Window of opportunity

TECH

Clean growth investors look north

What happened: Global investors are giving Canada a second look as the U.S. scales back support for clean energy and climate tech under the Trump admin.

Carbon removal developer Deep Sky says U.S. carbon developers are increasingly reaching out as they’re facing policy uncertainty (or outright hostility) and fading federal incentives.

And it’s not just carbon removal. Nova Scotia’s Wind West project, which plans to license 40GW of offshore wind to become a regional energy exporter, is gaining global attention as Trump halts offshore wind development in the U.S.

The context: The Biden-era Inflation Reduction Act (IRA) set the U.S. up to lead on low carbon tech with billions in incentives for carbon removal, hydrogen, wind and more.

But the Trump admin has swiftly rolled back these investments, moving to repeal the IRA and putting up roadblocks for clean energy projects.

Why it matters: For years, capital for climate tech and clean growth has flowed south. This policy reversal could reset the competitive landscape and give Canada an opening to lead.

Carbon removal, offshore wind, and critical minerals are already seeing growing interest - and hydrogen and low-carbon manufacturing could be next.

The bottom line: In the wake of policy upheaval in the U.S., global investors and developers are looking for stable ground. Canada’s political stability, abundant resources, and strong climate tech sector are putting it firmly in their sights.

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CLIMATE CAPITAL

🧬 Future Fields (Edmonton, AB) raised a $10.9 million Series A round led by Amplify Capital, BDC Capital and R7 Partners. The company uses genetically engineered fruit flies to produce sustainable high-value proteins. The funding will allow Future Fields to expand its operations and overcome a shortage in bioreactors.

💨 Deep Sky (Montreal, QC) received $5 million from Emissions Reductions Alberta to support Deep Sky’s Alpha innovation and commercialization centre in the province.

⚡ Creative Energy closed a $50 million loan commitment from the Canada Infrastructure Bank to support deep decarbonization in buildings by deploying Creative’s district energy systems in Ontario and BC.

IN THE FIELD

🌱 Veritree and Silk & Snow teamed up to offer customers the choice to plant trees in wildfire-affected areas of British Columbia instead of receiving a free product, planting 30,000 trees and saving $1 million in costs.

🔌 Elocity will deploy its “nano-grid” bi-directional charging tech in Ontario backed by a $660K grant from OVIN.

🔋 Moment Energy achieved full-scale production at its Vancouver factory, producing their Luna battery storage system from recovered EV batteries.

♻️ Sustane signed a long-term offtake agreement with chemicals giant BASF for its recycled plastic, and will explore opportunities to expand Sustane’s tech internationally.

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ECOSYSTEM VIEW

10 Startups building the future of industry in Canada

Across advanced manufacturing, carbon utilization, next-gen materials, energy, and critical minerals, these are some of the Canadian startups defining the future of industry.

⚙️ Equispheres: Mass production for metal additive manufacturing through engineered materials

🤖 Promise Robotics: AI-powered offsite construction platform

🏭️ Carbon Upcycling: Transforming CO2 and industrial byproducts into abundant and local sources of low-carbon cement materials.

🧲 Cyclic Materials: Recovers rare earths from end-of-life products, building a secure, local and sustainable supply chain that reduces waste and reliance on mining.

🔋 Mangrove Lithium: Modular lithium refining to extract battery-grade materials from brines, rock and end of life batteries.

♻️ Exterra Carbon: Turning mine tailings into low-carbon materials

🛰️ Ideon Technologies: Enables the mining industry to confidently identify, map, and monitor mineral deposits and other subsurface anomalies.

🧪 CERT Systems: Converting carbon dioxide into sustainable high-value chemicals, using only water and electricity.

🥵 Kanin Energy: Capturing waste heat from heavy industry and turning it into clean energy

⚡️ Peak Power: Energy storage for large energy users to reduce energy costs

NEWS

📡 Signals & Currents

⛏️ Western Canada could become a critical minerals behemoth: The Battery Materials Association of Canada identified nine critical minerals and eight regional clusters with existing infrastructure, workforces, and mineral access ready to build out the future of Canada’s critical mineral value chain. [BMAC]

🔥 Alberta gives up on flaring limit - The province removed limits on natural gas flaring just as the sector surpassed its limit for the second year in a row. [G&M]

💰 CDR gets govt backing - Germany included carbon removal in its 2025 budget proposal for the first time, showing strong interest and government buy-in for the sector. [Carbon Herald]

💧Germany cuts hydrogen spending - The proposed budget will cut green hydrogen funding for industrial decarb by 2/3rds. Canada teamed up with Germany on a hydrogen export market that is still in the works. [Hydrogen Insight]

⚡ Google partners to deploy next-gen conductors - Deployed at high-impact transmission lines, these advanced conductors could double transmission capacity in months vs years. [Google]

🛢️ Houston’s Gold H2 produces hydrogen from depleted oilfields - The company used microbiology to generate hydrogen in situo and says it has a line of site to $0.50/kg. [Gold H2]

COMMUNITY

🚀 Are you a climate angel? If you’d like to see deals from founders working on real-world decarbonization, let me know here and I’ll loop you in.

➡️ Discover more funding opportunities.

🗓️ Info Session - Toronto Climate Week: Join our friends at Toronto Climate Week to learn more about the event - what it is, how it works, and how to get involved! The inaugural event will take place Oct 1-3rd, turning into a week-long event starting June 2026. July 10th.

➡️ Discover more climate events.

🧑🏻‍💻 Kanin Energy is hiring a Director of Project Procurement to drive procurement across its portfolio of Waste Heat to Power projects.

➡️ Find more open roles.