Canadian innovators behind battery and charging technologies for EVs, photonics for self-driving cars and hydrogen-as-a-service solutions for trucks, are set to benefit from latest round of Sustainable Development Technology Canada seed funding
Five Canadian electric and autonomous vehicle technology startups have received a financial boost, thanks to Sustainable Development Technology Canada’s (STDC) Seed Fund program.
The recipients were part of a group of 17 Seed Fund recipient companies announced earlier this week. Each will receive between $50,000 and $100,000, “enabling them to unlock even greater funding from their private equity partners,” according to statement announcing the winners. The five EV/AV winners are:
- Elocity, from Ontario, which has created technology to help power grids remain stable as electric vehicle usage increases;
- Calogy Solutions, from Quebec, which has created thermal management technology for lithium-ion batteries to increase battery life and safety while lowering cost;
- Summit Nanotech, from Alberta, which uses nanotechnology to sustainability source lithium ions for energy storage;
- Hydra Energy, from B.C., whose hydrogen-as-a-service technology is designed to let heavy-duty vehicles run on hydrogen, which cuts both gas costs and emissions;
- One Silicon Chip Photonics, from Quebec, a creator of navigation chips with Inertial Measurement Units that can be used in autonomous vehicles.
Two other transportation-related companies also received funding — Milk Moovement, a cloud-based software for the dairy industry, and OPA Technologies, which is working to improve communication for drivers about road closures and detours.
EVs are going to be a staple in the future of #transport. More & more EVs on the road= an increased strain on power grids. @elocitytech manages EV charging smartly by engaging owners with the electric utilities in ways that avoid the need to build new⚡️infrastructure! pic.twitter.com/BGpUs9O3ld— SDTC-TDDC (@SDTC_TDDC) July 21, 2020
Nominated by business accelerators
SDTC’s Seed Fund program was established in 2019 to support cleantech projects in multiple sectors. To identify high-potential start-ups, SDTC partners with business accelerators and incubators with specialized knowledge of their regions and target industries. It is the accelerators that nominate companies in their portfolios that meet SDTC funding criteria.
“When it comes to clean technology, we back possibilities, big ideas and game changers. The 17 start-up companies announced today embody these characteristics. As we rebuild our economy from the challenges brought on by COVID-19, clean technology will continue to be an important contributor to Canadian jobs and innovation,” said Navdeep Bains, minister of Innovation, Science and Industry.
In reference to the seven transportation-related recipients, Bains added: “Investments to improve Canada’s transport industry through clean technology not only support the work of Canadian innovators, but also reduce our environmental footprint and grow economic opportunities.”
The SDTC has a goal of supporting 100 different companies through the program each year. A second call for nominations for the 2020-2021 funding round will take place in the fall.
Did you know #lithium mining today produces over 640,000 tonnes of CO2 emissions per year?! @Summit_Nanotech‘s technology has the ability to reduce GHG emissions by an amount equivalent to removing 163,000 ? off the road! That’s the kind of cleantech #SDTCinvests in. pic.twitter.com/naadZQNXXQ— SDTC-TDDC (@SDTC_TDDC) July 22, 2020