Good afternoon. I'm Steve Barrett, the CEO of eDNAtec, and I thank you for this invitation today.
Our company uses DNA technology to measure, monitor and characterize the environment. We analyze environmental DNA, or “eDNA”, as we call it.
My first point is that biodiversity loss is the next megatrend. We were slow to recognize climate change, and now the next wave is biodiversity loss, which is accelerating. Today, one million species are at risk of extinction, ecosystems are being devastated, and our Arctic is warming four times faster than the rest of the planet.
Given this trend, how can eDNAtec help Canada with its ambitious environment goals, such as conserving 30% of our MPAs by 2030, supporting indigenous self-determination and reconciliation, net zero, and numerous DFO mandates, such as stock assessment, invasive and endangered species, and marine spatial planning?
The thing is that the environment is notoriously difficult to measure. Traditional “catch and look” approaches haven't changed for decades. Scientists watch for whales, catch some fish and listen for birds, but only a handful of organisms are considered. It's very costly and it takes months to analyze the information. These techniques are entrenched and simply cannot scale. You can only manage what you measure.
We measure the environment with environmental DNA. We take samples of the environment, such as water, soil, sediment and even air. A litre of water can identify thousands of organisms—everything from bacteria and plankton to fish and marine mammals—and provide a highly granular baseline of biodiversity. It's 10 times faster and 10 times cheaper, and it yields 10 times more information. It's no joke—our customers tell us this. It's non-destructive to nature, and it's easy to take water samples.
We are a St. John's, Newfoundland company. Over $23 million has been invested by industry and government. We are the inventors and globally recognized experts in this area, and we've conducted hundreds of projects with DFO, the oil and gas industry, and three Atlantic indigenous communities. We are currently raising $10 million to fuel our own commercial growth.
Here are our recommendations for the government.
First, we urge you to embrace a new approach and new thinking, and to partner with SMEs like eDNAtec, with our private sector expertise.
Second, we urge you to support the expansion of the BlueGene eDNA ocean management system, currently under way. It's an indigenous-led eDNA program that incorporates traditional knowledge with advanced eDNA science, specifically in the regions of Nunavut and Nunatsiavut. It supports indigenous self-determination, reconciliation and capacity building, and we're seeking a $10-million investment from the government to the first nations-led program to support this—