The majority of the ocean growth is in energy with the potential to grow from $9 billion in value in 2019 to $100 billion in 2035.
While today Canada’s ocean economy is driven by traditional sources of energy, by 2035, it is expected to have significant investment in renewable energy and, more specifically, offshore wind supporting the production of hydrogen to drive clean marine transport. Canada has the wind and the water but will also require significant infrastructure investment for these large projects. There is growing international interest in what Canada has on offer for our energy future, with recent examples including the signing of the Canada-Germany Hydrogen Alliance in August 2022, as well as Canada’s Ocean Supercluster’s (OSC)signing of MOUs with the European Leaders in Blue Energy and Marine Renewables Canada