Other first-time winners include Hydron Energy, Picketa Systems, and Vivid Machines.
Forsyth Canada identified the 50 “most invested” clean technology companies in the country.
The 50 startups named employ more than 770 people and have collectively raised more than $377 million in total funding.
Fifth edition of the Vancouver Clean Technology Accelerator Foresight 50 list consisted entirely of award winners for the first time. The list features startups that reduce emissions, conserve fresh water, prevent wildfires and repurpose waste. They are either profitable or poised to become so “for both investors and industry representatives.”
These companies included Carbonova, Hydron Energy, Picketa Systems, SenseNet, Vivid Machines and Xatoms. The 50 startups employ more than 770 people and have collectively raised more than $377 million in funding.
In the accompanying document pitchbookForesight Canada interim CEO David Sanguinetti said that together they “represent the most risk-free and scalable investment in climate growth technologies.”
“This is not speculative [research and development] or moral goods; they have proven commercial viability for increasing profits and planetary impact,” he added.
Calgary-based Carbonova, which aims to convert greenhouse gas emissions into carbon nanofibers for everyday use, has closed. $6 million in funding last year.
Vancouver-based Hydron Energy, which is working to convert raw waste gas into clean, purified gas, recently received $1.3 million from the BC Center for Innovation and Clean Energy to commercialize its technology. He also landed agreement with gas company FortisBC to deploy its system.
Vancouver-based SenseNet Fellow is tackling a completely different problem with its technology: fire detection. Last month, the startup closed a $14 million Series A for artificial intelligence (AI) technology that helps detect wildfires before they become noticeable.
On the other side of the country, Fredericton Picketa Systems is helping farmers analyze plant tissue to better manage crops south of the border after extension in the USA last year.
Ontario-based winners included Toronto-based Vivid Machines, which provided $5.8 million back in 2023 for virtual monitoring of fruit trees and the recently closed Xatoms $3 million continue efforts to purify water using quantum chemistry.
Image courtesy of Emissions Reduction Alberta and Carbonova. Photo via YouTube.
