Hyperlume breaks down AI energy bottlenecks

TECH

Hyperlume lands industry backing for energy efficient data centres

Ottawa-based Hyperlume closed an oversubscribed $17.8 million seed round for their energy efficient data centre technology. BDC's Deep Tech Venture Fund and ArcTern Ventures led the round which included the investment arms of computing heavyweights Intel and LG.

The tech: Hyperlume develops specialized microLEDs and power circuitry that replace traditional copper used to connect different components in data centres, addressing connectivity bottlenecks and improving energy efficiency.

The company claims its technology delivers 10 times the computing performance while using five times less power with four times cost reduction.

Why it matters: The explosive growth of AI is driving up data centre energy consumption. But it’s not all about building more energy generation.

Within data centres, more efficient ways of powering and transferring data can help reduce the demand for energy. Hyperlume is taking on this problem by replacing copper interconnects that connect data centre components.

Copper interconnects create a double energy burden: as electrons move through them with resistance, energy is turned into waste heat instead of computation, and then additional cooling is needed to remove this heat. 

Data centre power demand is expected to grow 160% by 2030 according to Goldman Sachs, consuming as much energy as Japan by 2026. Improving energy efficiency will be a key factor in mitigating the amount of energy consumed and the related carbon emissions. 

What's next: With this fresh funding, Hyperlume plans to accelerate its technology development and expand its team while building strategic partnerships with chip manufacturers, cloud services, and AI infrastructure providers.

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CLIMATE CAPITAL

☀️ Solaires (Victoria, BC) secured $1.55 million in non-dilutive funding from SDTC for its perovskite-based solar cells. It’s the first publicly-announced grant from SDTC since funding was paused back in 2023. Solaires plans to expand their solar cells in more applications like transportation and building-integrated solar.

🛰️ EarthDaily (Vancouver, BC) acquired Ontario-based wildfire risk and forestry analytics platform SkyForest. EarthDaily will integrate SkyForest into its real-time, AI-powered geospatial insights platform.

🌲 Boreal Carbon (Toronto, ON) acquired forest carbon offset project developer Finite Carbon. Boreal invests in and delivers sustainable forestry projects across North America.

🔌 JOLT (Australia) announced a $194 million loan from the Canada Infrastructure Bank to expand JOLT’s EV charging network across Canada. The loan will be used to install 1,500 chargers in urban centres.

NEWS

Nova Scotia looks to fill offshore wind void

What happened: Nova Scotia is getting ready to open up its waters to offshore wind farms amid growing market uncertainty. The province has delivered a number of milestones recently, setting up a new regulatory body with the federal government to oversee offshore development and joining the Global Offshore Wind Alliance. 

What’s the context: One of U.S. President Donald Trump’s first executive orders suspended new offshore wind leases, creating a huge amount of uncertainty for the industry.

While U.S. licensing doesn’t directly affect other countries, it adds more uncertainty for an industry that’s been struggling in recent years. Several high profile projects have been cancelled due to challenges managing supply chain disruptions, rising prices, and higher interest rates. 

Despite these setbacks, offshore wind has grown steadily since the 2010s and remains one of the least carbon-intensive forms of electricity generation. 

Why it matters: Canada has the longest coastline in the world, yet no offshore wind farms have been built yet. Nova Scotia is looking to tap into this massive potential, aiming to issue licenses for 5 GW of offshore wind by 2030 for local and export markets. 

Energy developers already established in North America could start looking to Canada as an alternative to the U.S. market.

The bottom line: Nova Scotia's ambitious offshore wind goals could unlock a huge amount of renewable energy capacity.

But the province will need to move quickly, delivering regulatory frameworks, revenue models, and data to create investor confidence and establish itself in a rapidly shifting global market.

IN THE NEWS

☀️ Renewable capacity: Wind, solar and energy storage grew 46% over the last five years according to the Canadian Renewable Energy Association. Energy storage grew the most, at 192%, but installed capacity sits at just 330 MW. An additional 15 GW of renewables are planned or underway, but the Association says far more potential remains.

💵 Financed emissions: Rules that would require financial institutions to disclose the emissions in their portfolios will be delayed by three years. OSFI, Canada’s financial regulator, planned to introduce the rules next year but extended the deadline to align with Canadian Sustainability Standards Board standards. These Scope 3 emissions make up the vast majority of banks’ emissions.

🚄 High-speed rail: Canada is committing $3.9B to build an electric high-speed rail network between Quebec City and Montreal. The project is still years away, but could unlock other decarbonization tools. European countries with high-speed rail have taxed or banned short-haul flights and China experienced stronger EV adoption because of less range anxiety.

⛔️ Indigenous consent: A new court ruling on an Ontario nuclear waste facility recognized that Indigenous consultation under UNDRIP has legal teeth in Canada. The decision requires meaningful consent from First Nations, setting a new precedent that will impact future clean energy and infrastructure projects across the country.

BIG PICTURE

Brookfield hunts for green bargains, picking up $1.7B in renewables

These impact fund decks could help close your next LP

Money maker: clean energy contributed 10% of China’s GDP in 2024

The IEA looks ahead to a new Age of Electricity

ARIA deploys £81M to create an early warning system for climate tipping points

Electric truck maker Nikola files for Chapter 11

U.S. pulls delegation from IPCC meeting 

Data centres and renewables could be the ultimate power couple

Heat pumps outsold gas furnaces in the U.S. for the third straight year

COMMUNITY

🚀 BC CICE Call for Innovation: Scale and commercialize your climate tech innovation with CICE. Non-dilutive funding is available for projects in low-carbon fuels, battery and energy storage, and carbon management. Apply by April 30th.

🗓️ Breakthru: Accelerating Cleantech: Hosted by the New Brunswick Innovation Foundation, this event showcases and supports the next wave of cleantech innovators. March 18th, Fredericton

➡️ Discover more climate events.

💻️ New School Foods is hiring a Business Operations Associate to to accelerate the transition to a sustainable food system.

➡️ Find more open roles.