Government of Canada collaborates with investment fund backed by Bill Gates, Mark Zuckerberg, and more to bankroll Canadian clean energy tech companies
In a new private-public partnership, Natural Resources Canada and Breakthrough Energy have announced they will award funding to ten Canadian companies dedicated to developing clean energy technology.
The Breakthrough Energy Solutions initiative will award up to $3 million to each winning company. The winners will also be eligible for additional private investments from Breakthrough Energy, the Business Development Bank of Canada and others.
“It’s great to see the value that our partnership with NRCan is creating as we reach this exciting milestone in the Breakthrough Energy Solutions Canada initiative”
Eric Toone, Executive Managing Director, Breakthrough Energy Ventures
Of the ten companies to receive funding, two are innovators in the electric vehicle sector. Havelaar, based out of Toronto, is developing technology which would allow EVs to charge up to six times faster than is currently possible. G-Batteries, from Ottawa, is working to create ultra-fast lithium ion batteries for use in EVs.
Other companies set to benefit from the award include e-Zn Inc, developers of technology to store energy from renewable electricity sources, and Ekona Power Inc., who are developing a process to use methane from feedstock to produce clean hydrogen and electrical power. See below for the full list of winners.