean growth research, development, and innovation. This session will identify a series of green economy topics of particular relevance and importance to the province, explore why their pursuit from an R&D perspective is important, and discuss how they can best be approached.
Rapid Fire Presentations
Throughout the conference, attendees heard from innovators, entrepreneurs, and startups on their ideas that can help solve environmental challenges and grow Newfoundland and Labrador’s green economy.
The rapid fire presentations featured participation from the winners of econext’s inaugural ideathon.
Giving Back
econext staff contributed as volunteers in 2023-24 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 (Chair)
Economic Developers Association of Newfoundland and Labrador (President)
Downtown St. John’s (Board Member)
Atlantic Trade and Investment Growth Strategy, Energy Innovation Committee
Unlocking Canada's Green Potential: Drawing, Developing and Diversifying Talent to Accelerate Clean Economic Growth Project Committee
Offshore Energy Digitalization Forum
St. John’s Status of Women Council (Vice Chair)
Women in Resource Development (Board Member)
External Advisory Committee - City of St. John’s Building Codes Accelerator
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 the 2023 Annual Conference was carbon neutral from Sharp Management
Adopted a section of The East Coast Trail for maintenance
Raised $1,883 for the Community Food Sharing Association
Contributed to initiatives for the Single Parents Association and The Gathering Place
Judged Mount Pearl Focus on Youth STEM Awards
Hosted intern from Memorial University
Contributed to a number of student research projects at Memorial University and its Grenfell Campus
Meet the Team
Board of Directors
Alex Templeton
Chair
McInnes Cooper
Chad Butler
Vice-Chair
Growler Energy
Don Drew
Treasurer
Newco Metal & Auto Recycling
Laurie Coady
Director
North Atlantic
Kris Costello
Director
Oil and Gas Corporation of Newfoundland and Labrador
Heather Murphy
Director
SEM
David Pinsent
Director
World Energy GH2
Nola Sharpe
Director
Mysa
Brian Taite
Director
HMDC
econext Staff
Kieran Hanley
Chief Executive Officer
Abbie Hodder
Chief Operating Officer
Colin Corbett
Director, Clean Energy Innovation
Ogaga Johnson
Director, Workforce Development
Joanne Strugnell
Manager, Operations
Colin Heffernan
Manager, Industry and Community Engagement
Sepehr Khosravi
Manager, Climate Services
Audrey Parnell
Manager, Circular Economy
Sara Jafari
Special Projects Lead, Learning, and Policy
Chelsea Linfield
Special Projects Coordinator - Innovation and Green Jobs
Jenny Mallard
Special Projects Coordinator - Events and Engagement
Alex Rumbolt
Special Projects Coordinator - Marketing and Green Jobs
