September Alumni Recap | Foresight Alumni Raise +$28M

September 29, 2023

Foresight’s network of inspiring cleantech ventures have been working hard to put Canada on track to achieve a net zero future, and we’re excited to share some of their incredible accomplishments with you. 

This month, our amazing alumni companies successfully closed multi-million dollar funding rounds, received international awards, and are breaking ground on new projects. 

Here are a few of the highlights:


Arca has secured $1.25 million from the B.C. Centre for Innovation and Clean Energy (CICE) to fast-track the commercial scaling of its air-to-rock carbon mineralization solution.

Novarc Technologies, which specializes in automated welding equipment using artificial intelligence (AI), announced it has raised $20 million USD in all-equity Series A funding. 

Frontier has facilitated $7 million of carbon removal purchases from 12 companies, including Foresight 50 honouree Planetary Technologies

GreenCentre Canada has accepted seven more companies into their FedDev Ontario-supported Advance-ON program, including Foresight alumni CO2L Tech, who will benefit from a technical development project valued at $75-100k.

Awards & Recognition

Foresight alumni Brickeye and PolarBlock have been selected as winners of the Top 25 in Construction, a yearly award recognizing Canada's top construction companies for their groundbreaking contributions to the industry.

TerraFixing co-founder Vida Gabriel has been named one of Forbes’ Top 30 Under 30. Gabriel has led several chemical engineering research teams and written more than 10 peer-reviewed publications.

New Projects & Partnerships

Agtech innovator HEMPALTA has partnered with Hemp Carbon Standard to introduce industrial hemp carbon credits to Canadian markets.

Foresight 50 honouree Svante has partnered with Deep Sky to study carbon storage potential in Southern Ontario.

Cvictus Inc. has announced that they have received approvals to build and operate their first commercial clean hydrogen plant

Agtech company Lucent BioSciences has secured a patent approval for their biodegradable nutrient delivery technology, which fundamentally reimagines the delivery of nutrients, using water-insoluble biopolymers to provide an innovative alternative for crop nutrition.


To date, our network of 1,000+ Foresight-supported ventures have raised $1.6+ billion in capital, generated $456+ million in revenue, and created 7,870+ high-paying jobs. In total, the economic impact of our alumni companies is more than $2 billion. 

We are inspired by the contributions our alumni companies are making to Canada’s transition to a net zero economy, and we are so excited to see what comes next for these innovators. 

Stay tuned for more stories about how our alumni are leaving their mark on the Canadian cleantech ecosystem. To submit your story, reach out to [email protected].