CTC #44 - Carbon Upcycling closes Series A for low-carbon cement
Plus - Automakers launch massive charging network, a climate pitch showcase, and Canada Goose's recommerce play.
I’m trying out a shorter format for the newsletter this week - let me know what you think by hitting reply or dropping a note in the comments 🙏🏻
This week in Canadian climate tech:
Carbon Upcycling closes their Series A for low-carbon cement
A cap for oil & gas emissions is delayed to next year
Hear pitches from 12 climate ventures at Foresight’s Summer Pitch showcase
And much more - let’s get into it!
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💻 Post or find a role on our job board.
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🏭 Carbon Upcycling (Calgary, AB) closed a $34.4M Series A led by BDC Capital and Climate Investment, a UK-based oil and gas venture fund. Carbon Upcycling’s solution combines CO2 with industrial by-products to produce a cement alternative, capturing carbon and avoiding carbon-intensive cement. The funding will be used to deploy its carbon capture and utilization technology at cement plants in North America and Europe. Cement producers CRH and CEMEX both participated in the round.
🌎 In the news
Capping emissions: Canada will introduce plans for a cap on oil & gas emissions by mid-2024, with a draft expected by this October. The plans were originally expected at the end of this year. The update comes after major changes to fossil fuel subsidies were announced last week - expect oil-producing provinces to push back. More here on why a cap is needed.
Canada’s buses are getting a lot more sustainable with almost $400M in funding for zero-emission buses in cities across Ontario and B.C.
U.S. efforts to limit “foreign entities of concern” in EV supply chains may make the market more imbalanced according to some Canadian battery players.
BlackBerry’s software will act as the “plumbing” behind Foxconn’s Project X, an open platform for EV manufacturers to introduce new vehicles quickly with low-cost.
A group of seven major automakers plans to build 30,000 new EV fast chargers across North America.
Porsche is the latest major automaker considering Canada as it searches for a home for a planned $3.3B EV battery plant.
The B.C. government is investing $3.3M in a mass-timber training hub at BCIT to create needed talent for the industry.
Manitoba’s new energy policy will rely on wind and solar instead of hydro to meet growing demand. The province will double or triple generating capacity by 2040.
Emissions Reduction Alberta announced $50M in new funding for hydrogen innovation split across early- and later-stage technology.
ICE, the owner of the NYSE, is opening a futures market for carbon credits in Alberta’s TIER carbon trading system.
A study out of McMaster University found that half of the energy for heating in buildings could be met by capturing wasted energy.
☕ Here & There
Score some vintage finds with Canada Goose’s new recommerce platform
How a life-changing diagnosis led to this Vancouver climate startup
RailVision is helping train engineers make small tweaks with a big climate impact
See how your province ranks on EV-charging infrastructure
Take a virtual ride on Montreal’s new light rail system
📣 What’s Going On
🗓️ Foresight Summer Pitch Showcase: Climate tech innovators will present their solutions to investors, industry leaders and others in the ecosystem. Featuring companies like Carbon Graph (product-level carbon footprints), Volterra (EV-battery health for fleet managers) and Breeze Traffic (smart sensors to monitor city emissions). Online, August 15th.
💡Atlantic Canada Cleantech Scale-up and Investment Challenge: Applications are open for the Investor cohort of this program that aims to connect Atlantic climate tech ventures with investors while building the knowledge and skills of future climate tech investors. Applications for investors close September 15th.
Visit our job board to see open roles at some of Canada’s most innovative companies, working on next-generation batteries, on-demand transit, plant-based materials, and much more! Find your next role today:
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