Climate Tech Canada - Issue #8

Hey there,

Welcome to another issue of Climate Tech Canada! It’s officially spring, there’s sunlight after 5pm and the birds are starting to return. Who would’ve guessed it only takes an extra hour of sunshine to feel like a human again.

In this week’s issue we have funding for carbon capture, milestones for a bunch of early stage climate tech companies, and more. 

Funding and growth

Planetary Technologies (Dartmouth, NS) announced $7.8M in seed and grant funding. This carbon capture startup leverages the ocean’s natural ability to store carbon. They do this by re-purposing mine tailings to create an alkaline, bicarbonate. The alkaline is then introduced into the ocean, curbing acidification and extracting CO2 from the atmosphere.

The process also produces useful byproducts, including green hydrogen and materials used in batteries like nickel and cobalt that are recovered from the mine waste.

The funding will go towards two pilot projects in Quebec and Nova Scotia. You can hear CEO Mike Kelland pitch Planetary's technology on the Foresight podcast.

In other funding news, the Clean Resource Innovation Network (CRIN) announced $44M in funding for projects to reduce the environmental footprint of oil and gas operations. Projects include

• Tailings treatment using nanotechnologies from Carbonix

• H2Nan0’s solar activated treatment of water used in oil sands processing

• Eliminating methane venting from 100 remote wells using Kathairos’ nitrogen-based technology

Industry group Natural Products Canada announced $2.8M in project funding for 10 companies. The funding will help prepare the companies ready for commercialization. Recipients include:

• GrainFrac - technology solutions to improve the production of plant-based proteins

• Impactful Health R&D - sustainable packaging that helps prevent food waste in fresh foods

• Seed to Surf - a producer of plant-based seafood

Growth

Toronto's Element Fleet Management launched a new end-to-end service called Arc to help commercial clients transition their fleets to EVs.

Early-stage startup GreenBod was accepted to Co.Launch accelerator’s 9th cohort. GreenBod's platform connects skilled blue-collar workers to renewable energy projects.

Innovacorp added several climate startups to the latest cohort of its early-stage accelerator. Companies joining the accelerator span plant-based proteins, methane capture, tidal power generation and more!

Data-processing company QScale announced a new high-performance computing facility in Lévis, Quebec. The facility will take advantage of the province's low-carbon energy, an attractive option for customers who are looking to reduce their emissions.

Lithium-ion battery recycling company Li-Cycle is expanding with a new Centre of Excellence in Kingston. The city is home to the company’s first commercial facility.

Quebec-based Taiga Motors has started delivering its new electric snowmobile, the Nomad! Taiga went public last year via SPAC, raising $100M to fuel production.

Loop Energy, a producer of hydrogen fuel cells, signed a commercial agreement with Swiss company Innotest AG. Innotest will buy fuel cells for integration into their residential and commercial power systems.

OPTEL will be deploying its supply chain traceability technology with mining heavyweight Glencore. The project will provide transparency into Glencore’s emissions across all scopes.

Here & there

The story of British Columbia’s journey to becoming a clean-tech leader

Finalists for the 2022 BC CleanTech awards

Nova Scotia's potential to become an industry leader in decarbonizing marine vessels

BMO intends to reduce the emissions associated with their loans. They are focusing on emissions from loans to oil and gas, power generators and personal vehicles

A group of major Canadian auto associations announced “Road to 2035”, their roadmap to achieve ZEV targets by 2035

How ECO 2 Magnesia is giving mining tailings a second life

Newsworthy

The City of Ottawa’s Planning Committee approved a plan to create a sustainability standard for new developments in the city. Other cities have already implemented similar standards, such as the Toronto Green Standard.

The Federal government opened consultations on a proposed Green Energy Standard. The proposed standard would create regulations and incentives to drive the transition to a net-zero grid by 2035.

The Yukon budget included $80.3M in funding to address climate change. The budget includes funding for EV purchase incentives, expanding charging networks, and investments in grid infrastructure.

The Canada Pension Plan Investment Board (CPPIB) stated they will hold portfolio companies accountable for ESG failures by voting against directors. This move builds on earlier announcements that the Board will have a greater focus on climate action and decarbonization. The CPPIB is a huge institutional investor with more than $550B in assets.

The Federal government released more details about their planned $5B Green Bonds. The bonds will fund projects that help Canada meet its emissions reduction targets.

In the U.S., the SEC announced a proposed rule mandating the disclosure of climate risk for public companies. Climate Tech VC has a quick breakdown of what this means here.

Opportunities

Natural Resources Canada is seeking applications for its Oil Spill Response Challenge. The challenge is seeking solutions that improve response time or increase spill recovery. Applications close June 1st - more info.

Canada’s Net Zero Accelerator has launched a call for proposals targeting high-emitting sectors. The program is looking for proposals in two streams: Emissions reductions in high-emitting sectors within the next decade; and transformational ideas that could support industry wide shifts to net zero by 2050. Applications for near-term solutions close June 30th - more info.

Applications are open for the Ocean Startup Project’s Ocean Idea Challenge. The challenge aims to help validate and explore ideas that improve ocean sustainability. The four week program will provide access to training and programming, with a focus on customer discovery interviews. Applications close April 19th - more info.

Fun Stuff

Spring is the perfect time to start reconnecting with nature. Check out the iNaturalist identification app to easily identify plants and animals around you. The app uses image recognition to help you identify new species. This could be a great outdoor activity with kids as the snow melts while contributing to citizen science.

That’s all for this week. As always, thanks for reading and if you’re enjoying the newsletter, considering forwarding to a friend!

Justin