CTC #89 - Enabling renewables with long-duration storage

TECH

Bridging the renewables gap with e-Zinc

e-Zinc closed a $42M funding round led by Evok Innovations for its energy storage technology. The company is classifying the round as a follow-on to its Series A round from 2022.

e-Zinc has developed a zinc-based long-duration energy storage system which stores energy produced from intermittent renewables like solar and wind. Their solution can provide storage for 24 hours, uses a water-based electrolyte with no risk of thermal runaway (i.e. catching fire) and uses readily available and recyclable materials.

Why it matters: Long-duration energy storage is key to the widespread adoption of renewable energy. Energy generated from wind and solar stored in batteries can be dispatched when renewables aren’t actively generating electricity (e.g. the wind isn’t blowing). 

e-Zinc’s system can store energy for 24 hours, significantly longer than the four-hour capacity of typical lithium-ion batteries.

What's next: The funding will be used to support demonstration projects in the field to validate the 24 hour storage capabilities. e-Zinc will also use the funding to validate their manufacturing process and shift into production mode.

CLIMATE CAPITAL

🛫 ClearSky Global raised $255.4M from a private ESG investment group for its low-carbon aviation fuel. ClearSky converts natural gas into aviation fuels with a 15-30% reduction in greenhouse gas (GHG) emissions compared to refined fuels. The funding will be used to commercialize its first three facilities.

♻️ Northstar Clean Technologies closed a $2.25M strategic investment from a pair of investors including Patrick Chiu, President of homebuilding company Trico Homes. Northstar has developed a proprietary method for breaking down and repurposing asphalt shingles.

🚚 VMAC secured $3.1M from the feds to expand production of its air compressor technology for heavy-duty commercial electric vehicles.

☀️ QD Solar, a perovskite and quantum dot solar photovoltaic technology developer based in Toronto, was acquired by US solar coatings company SunDensity. The two companies aim to combine their tech expertise to achieve +40% solar panel efficiency.

MILESTONES & PRODUCT

🏭️ Rio Tinto will install carbon-free aluminum smelting at its Quebec demonstration plant, a joint venture with Investissement Quebec. The technology comes from ELYSIS, a joint venture between Rio Tinto, Alcoa and the Government of Quebec focused on decarbonizing aluminum production.

⚛️ The CEO of ARC Clean Technology Canada, a small modular reactor developer working to bring SMRs to New Brunswick, abruptly left the company last week. Several staff also received layoff notices.

🔋 Exro Technologies is spinning out a new subsidiary, Cellex Energy, to commercialize their Cell Driver stationary energy storage system.

⚡️ Hybrid Power Solutions secured a distribution deal with construction supplier Colony Hardware to stock their zero-emissions portable generators. Colony expects to sell $2.75M worth of Hybrid products in 2024.

💧 Fuel cell maker Ballard Power Systems partnered with data centre power and cooling provider Vertiv to use hydrogen fuel cells for backup power at data centres.

🌱 TMRW Foods will test and develop new pea and fava varieties for their alternative proteins through a project led by Protein Industries Canada. 

IN THE NEWS

Capturing carbon: Shell will go ahead with its Polaris carbon capture project northeast of Edmonton. The project will capture 650,000 tonnes of CO2 annually. Shell will also build the Atlas Carbon Storage Hub, a joint venture with ATCO. Fossil fuel producers are counting on CCS to reduce production emissions. The new Investment Tax Credits were likely a deciding factor in the projects moving forward.

Backing district energy: The Canada Growth Fund (CGF) will provide financial backing for a new district energy project in Ontario using contracts for difference (CfD). CfDs set a minimum price for carbon credits - if prices fall below it, CGF will pay the difference. If the price exceeds it, the developer pays CGF. The Fund is rolling out more CfDs to mitigate the risks of changing carbon pricing policies.

Trashing methane: Canada has proposed new regulations to limit the amount of methane being produced by private and public landfills. The rules aim to cut methane emissions from landfills in half by 2030, part of Canada's climate goals and commitments under the Global Methane Pledge. Under the new rules, landfills will need to control methane emissions and capture as much of the potent greenhouse gas as possible.

Hydro refurbishment: Ontario will invest $1B through Ontario Power Generation to refurbish eight hydro generating stations across Eastern Ontario. The refurbishment will secure enough clean energy to power 1.6 million homes for several decades. The province has announced around $2.6B this year to extend the lifespan of hydro assets, a key component to meeting growing energy demands. 

Cashing in on solar and batteries: BC Hydro introduced new rebates for rooftop solar and battery storage systems as part of the province's new clean energy strategy. Homeowners can receive up to $10,000 and organizations as much as $150,000. The rebates are a first for BC, which needs to bring an extra 3,000 gigawatt hours online by 2028.

BIG PICTURE

The US Supreme Court overruled the Chevron doctrine, potentially hampering federal agencies like the EPA.

Chinese battery maker CATL successfully flew a 4-tonne battery-powered electric aircraft, showing that electrifying aviation may be possible.

Volkswagen will invest up to $5B in Rivian and entered a new joint venture for EV software.

ISO is working on an international standard for net-zero to be unveiled at COP30 in 2025.

Youth activists in Hawai’i won a historic settlement arguing the emissions from the state’s transportation system violated their rights. 

A UK nonprofit could become the world’s largest financial backers of solar geoengineering research.

COMMUNITY

💡 RBC Women in Cleantech Accelerator: Powered by MaRS, the accelerator supports 7-10 women entrepreneurs for a two-year program to advance breakthrough ideas. Apply by July 19th. 

💡 IESO Grid Innovation Fund: The Ontario IESO is seeking project proposals for innovative projects focused on electrification and demand management for EVs and HVAC. Apply by July 22nd.

💡 CICE July Call for Innovation: The B.C. Centre for Innovation and Clean Energy is seeking breakthrough solutions in hydrogen, batteries and energy storage, and low-carbon fuels. Apply by August 1st.

💡 Call for Innovation: Wildfire Tech: CICE is also seeking innovations focused on wildfire prevention, mitigation and adaptation with $3 million in funding available. Apply by August 7th.

💻️ Director of Product Marketing at Promise Robotics: Help the building industry harness automation and produce more affordable and sustainable buildings. This strategic role will shape and execute the commercialization strategy and launch Promise Robotics to market.

See more open roles here.

WORK WITH US

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