Just over halfway through 2024, Canada’s cleantech ventures are making incredible progress towards net zero with new partnerships, new investments, and new pilot projects. Cleantech ventures are pivotal in bolstering Canada's resilience and economic prosperity amidst climate change challenges, but only if they have access to capital and adoption opportunities.
Our Foresight 50 ventures are the perfect example of what impacts cleantech can deploy with capital support:
- 2021 Foresight 50 honorees have raised $1.8B
- 2022 Foresight 50 honorees have raised $580M
- 2023 Foresight 50 honorees have raised $38M
Foresight 50 ventures have raised $2.01B combined.
Before the 2024 list is announced in November, have a look at the recent achievements of our 2021-2023 honourees:
Highwood Emissions Management (2022 Foresight 50 Honoree)
Highwood Emissions Management provides software and services to help the oil and gas industry measure, analyze, and reduce greenhouse gas emissions. Their solutions support regulatory compliance and enhance sustainability by delivering accurate emissions data and actionable insights.
Recently, Highwood Emissions Management announced that they were awarded the Emerging Innovators Challenge grant from Emissions Reduction Alberta (ERA). The $2.2M grant will go towards building the company’s Emissions Intelligence Platform (EIP), which aids oils and gas companies in tracking and managing emissions data.
Dispersa (2023 Foresight 50 Honoree)
Dispersa is a Quebec venture transforming food waste into sustainable biosurfactants, offering an eco-friendly alternative to synthetic chemicals. Their biodegradable products, including the PuraSurf line, are used in cleaning and personal care applications. Dispersa's innovative approach provides high-quality, cost-effective ingredients, promoting environmental sustainability.
The venture achieved some big wins recently when they were selected for the 2024 Quebec Startup Commercialization Track Prize at the Climate Solutions Prize Festival. Additionally, they secured a combined total of $300K in investment from Cycle Momentum's Origo program and BDC's Thrive Lab.
SolarSteam Inc. (2022 & 2023 Foresight 50 Honoree)
SolarSteam Inc., a venture founded in Calgary, specializes in advanced solar thermal technology to produce clean, renewable energy. They focus on integrating solar thermal collectors with steam generation systems to offer efficient and sustainable energy solutions for various industrial applications. Their technology aims to reduce reliance on fossil fuels and enhance energy efficiency.
SolarSteam has had some big wins in recent months. Not only are they currently undertaking their first pilot through the Innovative Solutions Canada (ISC) Testing Stream, but they also received funding from both the FORGE Cleantech Product Development Grant and a grant through Alberta Innovates to help them scale their venture. Additionally, SolarSteam was selected as the winner of the People’s Choice Award at the SVG Ventures | THRIVE x Alberta Innovates Climate Challenge in May, taking home a prize of $10,000.
HTEC (2021 & 2022 Foresight 50 Honoree)
HTEC, a Vancouver-founded venture, spans the clean hydrogen value chain creating, integrating, and managing clean hydrogen energy solutions in strategic North American markets. Their innovative solutions are essential for transitioning the transportation sector to a low-carbon future.
HTEC recently achieved some incredible milestones. They received $337 million in funding for their H2 Gateway program which aims to build and operate up to 20 hydrogen refuelling stations, supporting the widespread adoption of hydrogen-powered transportation. They have also introduced plans to deploy 100 hydrogen fuel-cell electric trucks as part of the H2 Gateway program and their Vehicle Leasing Corporation. Through their BC Hydrogen Pilot Truck Project HTEC has already introduced BC’s first ever hydrogen-powered truck and participated in the creation of The University of British Columbia's hydrogen hub.
Arca (2023 Foresight 50 Honoree)
Arca is a Vancouver-based carbon mineralization company that specializes in combining ultramafic rock and CO₂ to lock carbon away permanently. Working with existing mine sites and utilizing mine waste materials, Arca has produced a process that speeds up the mineralization process, leaving little carbon footprint and creating the potential for large-scale carbon removal.
The B.C. Centre for Innovation and Clean Energy (CICE) recently selected Arca and eight other BC Cleantech companies to receive investments totalling $7.6M through their 2024 Call for Innovation. The initiative aims to support companies with projects that are tackling hard-to-carbonize areas across various sectors, and help them scale their operations.
pH7 Technologies (2023 Foresight 50 Honoree)
pH7, a Vancouver-based venture, is producing copper—a highly in-demand metal—by processing waste rocks using a proprietary and sustainable closed-loop organo-electrochemical extraction method. The process is cost effective and sustainable, and produces green hydrogen that can be used by mines as an energy source.
The B.C. Centre for Innovation and Clean Energy (CICE) recently selected pH7 and eight other BC Cleantech companies to receive investments totalling $7.6M through their 2024 Call for Innovation. The initiative aims to support companies with projects that are tackling hard-to-carbonize areas across various sectors, and help them scale their operations.
VoltSafe Inc. (2023 Foresight 50 Honoree)
VoltSafe, a Vancouver-based venture, develops advanced electrical technology that simplifies and enhances electrical connections. Their patented technology features a plug-and-play design that ensures secure and efficient connections, reducing the risk of electrical hazards. VoltSafe's solutions aim to improve safety and convenience in electrical systems for both residential and commercial applications.
VoltSafe recently announced that they have graduated from Creative Destruction Lab Atlantic's prominent Oceans Stream initiative in Halifax, Nova Scotia after being selected to participate in the nine-month intensive program. They have also joined as a partner in a $7M collaborative project called the Canadian Electric Propulsion Acceleration Coalition (CEPAC). The project was launched through Canada’s Ocean Supercluster and will support the development and commercialization of electric propulsion systems across Canadian tourism, aquaculture, and government sectors.
Summit Nanotech (2021 & 2022 Foresight 50 Honoree)
Calgary-based venture Summit Nanotech specializes in enhancing lithium extraction using their proprietary denaLi™ Direct Lithium Extraction (DLE) technology. This method improves efficiency, reduces environmental impacts, and conserves freshwater by reinjecting lithium-depleted brine. Their solutions support the rising demand for lithium in electric vehicles by providing a sustainable approach to high-purity lithium production.
Named one of LinkedIn’s Top 2023 Startups, Summit Nanotech is making headlines lately by announcing their partnership with Cobax Mining, a Chilean-based exploration company, to develop an exploration program at the Salar de La Isla salt flat in northern Chile. Additionally, Summit Nanotech entered into a joint venture agreement with Chilean mining company Llamara Group SpA to develop lithium resources in the Llamara Basin. These announcements come after Summit Nanotech was listed on the 2024 Global Cleantech 100 list.
Permalution (2022 & 2023 Foresight 50 Honoree)
Permalution is a Quebec-based venture that specializes in harvesting water from fog to provide sustainable water solutions. They offer various products and services that capture fog water for agricultural, industrial, and potable use, helping to address water scarcity. Their technology is designed to be environmentally friendly and offers a renewable water resource for different applications.
Permalution received some much-deserved recognition lately when the company won the Water Dragons U.K. 2024 - Canada competition. Additionally, Permalution was selected alongside 25 other companies to participate in AquaEntrepreneur’s third cohort, supporting the advancement of water technology throughout Quebec. These successes come after Peralution’s CEO, Tatiana Estevez Carlucci, was recognized with a Female Founder Award at the 2023 THRIVE Global Impact Challenge.
Lucent Bio (2022 Foresight 50 Honoree)
Vancouver-based venture Lucent Bio develops sustainable crop nutrition solutions that are climate-positive and non-polluting. Their flagship products, Soileos and Nutreos, are smart fertilizers made by upcycling plant-based co-products, thus supporting circular economy principles and enhancing resource management. Lucent Bio aims to reduce environmental impact and promote sustainable agriculture through innovative, custom-formulated crop input solutions.
Lucent Bio recently opened their first Sileos production plant and, working with the Agriculture Research Council of Nigeria, the venture has kicked off their field trial program for Soileos Zinc, an environmentally-friendly and innovative fertilizer in Nigeria, which aims to boost crop productivity and address food security challenges in the region. The company was also selected as a finalist in GreenBiz's Accelerate at Circularity 2024.
Planetary Technologies (2021 & 2022 Foresight 50 Honoree)
This Nova Scotia company is saving our oceans with their innovative method of adding antacid to seawater, helping to remove the acidity caused by carbon and restore the ocean's ability to absorb carbon and store it. The company hopes that, in time, ocean water will once again be able to draw carbon from the atmosphere.
Planetary recently received $1,901,060 in non-dilutive investment from CICE to develop an ocean alkalinity enhancement field trial in Burrard Inlet, BC. This project will help Planetary test their technology using ocean outfalls from Metro Vancouver’s Lions Gate Wastewater Treatment Plant.
Carbon Upcycling Technologies (2021 & 2022 Foresight 50 Honoree)
Carbon Upcycling Technologies, a Calgary-based company, transforms industrial waste and CO₂ emissions into high-performance materials. Their patented technology converts byproducts and natural materials into superior additives for cement, concrete, and advanced materials, reducing carbon footprints and enhancing material performance.
Carbon Upcycling has achieved huge success recently. They announced that they are officially a certified B Corporation and also met with members of Congress recently in the U.S. Capitol in Washington, D.C. to discuss their technology and how decarbonization can be used industry. Adding to their success, the company was named to the World Economic Forum's 2024 cohort of Technology Pioneers.
Apply for 2024's Foresight 50
2024 is shaping up to be a successful year in cleantech. Our Foresight 50 ventures’ recent achievements underscore the vital role of cleantech in advancing environmental stewardship and economic progress and are just a snapshot of all the recent success of our Foresight 50 alumni. By applying to be a Foresight 50 honouree, your venture can join the ranks of these trailblazers, gaining unparalleled visibility, investor connections, and media exposure. This recognition not only accelerates your impact but also positions your innovation at the forefront of Canada’s cleantech revolution.
Don’t miss the opportunity to propel your venture into the spotlight and contribute to a resilient and prosperous future for Canada. Become a Foresight 50 venture and secure the backing your innovation deserves.
Submit your application by August 12.
