8 early-stage climate tech startups join virtual accelerator to catalyze U.S. market entry
NEW YORK, NY | BOSTON, MA | DENVER, CO | SAN FRANCISCO, CA – 04 August 2021 – Today, the Canadian Technology Accelerator (CTA), a global initiative led by the Government of Canada’s Trade Commissioner Service, announced its tenth annual cohort of high-potential Canadian startups selected for the CTA Climatetech Program.
This climatetech accelerator is a joint initiative led by the Consulates General in San Francisco, Denver, Boston and New York. Through a unique blend of mentorship, skills workshops, networking and tailored introductions, the program supports entrepreneurs in the sustainable technology space looking to secure Seed to Series A funding rounds. During the 4-month program, the eight chosen companies will be provided key resources in the most robust climatetech markets in the U.S. to help accelerate their growth.
There is a significant demand for climate tech solutions in the U.S. now, driven by both policy and market forces. Climatetech is emerging as an increasingly important impact-critical investment area, and early-stage investment into climatetech is growing rapidly. This influx of capital paired with the U.S. administration’s renewed attention toward combating climate change promises a wealth of opportunity for this new cohort of companies.
The ongoing collaboration between public and private sector partners on both sides of the border will also play a vital role in the cohort’s success. The CTA Climatetech Program maintains partnerships with multiple influential climate tech specialists, including Columbia Technology Ventures, the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), New York State Energy Research and Development Authority (NYSERDA), Powerhouse, SecondMuse and others.
After soliciting applications from across Canada’s dynamic climatetech landscape, a panel of leading U.S. venture capitalists evaluated the applicants based on market fit and growth potential. The final cohort reflects a national reach with representation from British Columbia, Saskatchewan, Ontario and Quebec. The cohort also reflects a breadth of diverse backgrounds, with a majority of the companies’ leaders identifying as women, or Black, Indigenous, and/or People of Colour (BIPOC). Equity, diversity, and inclusion are key priorities for the CTA Climatetech, and will be prioritized when selecting mentors and speakers who participate. The full cohort of companies, their objectives and their capabilities are available in the 2021 CTA Climatetech Dealbook. Members of the cohort include:
- 3E Nano: Brings advanced solar control technology to transparent substrates such as glass, and polymeric substrates.
- BluWave AI: Uses AI to optimize the operation of smart grids, microgrids and electric vehicle fleet charging installations and increase renewable energy use.
- CERT Systems: Converts CO2 into carbon-based chemical feedstocks and fuels using only water and electricity.
- NULIFE GreenTech: Accelerates renewable fuels production to deliver a profitable, low carbon future.
- Pani Energy: Provides a cloud-based service which allows owners and operators of water treatment plants to optimize the performance of their plants.
- Reed Controls: Created the first purpose-built ecosystem for smart water management in commercial buildings.
- Riskthinking.ai: Produces software, data and analytics for measuring and managing climate financial risk.
- Technologies Ecofixe: Specializes in biological wastewater treatment with two modular systems to increase the treatment capacity of existing wastewater treatment plants.
Due to the COVID-19 pandemic, the program will be hosted virtually from July through November to allow founders to connect with U.S. mentors, investors, customers and innovation partners from the comfort of their homes. The cohort will have opportunities to leverage the following programmatic elements, among others:
- 40 hours of coaching for cohort members from NYSERDA’s Entrepreneur-In-Residence program, administered by Columbia Technology Ventures. This includes customized mentor matching with industry-leading sector experts to work through specific projects and issues affecting market entry.
- A direct pitch to researchers at National Renewable Energy Laboratory (NREL), with up to three cohort companies receiving 40 hours of complementary lab time for use with third-party validation or technical problem solving.
- Pitch deck review and edits facilitated by an experienced graphic designer.
- Corporate messaging audit facilitated by a leading climatetech communications firm
- Tailored opportunities to pitch in front of U.S.-based investors, buyers and tech scouts.
- Individual assessments to identify and tackle market barriers and strategies for successfully exporting or raising funds in the U.S.
Celebrating its tenth year, the CTA Climatetech Program has served over 75 companies that have secured more than $219 million in venture funding to date. This year also marks the flagship program’s new name, from “CTA Cleantech” to “CTA Climatetech” to more accurately reflect the breadth of Canadian capabilities and demand from investors looking to decarbonize the global economy, with the aim of reaching net-zero emissions before 2050.
“Our success in combating climate change and achieving a net-zero future depends on working together with partners. Given our history of commerce, friendship and shared approaches, we will look especially to our partners in the U.S. as a source and inspiration for climatetech innovation and the financing needed to support that growth. We are seeing incredible shifts in the dialogue around climate risk and increasing demand for connections between innovative Canadian companies and American climatetech thought leaders to generate meaningful action for future generations.”
— Khawar Nasim, Acting Consul General of Canada in New York
“Our government is committed to supporting and investing in Canada’s climatetech founders, who are making tremendous contributions to tackle the toughest climate-related challenges that exist across industries. The depth and breadth of exceptional talent joining this year’s CTA program is impressive, and illustrates the strength of the sector in Canada.”
— Rodger Cuzner, Consul General of Canada in Boston
“Investors and governments around the world recognize that climatetech investments are key to creating a sustainable economic future. As more and more businesses transition to a low- or zero-carbon technologies, the CTA program will provide this new cohort of startups with exceptional resources to be well-prepared to seize on the economic opportunities presented, and expand their footprints in the U.S.”
— Sylvain Fabi, Consul General of Canada in Denver
“These are challenging times for the global community with extreme weather events increasing in frequency, showcasing the tangible impacts that climate change will have on the world as we know it. We are committed to help forge meaningful relationships that will accelerate the growth of Canada’s climatetech start-ups who are at the forefront of mitigating these impacts. We’re thrilled to support these leading Canadian entrepreneurs, and look forward to seeing them shine and benefit from the explosive growth that is underway for this critical sectors.”
— Rana Sarkar, Consul General of Canada in San Francisco/Silicon Valley
About the Canadian Technology Accelerator Program (CTA)
The CTA program is a global business development program by Global Affairs Canada’s Trade Commissioner Service. Established in 2009, the CTA program supports the international scale-up of high-growth, high-potential Canadian firms in the sectors of cleantech, as well as life sciences and digital and information communication technologies. The CTA program reports over 574 participants collectively garnering $646 million in capital, $238 million in revenue and the creation of 1,128 strategic partnerships and 2,529 new jobs. Apply here.