SRTX calls for backup

TECH

SRTX calls for backup

What happened: Materials startup SRTX is calling for Canadian investors and retailers to back Canadian companies to weather US tariffs. The company temporarily laid off 40% of staff in anticipation of the upcoming tariffs that would see as much as 41% tariffs on SRTX’s consumer sales to the US. 

In a LinkedIn post, founder Katherine Homuth asked readers to call and email major retailers like Loblaws, Shoppers Drug Mart, and Sephora to ask them to stock SRTX’s made-in-Canada products.

The background: SRTX is best known for Sheertex, a highly durable brand of pantyhose made from ultrahigh-molecular-weight polyethylene. Their products can be worn many times more than traditional pantyhose, reducing waste, and have a carbon footprint that’s about 10x smaller than competitors.

SRTX plans to build out an end-to-end manufacturing business in Canada with a focus on sustainability, opening a 300,000 sqft manufacturing facility in Montreal earlier in February. The company is also developing a new water repellent textile called Watertex to replace toxic waterproof coatings and manufacturing software.

What’s next: Like many Canadian companies, SRTX is now focused on moving product to the US before tariffs are implemented. The company is looking to close a $23 million USD funding round by the end of Q1 to fund its operations.

SPONSORED BY NOTION

Free Notion and Unlimited AI

Thousands of startups use Notion as a connected workspace to create and share docs, take notes, manage projects, and organize knowledge—all in one place. We’re offering 3 months of new Plus plans + unlimited AI (worth up to $3,000)! To redeem the Notion for Startups offer:

1. Submit an application using our custom link and select Beehiiv on the partner list.

2. Include our partner key, STARTUP4110P67801.

Learn More

CLIMATE CAPITAL

🧑‍🔬 The BC Fast Pilot program announced $1.5 million in funding for 12 cleantech pilot projects. Recipients include pH7 Technologies’ metal recovery pilot, Orca Water Solutions’ residential and commercial water measurement, and Edison Motors’ hybrid-electric highway snow plow. 

💰 Canada Growth Fund committed $50 million to Longbow Capital’s Energy Transition Fund II focused on energy transition and low-carbon tech investments. The commitment is part of CGF’s cleantech fund strategy to provide more investable capital to speed up the growth of cleantech companies.

MILESTONES & PRODUCT

📊 Carbonhound partnered with RBC to offer Carbonhound’s emissions reporting software to Canadian business clients. Carbonhound’s platform enables business to automate emissions data collection.

⚡️ World Energy GH2 is exploring new markets for their Newfoundland wind-to-energy project. The project will convert wind energy to green hydrogen for export. World Energy is exploring data centres or e-fuel production due to difficulty finding markets for its green hydrogen and ammonia.

🏭 InnoTech Alberta received $4.5M from NRCan, Alberta Innovates, and industry partners for its carbon capture research project. The amine intensification project is exploring ways to improve the energy efficiency of carbon capture from flue gas.

NEWS

B.C. fast-tracks clean energy

What happened: B.C. plans to accelerate clean energy projects in the province by making the B.C. Energy Regulator a “one-window shop” to oversee projects. The regulator already oversees oil and gas, geothermal, hydrogen and other energy projects.

The context: Clean energy companies currently have to work with multiple agencies to get permits and approvals for projects. In some cases, responsibility overlaps between departments, slowing down project development. 

Why it matters: Complicated permitting is slowing down the deployment of clean energy projects, many of which are at the provincial level. Consolidating permitting is one of the main recommendations from the Canada Electricity Advisory Council, put together in 2023 to advise the government on how to enable more electrification. Similar reforms in New York and California show that a one-window approach helps streamline the process.

Yes, but: B.C. also announced plans to fast-track 18 energy projects in response to US tariff threats, most of which are fossil fuels. 

What’s next: Legislation is planned for the spring and the government said the regulator will start by focusing on wind, solar, and transmission lines. The government is also speaking with First Nations about the proposed changes.

Enjoying the newsletter? You probably know someone else who’d enjoy it too.

Share the link below to spread the word (and earn rewards!)

IN THE NEWS

💸 Surprise steel tariffs: After delaying sweeping tariffs on all Canadian goods until March, US President Trump said he would introduce new tariffs on steel and aluminum. Canada is the biggest outside supplier to the US. The move would increase costs for many industries including cars, solar panels, wind turbines, and more.

🏗️ Build back better: Making better decisions on where to build could save $3 billion annually by avoiding high risk wildfire and flood zones, according to a new report by the Canadian Climate Institute. Building new homes or rebuilding homes after disasters in high risk areas will set back housing targets and increase the costs of climate-related disasters. 

🕵 Protecting national interests: Canada added advanced energy, manufacturing, and zero-emissions aircraft to its list of Sensitive Technologies. The list lays out areas where the feds will limit foreign involvement, from research funding to corporate takeovers. Energy storage, nuclear and critical minerals manufacturing are notable additions. 

📉 PPA free fall: New power purchase agreements in Canada plummeted last year according to the Business Renewables Centre. 2023 saw a record-breaking 1,030 MW of projects. That dropped to just 52 MW in 2024. The drop was driven by Alberta’s pause on renewables projects - it’s the only province that allows direct contracts between renewable energy buyers and developers. At least 3,280 MW of projects are ready but waiting for policy uncertainty to settle.

🌎 Climate data blackout: Researchers at the U.S. National Oceanic and Atmospheric Administration (NOAA) were directed to stop working with “foreign nationals”, cutting access to critical climate data. The data is used by many countries for climate research, monitoring extreme weather, and ecosystem health.

BIG PICTURE

Rivian vans are now available for commercial fleets after Amazon-exclusive deal

China will let markets play a bigger role in setting renewable energy prices

SBTi loses backing from Bezos Earth Fund

A new breed of rice could cut methane emissions by 70%

UK eases rules on nuclear power plant siting

Two major battery plants cancelled in Georgia, Arizona

Data centre CAPEX continues to climb 

Meatly launches a world-first pet food made from cultivated meat

COMMUNITY

🚀 Clean Energy Infrastructure Optimization Challenge: Hosted by Foresight Canada, this challenge is seeking technology solutions that lower maintenance costs and enhance the reliability and performance of remote clean energy infrastructure in Newfoundland and Labrador. Apply by March 21st.

🗓️ Removing Carbon, Healing the Ocean: Join me in Ottawa for a fireside chat with Mike Kelland, co-founder of Planetary Technologies, to explore the world of ocean-based carbon removal. February 20th, Ottawa.

➡️ Discover more climate events.

💻️ Reusables.com is hiring a Product Manager to develop and deliver their suite of Reuse products across software and hardware.

➡️ Find more open roles.