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$250 million Canadian Fund for Technology Companies that can modernize Industries

BDC Capital, the investment arm of BDC recently launched the $250 million Industrial Innovation Venture Fund to invest in tech companies and entrepreneurs accelerating the transformation of core Canadian industries including agriculture and food technologies, resource extraction technologies and advanced manufacturing.

The Industrial Innovation Venture Fund will invest in early to late stage firms with the genius and ambition to drive marked improvements in productivity and competitiveness across the value chains of the core competitive industries that are the backbone of the Canadian economy, through combinations of innovative and transformative technologies, processes, and business models.

“BDC Capital is excited to be a first mover again, this time supporting innovation and technology adoption among core competitive industries like ag-tech, resource extraction and advanced manufacturing with our new venture capital fund, said Jérôme Nycz, Executive Vice President, BDC Capital. “This fund is complementary to our existing work with the Industrial, Clean and Energy Technology (ICE) Venture Fund, and by launching the Industrial Innovation Venture Fund, we are doubling down on developing transformative solutions for Canadian industries.”

The goal of the Industrial Innovation Venture Fund is to enable technology innovation and commercialization in key Canadian industrial sectors like ag-tech, advanced manufacturing, oil and gas as well as mining tech.

BDC Capital is the investment arm of BDC- Canada’s only bank devoted exclusively to entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

New Cleantech innovations reduce emissions from vehicles and suppress dust at industrial sites

dynaCERT Inc and H2 Tek have taken home the $5,000 top prize at the Mining Cleantech Challenge in Denver, the Colorado Cleantech Industries Association (CCIA) has reported.

The two companies’ technology were chosen by mining executives and investors in the industry as the best among a competitive field of 12 total companies representing the US, Canada and Israel, the CCIA said. An international team of judges reviewed and voted on the winners, the CCIA said.

dynaCERT’s HydraGEN™ turns distilled water into H2 and O2 gases on-demand and introduces these gases directly to diesel engines’ air intakes. H2 Tek Vice President of Sales and Marketing, David Van Klaveren, said: “Our technology, HydraGEN can actually improve significantly those carbon emissions, reduce them and, along the way, pay for the capital cost of all this through fuel efficiency savings.

“We can’t ignore the fact that clean technology is an important part of our responsibility as participants and members of this industry, the mining industry,” he said. “I think it’s remarkable that an association considers this a priority: bringing together companies that have innovation for an extremely important cause.”

Hydrocarbons and CO2 are reduced due to the absence of carbon in hydrogen fuel and also due to better combustion of diesel fuel with the aid of hydrogen which has a higher flame speed, dynaCERT said.

“Although CO values for neat diesel operation is relatively lower, by inducting H2 & O2 into diesel the CO amount is further reduced,” dynaCERT said. dynaCERT has created partnerships to perfect a technology that would deliver on the promising findings with H2 & O2 injection. Not only have we developed patent-pending technology, we have completed testing and have validated that our technology works.”

Some of the features delivered through the technology, dynaCERT said:

  • “Our patent-pending electrolysis system and Smart ECM provides a reliable and adjustable delivery of H2 & O2 concentrations. Not all engines are the same and having the optimal ratio of gases provides increased benefits;
  • “Our technology is scalable allowing use with Class 6-8 on-road vehicles and transition to applications with rail, marine, off-road and power generation;
  • “Our technology is leading edge and provides solutions without drawing excessive power to perform the task;
  • “It is designed to work with OEM manufacturer’s and compliment technological improvements.”

Earth Alive Clean Technologies

Second place in the cleantech competition went to Earth Alive Clean Technologies, a microbial dust control technology that is non-hazmat, 100% organic and has biodegradable properties.

Earth Alive offers EA1TM dust suppressant and RapidAll cleaner to remove dust, dirt and any other contaminant in a natural way. EA1 eliminates 90% of dust on work sites.

EA1TM reduces dust through the use of microbial technology to keep dust particles in the soil. EA1TM reintroduces natural microbial strains compounds already found in nature into the ground to create conditions that prevent dust from becoming airborne, while helping to retain soil moisture. Microbial spores are activated after application and thrive in the soil binding soil particles and creating a firm and resistant layer preventing dust emission.

Government Funding Available to assist with exports for SME Cleantech Companies

The Government of Canada recently announced that $17 million would be made available for small-to-medium enterprise (SME) echnology companies (including Cleantech) to assist in exports.

The $17 million will be used to expand the successful Canadian Technology Accelerator (CTA) program and will be distributed to eligible companies over a five year period.

About the CTA Program

The Canadian Technology Accelerator (CTA) is a program of the Canadian Global Affairs Canada’s Trade Commissioner Service. It offers high-intensity programming that helps selected high-growth, high-potential Canadian technology firms scale up by connecting them with export, investment and partnership opportunities in global innovation centres. Over the course of a four- to six-month program, CTA participants are provided with tailored support ranging from in-market working space and coaching to market validation and introductions to potential partners, clients and investors.

Since 2013, the CTA program has helped over 500 Canadian technology companies accelerate their growth by gaining a foothold in key U.S. innovation centres. Since 2013, the program has achieved notable success in Boston, New York and San Francisco. An investment of $2 million a year has been leveraged into $510 million in capital raised, $190 million in new revenue, 996 strategic partnerships and 2,125 new jobs for 489 high-growth, high-potential firms in key technology sectors, such as information and communications technology, life sciences and clean-tech.

Canadian SME Cleantech Leaders

There are many examples of SME clean tech companies in Canada. Of the recent Global Cleantech 100 companies listed by the Cleantech Group, 12 are from Canada. The Canadian companies on the Global Cleantech 100 list are as follows:

  • Axine Water Technologies – Created a new standard for treating toxic organic pollutants in industrial wastewater, solving a global problem for pharmaceutical, chemical and other manufacturing industries. Vancouver, B.C.
  • CarbonCure – Retrofits concrete industry plants with a technology that recycles waste carbon dioxide to make affordable, greener concrete products. Halifax, N.S.
  • Cooledge Lighting – Provides adaptable LED lighting solutions to help the design industry integrate light into the built environment. Richmond, B.C.
  • ecobee – Empowers people to transform their lives, homes, communities and planet through innovative technologies that are accessible and affordable. In 2007, ecobee introduced the world’s first smart Wi-Fi thermostat to help millions of people save energy and money without compromising comfort. Toronto, Ont.
  • Enbala – Provides the advanced technology needed to ensure the operational stability of the world’s power grids by harnessing the power of distributed energy. Vancouver, B.C.
  • GaN Systems – Manufactures a range of highly efficient transistors that address the needs of various industries, including renewable energy systems, data centre servers, automotive systems, industrial motors and consumer electronics. Ottawa, Ont.
  • Inventys – Commercializes a low-cost and energy efficient technology for capturing post-combustion CO₂ from various sources, such as natural gas boilers, gas turbines, and industrial facilities, such as cement plants. Burnaby, B.C.
  • Metamaterials Technologies – Develops smart materials and photonics to provide solutions in the field of optics for several industries, including aerospace and defence, healthcare, energy, education, and cleantech. Dartmouth, N.S.
  • MineSense Technologies – Improves the ore extraction and recovery process to significantly increase profitability and decrease requirements for energy, water and chemicals. Vancouver, B.C.
  • Opus One Solutions – Developed GridOS®, an intelligent data analytical platform for smart grids that delivers optimal energy planning and management to generate, distribute, store and consume energy in a distributed network, paving the way toward a distributed energy economy. Toronto, Ont.
  • Semios -Develops agricultural technology innovation involving precision agriculture, biological pest control and data management. Vancouver, B.C.
  • Terramera – Uses technology to replace synthetic chemical pesticides with high-performance, plant-based pest control products for agricultural and consumer use. Vancouver, B.C.

The cleantech global market is estimated to be worth US$1 trillion and expected to surpass the US $2.5 trillion by 2022.

Latest Funding Allocation

The additional $17 million in funding will allow the expansion of CTA programming to global innovation centres: Berlin, Delhi, London and Mexico City. This builds upon the recent expansion of the CTA to four Asian cities (Hong Kong, Taipei, Tokyo and Singapore), funded as part of Budget 2018’s commitment to strengthen Canada’s diplomatic and trade support presence in Asia. 

Who is Eligible and How to Apply

CTAs are open to innovative Canadian tech companies that can demonstrate:

  • Traction in the Marketplace: You have at least a minimum viable product (MVP), along with quantifiable evidence of maturity (revenue, investment, or number of users).
  • Product Market Fit: You can define your target audience, articulate the problem you solve, and demonstrate differentiation of your product/service.
  • Strong & Experienced Executive Management Team: You can commit to send at least one senior member (C-level or Founder) to take part in the program and have the financial resources to cover in-market costs.
  • Potential to Scale: You have a well thought out go-to-market plan for the CTA location along with KPIs to match.

Participants are chosen in a competitive process. The Trade Commissioner Service and a panel of industry experts review the applications and decide whether applicants are eligible and a good fit for a location.

If you are chosen a CTA team members will contact you. Companies must be ready to commit the time and money needed for their executives to live full time in the target location.

For more information on how to apply, visit the CTA website.

Canada’s Key Cleantech Centres

CHAR Announces Successful Commissioning of Biocarbon Facility

Andrew White, CEO of CHAR Technologies Ltd.

CHAR Technologies Ltd. (“CHAR”) (YES – TSXV) recently announced that it has successfully commissioned its biocarbon production facility.  CHAR creates two types of biocarbon, an activated charcoal “SulfaCHAR” and a solid biofuel (bio-coal) “CleanFyre.”  At full capacity, the facility will be capable of producing up to 5 tonnes per day of biocarbon.

“Successful commissioning is a very significant milestone for CHAR,” said Andrew White, CEO of CHAR. “We are now able to produce commercial quantities of SulfaCHAR, as well as enough CleanFyre to test as part of our project with ArcelorMittal Dofasco and Walker Environmental.”

The completion of commissioning is the next milestone in CHAR’s Sustainable Development Technology Canada (SDTC) project.  Upon acceptance of the milestone report by SDTC, the next progress payment can be processed.

CleanFyre is a carbon neutral solid biofuel, and through its implementation will allow users to significantly reduce their GHG emissions.  SulfaCHAR is a zero-waste activated charcoal, with application in the desulfurization of renewable natural gas.  Both are made from low-value materials, including anaerobic digestate and wood-based by-products.

About CHAR

CHAR Technologies Ltd. is a cleantech development and services company, specializing in biocarbon development (activated charcoal ‘SulfaCHAR’ and solid biofuel ‘CleanFyre’) and custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, and resource efficiency.

CHAR Pyrolysis Unit, pre-installation and commissioning (Photo Credit: CHAR)

Funding available for Cleantech Demonstration Projects in Ontario

BLOOM is issuing a call for funding applications to support the completion of low carbon, clean technology demonstration Projects in Ontario.  BLOOM is a private, not-for-profit federally incorporated company that brings together public and private sector stakeholders to achieve sustainable outcomes that manage risk and deliver economic, environmental and social benefit.

As a requirement, applications must be submitted by 2 co-applicants: a cleantech solution provider and a customer host that is representative of a broader sector.

BLOOM will be providing grant funding on a 50:50 cost-share basis, up to a maximum of $150,000 per Project.  BLOOM is responsible for managing this Program to support Ontario’s Climate Change Action Plan and transition to a low carbon economy.  Ideally, proposed Projects have strategic partners to support the roll-out and market adoption of the low carbon cleantech solution, following completion of the demonstration Project.

Applications are due by May 31, 2018. Successful co-applicants will be notified by June 30, 2018. Demonstration projects must be completed by March 15, 2019.

For additional information, click here.

Ontario Announces Cleantech Strategy & Support for Cleantech Companies

Article by Richard CorleySophie Langlois and Catherine Lyons

Goodmans LLP

Recently, the Ontario Minister of Research, Innovation and Science, Reza Moridi, launched Ontario’s Cleantech Strategy (the “Cleantech Strategy“) which aims to catalyze the growth of Ontario’s clean technology sector to support sales into a global market which is expected to grow to $2.5 trillion by 2022. The Cleantech Strategy is aligned with Ontario’s five-year Climate Change Action Plan (CCAP) to fight climate change, reduce greenhouse gas (GHG) pollution, and drive the transition to a low-carbon economy.  It is also aligned with Ontario’s Business Growth Initiative (BGI), which is, among other things, assisting innovative companies to scale up.

Purpose of the Cleantech Strategy

The Cleantech Strategy bolsters Ontario’s commitment to support the development of new, globally competitive low-carbon technologies that will contribute to fighting climate change and to meeting Ontario’s GHG pollution reduction targets of 15% below 1990 levels by 2020, 37% by 2030 and 80% by 2050. As Minister Moridi explained:

By helping our cleantech companies get ready to scale – and helping them to connect to early customers here in Ontario – Ontario is supporting innovation and reducing emissions and environmental impact across industries. Over the longer term, we expect to see more scaled-up Ontario cleantech companies recognized as North American leaders.

Ontario has the largest share of cleantech companies in Canada and the Cleantech Strategy further supports the province’s leadership in GHG pollution reduction through the development and scaling of cleantech solutions.

Principal Elements of the Cleantech Strategy

Based on Ontario’s strengths in cleantech and global demand, the Cleantech Strategy prioritizes the following four cleantech sub-sectors: energy generation and storage, energy infrastructure, bio-products and bio-chemicals, and water and wastewater.

The Cleantech Strategy has four interrelated pillars through which the province intends to meet its objective of helping cleantech companies scale up and meet global demand:

  1. Venture and scale readiness – strengthening opportunities for in-house research and development, strengthening entrepreneur knowledge of key global markets, reducing regulatory uncertainty to facilitate access to capital, and attracting and developing a strong pool of sales, marketing and management talent
  2. Access to capital – increasing access to scaling capital, providing guidance on available provincial and federal cleantech funding, and simplifying access to such capital
  3. Regulatory modernization – streamlining the regulatory environment where possible to reduce barriers for cleantech market entry, supporting performance-based standards and approvals processes, and supporting the development of harmonized industry standards
  4. Adoption and procurement – increasing demonstration and pilot opportunities to de-risk and validate new technologies, and addressing prescriptive and risk-averse procurement practices

Initiatives funded through Ontario’s carbon market as part of the Cleantech Strategy include the Global Market Acceleration Fund (GMAF) and the Green Focus on Innovation and Technology (GreenFIT).

The Global Market Acceleration Fund

The GMAF will help companies lower the risk associated with expanding production of a proven clean technology.  The fund will also assist companies with the cost of scaling up inventory, distribution and sales to domestic and global markets.  The GMAF can provide between $2 million and$5 million of funding to Ontario-based companies with promising GHG reduction technologies and scale-up and export potential.  To receive funding, these companies must be able to demonstrate funding commitments for at least 50% of the eligible project costs. A total of $27 million has been allotted to the GMAF.

Green Focus on Innovation and Technology

Through the GreenFIT program, Ontario will commit $10 million towards demonstration projects of new technologies and services. Early adoption of these new technologies and services will benefit both the adopting public sector institutions with support for their emissions reductions and participating companies with opportunities for validation and credibility for their products.

The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.

_________________

About the Authors

Richard Corley is a partner at Goodmans LLP and leads the firm’s Cleantech Practice Group.

Sophie Langlois is an associate at Goodmans LLP.  She practices in the area of corporate and securities law and mergers and acquisitions.

Catherine Lyons is a partner at Goodmans LLP.  She dedicates her practice to representing both private and public sector clients at the intersection of municipal and environmental law.

 

This article was first published on the Goodmans LLP website.

CHAR Announces Approval of Funding Grant For CleanFyre Biocoal

CHAR Technologies Ltd. (the “Corporation”) (TSXV:YES) recently announced that it has been approved for a grant totalling $1,062,385 provided by the Government of Ontario through the Low Carbon Innovation Fund (“LCIF”).  The grant is in support of CHAR’s CleanFyre biocoal project, with participation from ArcelorMittal Dofasco (“Dofasco”), Canada’s largest flat roll steel producer and a lead user of CleanFyre within the project, Walker Environmental (“Walker”) as a feedstock supplier and BioLine Corporation (“Bioline”) as a feedstock pre-processor.

“This grant will allow CHAR to work with innovative and progressive companies, including Dofasco, Walker and Bioline, to further develop CleanFyre, a carbon neutral, sustainable, solid biofuel, that meets the strict requirements of the steelmaking industry,” said Andrew White, CEO of CHAR.  “The project will culminate with a 20-tonne trial in an operational blast furnace at Dofasco to prove CleanFyre’s applicability within the steel industry.”

CleanFyre is a carbon neutral solid biofuel, and through its implementation will allow users to significantly reduce their GHG emissions.  Project funding will be disbursed 50% in April, followed by four additional payments on successful milestone completion.

About CHAR

CHAR Technologies Ltd is a cleantech development and services company, specializing in biocarbon development (activated charcoal ‘SulfaCHAR’ and solid biofuel ‘CleanFyre’) and custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation & remediation, engineering, and resource efficiency.

About Low Carbon Innovation Fund

The Low Carbon Innovation Fund is a fund to help researchers, entrepreneurs and companies create and commercialize new, globally competitive, low-carbon technologies that will help Ontario meet its GHG emissions reductions targets.  The Low Carbon Innovation Fund is part of Ontario’s Climate Change Action Plan and is funded by proceeds from the province’s carbon market.

Forward-Looking Statements

Statements contained in this press release contain “forward-looking information” within the meaning of Canadian securities laws.  When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in CHAR’s MD&A dated February 26th, 2018 and available under CHAR’s profile on www.sedar.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Andrew White
Chief Executive Officer
CHAR Technologies Ltd.
e-mail: [email protected]
tel: 647-968-5347

Marie Verdun
Manager, Corporate Affairs
ArcelorMittal Dofasco
e-mail: [email protected]
tel: 905-548-7200 x2066

ArcelorMittal Dofasco, Hamilton, Ontario

CHAR Technologies Acquires The ALTECH Group

The ALTECH Group of companies (“Altech”) and CHAR Technologies Ltd. (“CHAR”) are now working together!  CHAR Technologies Ltd. (TSXV:YES) has acquired The ALTECH Group in an effort to expand the offering of cleantech environmental technologies, including SulfaCHAR and CleanFyre.  The ALTECH Group provides environmental engineering solutions to industry in North America in the areas of air pollution control, industrial energy efficiency, and process water recycling.  The new combined entity provides cleantech solutions to industrial environmental engineering challenges.

CHAR currently produces SulfaCHAR®, a bio organic product, similar to activated carbon, competing on cost and performance with other air pollution control solutions.  SulfaCHAR is specially designed to remove hydrogen sulfide from renewable natural gas (ie. biogas from anaerobic digesters and landfill gas, as well as other contaminants from industrial air emissions).  CleanFyre® is an exciting new bio-coal product that is a cost effective substitute with similar energy potential to coal as a fossil fuel.  The major advantage of bio-coal is that it is Greenhouse Gas (GHG) neutral.  Companies replacing coal with CleanFyre will be eligible to earn GHG Credits in the fight for Climate Change.  This is an important product advancement in the fight to significantly reduce Greenhouse Gases.

 

The merged entity has over 30 years of experience throughout North America in delivering full-service engineering and turnkey technology installations to corporations interested in sustainable and cost effective solutions.  As the holder of a number of patents, ALTECH and CHAR have unique, cost effective solutions for effluent air and water problems.  The combined entity has the ability to design, fabricate, and install leading edge cleantech solutions, solving complex environmental problems in very cost effective ways.  As a group that is constantly innovating, this partnership of cleantech firms continues to develop and apply world class solutions that make sense from a cost savings point-of-view.

 

 

 

Contact:

 

Mr. Alex Keen:   [email protected]

Mr. Andrew White:   [email protected]

 

CHAR Technologies Ltd. Announces Approval of $1 Million Grant

CHAR Technologies Ltd. (the “CHAR”) (YES – TSXV) is pleased to announce that it has been approved for a grant totalling $1 million provided by the Government of Ontario through the Ontario Centres of Excellence (“OCE”). The grant is in support of CHAR’s current SulfaCHAR production project, which has previously received funding and support from both Sustainable Development Technology Canada (“SDTC”) and the Canadian Gas Association (“CGA”).

“This grant will allow CHAR to both redeploy financial resources currently committed to the SulfaCHAR project, while at the same time will allow CHAR to expand the scope of the project,” said Andrew White, CEO of CHAR. “The funding recognizes the carbon-related benefits of the project, and will allow CHAR to more rapidly execute on the production and use of SulfaCHAR.”

Funding will be disbursed on completion of three milestones. CHAR has received initial funding of $237,759, and will receive three additional payments on milestone and project completion.

About CHAR
CHAR is in the business of producing a proprietary activated charcoal like material (“SulfaCHAR”), which can be used to removed hydrogen sulfide from various gas streams (focusing on methane-rich and odorous air). The SulfaCHAR, once used for the gas cleaning application, has further use as a sulfur-enriched biochar for agricultural purposes (saleable soil amendment product).

About OCE
Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario’s industry, universities, colleges, research hospitals, investors and governments. OCE is a key partner in delivering Ontario’s Innovation Agenda as a member of the province’s Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs rapidly grow their company and create jobs.

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