SDTC invests in a diverse pool of companies across all sectors
July 7, 2022
From agriculture to transportation to planetary mapping, all sectors must be highly innovative to reach Net Zero.
Today, Sustainable Development Technology Canada (SDTC) announced an investment of $26.7 million in ten innovative Canadian companies working in sectors ranging from agriculture, forestry, energy to transportation as they start-up and scale-up.
From producing alternative proteins from insects, to preventing forest wildfires, to helping enforce better use of carpool lanes, to manufacturing greener EV battery materials, today’s funding by SDTC supports innovative entrepreneurs in Alberta, British Columbia, Ontario and Quebec.
SDTC helps our small and medium-sized businesses grow into successful companies that employ Canadians from coast to coast to coast. We support entrepreneurs whose ideas have the potential to transform the environmental and economic outcomes of every sector.
To be truly transformational, these innovative ideas need to be deployed — not just once, but many times. SDTC funding marks the beginning of our relationship with a company -one that continues as they grow and scale their business. Four of the companies announced today are returning to SDTC portfolio for subsequent projects – a testament to how entrepreneurs value SDTC’s support as they grow.
Six of the companies announced today work in data collection and analysis to create greater sustainability in various sectors of the economy:
- Ecopia Tech Corp, a geospatial data company based in Toronto, Ontario, offers a 3D mapping system of Canadian cities at a granular level allowing to clearly visualize where rooftop solar deployment can be accelerated. This returning SDTC company has been approved for $8 million in scale-up funding.
- Pegasus Imagery, a remote sensing forestry company based in Sturgeon County, Alberta, has developed an onboard aircraft detect-and-avoid system which enables its aerial drones to replace planes and helicopters when collecting data about forest fires and search and rescue missions. This start-up will receive $2 million for their project.
- IRIS R&D Group Inc., from Burlington, Ontario, has been approved for $2.5 million. IRIS’ SmartCity software solution captures geo-tagged images of common city issues such as damaged road signs, waste bin overflows, traffic light repair, and traffic flow inefficiencies, allowing municipalities to allocate the right resources to solve the issues instead of patrolling thus saving costs and reducing emissions.
- Maxen Tech, an energy consumption company based in Montreal, Quebec, has been approved for $800,000. Maxen’s data collection platform optimizes the control of HVAC (heating, ventilation and air conditioning) equipment, reducing unnecessary maintenance costs, and the carbon footprint of buildings.
- Invision AI, a transportation company in Toronto, Ontario whose roadside camera system and proprietary software monitoring vehicle occupancy encourage environmentally friendly commuting practices and incentivize the use of carpool lanes, receives $1.7 million.
- Panevo, an energy conservation company based in Vancouver, British-Columbia has been approved for $1.5 million. Panevo’s energy and process optimization solutions to big industrial facilities help them to better manage energy performance, reduce GHG emissions, and costs.
Two companies contribute to the production of more sustainable lithium-ion batteries:
- Green Graphite Tech Inc., an energy utilization company in Montreal, Quebec, has been approved for $1.1 million. Green Graphite Tech has identified a greener solution to purify graphite (a key component of lithium-ion batteries) locally, in Canada, using less energy and producing less chemical waste.
- Summit Nanotech, a seed funding graduate from Calgary, Alberta has been approved for $1.8 million, enabling them to further develop a more sustainable lithium extraction process using less natural gas, diesel and chemical reagent.
Finally, two companies are building a more sustainable agriculture and food secure future:
- Entosystem, an agriculture and food company from Sherbrooke, Quebec receives $4.7 million in funding. Entosystem is a great example of circular economy, producing nutrient-rich insect protein flour from grocery store organic waste to feed their larvae.
- Nexus Robotics, a machine-learning agriculture company based in Saint-Bruno de Montarville, Quebec, has developed an AI-powered weed picking robot for veggie farms that not only reduces herbicide use but can also identify and prevent insect damage and fungal disease. They have been approved for $2.6 million.
These companies attempt to do extraordinary things for a greener future. Today’s investments will enable these entrepreneurs to help Canada and the world meet its 2030 climate commitments and reach Net Zero by 2050.
“Canadians across the country are part of the solution to the climate crisis and these companies are seizing the opportunity. Science, technology and innovation paired with ambitious and talented Canadian entrepreneurs are driving the breakthroughs we need to fuel a more resilient and sustainable future for all.” – The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry
– The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry
“With our support and funding at all stages of development, we are accelerating Canadian companies’ ability to become global leaders in their fields. Today’s investment allows us to reach even further into the ecosystems from energy to forestry to agriculture, supporting more Canadian entrepreneurs who will bring us one step closer to a Net Zero economy.”
– Leah Lawrence, President, and CEO of SDTC
Learn more about these companies here.
For more information or an interview with one of the companies in this round, contact Sustainable Development Technology Canada
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