Canada’s Ventures to Value Chains: Energy Storage for Transportation is part of a Foresight initiative leveraging data from technology companies and other key stakeholders to map, categorize, and analyze strategically important industry value chains for Canada in the clean economy.
Building Resilient Energy Storage Through Innovation
Canada has the potential to be a leader in the zero-emissions vehicle (ZEV) ecosystem. In 2024, Canada surpassed China as the top-ranked country according to the BloombergNEF lithium-ion battery supply chain ranking, which ranks countries based on their potential to build a “secure, reliable, and sustainable” supply chain. Production and manufacturing advancements, strong ESG credentials, raw materials, and policy commitments are all noted as reasons for Canada’s advancement in the rankings.
Our opportunities in this space have been recognized by federal and provincial governments, and key industry associations and think tanks. This report aims to add to the existing body of knowledge by focusing on the current ecosystem of energy storage technology innovation, research, and development of companies with transportation applications. It will contribute to the evolving dialogue on the energy storage value chain and the sustainable transportation sector and provide insights into possible areas where Canada can build on its strengths and potential opportunities for growth.
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The Value Chain
The energy storage technology for transportation value chain describes the steps from energy storage system materials production to end of life by outlining a series of processing steps and inputs and outputs along the value chain. The steps mapped in the dataset cover the energy storage value chain from midstream to end of life.
Companies
109 companies were assigned to Canada’s energy storage for transportation value chain. The top two VC steps with the highest number of companies assigned are in the middle of the value chain: Energy Storage System Manufacturing (39) and Charging and Refueling (34).
Road transportation, including light vehicles and medium to heavy vehicles, is the most represented transportation sector.
Our data and analysis indicate and discuss trends and clustering, areas of strength, and potential opportunities for growth. Some of the key takeaways include:
- Ontario (30), Quebec (29), and British Columbia (26) are the most represented provinces.
- Alberta is strongest in materials production.
- Nova Scotia is the most represented Atlantic province.
- Canada has a strong presence of water treatment technologies, many of which have PFAS remediation capabilities, which is a growing issue in the manufacturing of lithium-ion batteries
- Innovative battery manufacturing, such as solid-state batteries, li-metal batteries, metal-air batteries, and silicone batteries are represented in the dataset and is a growing opportunity
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Why is this important?
Foresight’s venture acceleration programming emphasizes the importance of understanding your value chain.
Knowing where a company fits along the value chain, which companies or technologies come before or after, who the competitors are, and where trends are happening geographically is critical information for ventures, industry, and investors to understand.
This information is also highly important for governments to identify areas of strength, gaps, and opportunities in the innovation landscape, pinpoint areas for targeted support and where targeted R&D and project funding will deliver the greatest return on investment for Canada’s communities and environment.
The Canada’s Ventures to Value Chains: Energy Storage for Transportation database and analysis report are invaluable tools intended to provide the Helix-5™ ecosystem unique insights into the landscape of Canadian Agri-Tech.
Interested in learning more about Canada’s energy storage for transportation value chain? Download the full report below.
