A record number of Canadian clean technology companies have been named to Cleantech Group‘s 2018 Global Cleantech 100 list. The list, which recognizes companies that show the greatest potential for market impact, included 13 Canadian companies, up from last year’s record of 11. The companies, a high proportion of which are backed by venture capital, are: Awesense, Axine Water Technologies, CarbonCure, Ecobee, Enbala Power Networks, Enerkem, Farmers Edge, GaN Systems, MineSense Technologies, Opus One Solutions, Saltworks Technologies, Semios and Terramera.
Canadian Cleantech Companies Shine on Prestigious 2018 Global Cleantech 100 list
January 23, 2018
SAN FRANCISCO–(BUSINESS WIRE)–Canadian cleantech companies have descended on Silicon Valley this week to showcase their technologies and meet with investors at the 16th annual Cleantech Forum San Francisco.
Cleantech Group, the research and advisory firm that organizes the Forum has announced its 2018 Global Cleantech 100 list, a recognition of companies around the world with the greatest potential for market impact. A record 13 Canadian ventures are featured on this year’s list, breaking last year’s record of 11. Since 2010, when only two Canadian companies were recognized, Canada has consistently improved its performance and is now punching well above its weight.
“International markets are demanding more efficient and sustainable energy supplies and manufacturing processes. Canadian companies are well equipped to respond with economically competitive solutions. The companies attending the Forum are a fantastic representation of Canada’s strength in this sector,” said Jon Dogterom, Managing Director, Cleantech Venture Services at MaRS.
As of Q3 2017, a total of $132M was invested in Canadian cleantech companies across 29 deals. VC investment in Canadian cleantech has been strong over the last two years with $208M total VC funding in 2016.
“The cleantech industry employs more Canadians than oil and gas, venture capital funding has increased, and international pressures are driving unprecedented rates of adoption for these technologies. The strong showing of Canadian companies on this year’s Global Cleantech 100 list affirms that we’ve reached a tipping point,” says Joshua Wong, President and CEO of Opus One Solutions, a 2018 Global Cleantech 100 winner. The company’s signature GridOS was named one of Fast Company’s 2017 World Changing Ideas.
“The Global Cleantech 100 is our attempt to read the views and actions of the international market to identify companies that are likely to have major market impact over the next five to 10 years,” said Richard Youngman, CEO of Cleantech Group. “Canada has out-performed again this year, as a result of years of sustained efforts to nurture promising cleantech ventures. More recently, Canada has developed a strong reputation as a place to look for top private technology companies tackling global industrial challenges.”
As Canada strives to fulfill its obligations under the Paris Agreement, the 2017 federal budget outlined plans to double investments in clean energy innovation by 2020, with $2.2 billion earmarked to support cleantech R&D, commercialization and adoption. Internationally, Canada has also pledged $2.65 billion in climate finance funds to help developing countries transition to low carbon, climate-resilient economies, including $1.8 billion to leverage private-sector investments.
Canada’s Parliamentary Secretary to the Minister of Environment and Climate Change, Jonathan Wilkinson, is leading this week’s delegation.
“Taking action on climate change and promoting clean growth is a top priority for Canada. In 2017, Canada jumped from seventh to fourth among global clean technology innovators, which speaks to the extraordinary leadership of Canadian companies in this sector. The Cleantech Forum puts a spotlight on many of our most promising companies, enabling vital partner and investor connections that accelerate the commercialization and adoption of these technologies,” said Wilkinson.
Canadian Cleantech 100 winners:
Axine Water Technologies
Enbala Power Networks
Opus One Solutions
Additional Canadian ventures attending as part of the core delegation:
MTI – Metamaterial
Avalon Battery Corporation
Island Water Technologies
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. Our purpose is to help innovators change the world. MaRS supports promising ventures tackling key challenges in the health, cleantech, finance & commerce, and work & learning sectors as they start, grow and scale. In addition, the MaRS community fosters cross-disciplinary collaboration to drive breakthrough discoveries and new solutions to be adopted in Canada and beyond, growing our economy and delivering societal impact at scale.
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