Three Canadian startups in Venture for ClimateTech latest cohort

 Three Canadian startups in Venture for ClimateTech latest cohort

Image courtesy: Venture for ClimateTech

Venture For ClimateTech, a global non-profit venture studio + accelerator, just announced the 20 early-stage startups selected in its third cohort. Including two Canadian startups, these companies are developing cutting-edge solutions to reduce carbon emissions and fight climate change. Each participant receives up to US$100,000 in funding and hands-on support for their technologies on the pathway towards commercialization.

To date, Venture For ClimateTech’s program has supported 23 companies with US$19.2 million in grant funding. The participants across its first two cohorts have also secured US$6.2 million worth of private investment so far. Interestingly, the previous batch companies have had other follow-up successes as well. Bill Gates’ Breakthrough Energy Ventures has supported five alumni, while US Department of Energy-funded fellowships were granted to another two.

The organization has accepted double the usual number of companies this year compared to previous cohorts. Moreover, it is focusing on climatetech for four key sectors – buildings, transportation, the electric grid and industry.

Jack Baron from Venture For ClimateTech expressed optimism and shared that over 1,000 teams have applied thus far. He says they carefully chose companies that focus on one of the four key industries that New York State has identified as being essential to meeting its ambitious emission reduction targets.

“Our mission is to bring high-impact, climate, and energy startups, along with new jobs to New York State. With this track record of Venture For ClimateTech, we’re confident in scaling our program to serve even more early-stage companies.” 

Jack Baron, Venture For ClimateTech’s Managing Director

Also read: BC indigenous communities get CA$5.9M for clean energy & upskilling

Three Canadian startups among 20 in Venture for ClimateTech third batch

In this batch, Acuicy, Amatec, and Nanode Battery Technologies are three nascent climatetech startups from Canada.

Acuicy is a Halifax, Nova Scotia based Canadian startup and claims to help companies reach net-zero faster and cheaper. With deep data & insights to track progress towards net-zero targets, Acuicy is essentially a business intelligence platform for organizations. Its brief says that it uses AI to offer personalized carbon reduction solutions for suppliers to lower actual emissions. It also makes the upfront expenditure, cost savings, payback duration, and potential for emissions reduction for each low carbon investment visible to suppliers.

Amatec is a Toronto, Ontario based Canadian climatetech startup that is creating an advanced building material called High-Density Gypsum. The company claims that High-Density Gypsum gives concrete a stronger and less carbon-intensive substitute. Developers can build panelized and modular homes quickly, cheaply, and automatically, as a result.

Nanode Battery Technologies is an Edmonton, Alberta based Canadian startup that aims to alter how electric vehicles and portable electronics are charged. It is developing battery anodes and a manufacturing technology to enable rapid battery charging.

Complete list of Cohort 3 companies:

The three phase Cohort 3 program which kicked off in mid May will focus on the usual early-stage startup support, like business validation and mentorship. The companies selected in this cohort are: Active Surfaces, Acuicy, Amatec, Ammobia, Avol Aerospace, Banyon Power, Cascade Biocatalysts, Cobalt Water Global, EVA Greentech, FarField Infrastructure WPS, Fluix Inc, HelioTrope, Hydronic Shell Technologies, Janta Power, Metasorbex Corporation, Nanode Battery Technologies, PolyKrōm Energy Inc, Torev Motors, UCharge and Uuvipak.

The New York State Energy Research and Development Authority (NYSERDA) actively supports Venture For ClimateTech’s work to fight climate change. They aim to play their part in achieving the tough emission reduction targets, which have been set under the Climate Leadership and Community Protection Act.

[Editor comment: This article was updated to include Nanode Battery Technologies as the third Canadian startup, which got left out earlier.]

Also read: Canada cleantech tax credits get big boost in federal budget


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