BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. The company helps create and develop strong Canadian businesses through financing, consulting services and securitization, with a focus on small and medium-sized enterprises. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 companies involved in the areas of Life Sciences, Telecommunications, Information Technology and Advanced Technologies.

BDC Venture Capital

Climate Investment focuses on delivering the transition to lower carbon emission energy sources. The leaders of the ten major oil and gas companies are committed to the direction set out by the Paris Agreement on climate change. They support its agenda for global action and the need for urgency. Through their collaboration in Oil and Gas Climate Initiative (OGCI), they can be a catalyst for change in their industry and more widely. OGCI aims to increase the ambition, speed and scale of the initiatives they undertake as individual companies to reduce the greenhouse gas footprint of their core oil and gas business – and to explore new businesses and technologies.

Climate Investment

Clean Energy Venture Group is an angel investment group that provides seed capital and management expertise to early stage clean energy companies. The group is comprised of seasoned operating executives with strong capabilities in the energy and environmental sectors. With each investment, they not only bring capital, but also the value of their experience and network to help companies achieve their goals. While their focus is in the Northeast United States, they have worked with companies throughout the country.

Clean Energy Venture Group

Amplify Capital is the evolution of the MaRS Catalyst Fund, investing in mission-driven, double-bottom-line disruptors in health, education and clean tech. Every dollar invested in these companies generates a financial return and a social return. That’s how they amplify capital. And they further amplify their impact by encouraging partners, investors and co-investors to invest in companies where purpose drives profit. As investors, what they invest in today shapes the world of tomorrow.

Amplify Capital

Cemex Ventures is a corporate venture capital arm of Cemex, that mainly focuses on urban development, new construction trends and technologies, improving connectivity within the construction ecosystem and reinforcing project finance resources. The firm also provides with an open and collaborative platform to lead the evolution of the construction industry by engaging startups, entrepreneurs, universities and other stakeholders to shape tomorrow's value ecosystem. It also offers incubator and accelerator services within the construction industry and technology partnerships. Additionally, it provides global and local network to an established startup in the construction ecosystem that will help scale their business.

Cemex Ventures

Oxy Low Carbon Ventures a subsidiary of Occidental Petroleum Corporation.

Oxy Low Carbon Ventures

Clean Energy Ventures invests in seed-stage climate tech startups in North America, Europe, and Israel. The company's investments are commercializing disruptive clean energy technologies and business model innovations and achieving significant scale by taking advantage of market-driven forces to address climate change.

Clean Energy Ventures

CRH Ventures focused on investing and with companies tackling 5 themes that make industry safer, smarter, more efficient and sustainable.

CRH Ventures

BDC Capital’s Climate Tech Fund invests in Canadian climate technology firms.

BDC Capital’s Climate Tech Fund

Carbon Upcycling

Carbon Upcycling is a carbontech company delivering technology to decarbonize hard-to-abate industries. Carbon Upcycling’s patented technology permanently stores CO2 in industrial byproducts and minerals, transforming them into high-performance alternative materials for cement and concrete. The Company aims to reduce the carbon impact of industrial processes, divert industrial materials from landfills, and enable a circular economy. Carbon Upcycling has received global recognition for its industry-leading innovation. Notably, Carbon Upcycling was named Carbon XPrize’s X-Factor winner, NRMCA’s 2023 Innovative Company,  Cleantech Group’s Global Cleantech 100, and Foresight 50’s Canada’s Most Investable Cleantech Ventures. Learn more about Carbon Upcycling at carbonupcycling.com.

Carbon Upcycling Technologies (CUT) focuses on converting CO2 that is generated from industrial emissions into solid, usable products. The Canadian company has developed a system that enables gaseous CO2 to be transformed into inorganic, solid material, which can be used to produce various materials such as concrete, plastics, pharmaceuticals, and batteries.

Clear the air on carbon capture, reuse, and storage

Carbon Capture, Utilization & Storage (CCUS)

Carbon Upcycling Technologies

Carbon Upcycling Joins a Community of Purpose-Driven Businesses with B Corp Certification

Adidas

To launch a pilot project that will see the Adidas manufactures some of its shoes using ink embedded with captured carbon emissions.

Carbon Upcycling Technologies (CUT) focuses on converting CO2 that is generated from industrial emissions into solid, usable products. The Canadian company has developed a system that enables gaseous CO2 to be transformed into inorganic, solid material, which can be used to produce various materials such as concrete, plastics, pharmaceuticals, and batteries.CUT’s process is to use CO2 emissions from industrial processes and convert them into feedstock that can be infused back into various materials. For example, the company mixes cement-manufacturing emissions with fly ash, which is again used as an additive when manufacturing cement.The company’s technology had been deployed at the Shepard Energy Center (the Canadian utility company Enmax’s natural gas-fuelled power plant). In November 2020, the company also partnered with the Mexican building products company Cemex to produce low-carbon concrete products. In July 2021, CUT signed a memorandum of understanding (MoU) with Lafarge Canada (the largest cement producer in Canada) for potential integration.Additionally, the company operates Expedition Air, an ecommerce site dedicated to selling consumer products made from captured emissions.In <a href="https://carbonupcycling.com/2024/04/22/carbon-upcycling-delivers-first-200-tonnes-of-co%e2%82%82-enhanced-fly-ash-to-burnco-ltd-for-low-carbon-concrete-development/">April 2024</a>, CUT partnered with BURNCO Rock Products to deliver 200 tonnes of CO2-enhanced fly ash for low-carbon concrete deployment in Calgary. Funding and financialsThe company’s most recent funding round was in <a href="https://sp-edge.com/updates/20583">July 2023</a>, when it raised CAD 34.4 million (USD 26 million) in a Series A funding round co-led by Climate Investment and BDC Capital's Climate Tech Fund. Previously in <a href="https://sp-edge.com/updates/9884">April 2022</a>, the company raised USD 6 million led by Clean Energy Ventures. The funds were used to expand its team and to deploy its second manufacturing facility in North America.

Prometheus follows a next-gen electro-chemical-based approach to convert CO2 into carbon-neutral fuel using renewable energy and carbon nanotubes. Industrial fans suck ambient air and blow it across a waterfall that absorbs CO2 and additional water. The electricity “charges” and “energizes” captured carbon with hydrogen molecules from water to create long-chain alcohols. Alcohols are then harvested using a special type of membrane called the Maxwell Core. Its pores are carbon nanotubes, which allow alcohol through while rejecting water. A final catalyst step combines the alcohols and recovers water. The company claims that it is the only one in the world that can separate alcohol from water economically. This step can be customized to produce gasoline, diesel, or jet fuel.In <a href="https://prometheusfuels.com/news/our-finished-commercial-scale-stack-design-unlocks-lowest-cost-fuel">October 2022</a>, Prometheus completed the design of the commercial-scale cell and stack Titan Fuel Forge.Key customers and partnershipsIn June 2019, Prometheus partnered with Boom Supersonic (a company building the world’s fastest supersonic airliner) to supply carbon-neutral fuel for the flight test program of one of its demonstrator aircraft scheduled for 2021. In July 2021, the company entered into a purchase agreement with American Airlines to supply 10 million gallons of carbon-neutral jet fuel.Funding and financialsIn September 2021, Prometheus raised an undisclosed amount in a Series B funding round led by Maersk, Metaplanet, and BMW i Ventures. In June 2020, BMW i Ventures also announced an investment of USD 12.5 million into Prometheus.

Prometheus Fuels

UK-based Storegga Geotechnologies (Storegga) provides carbon capture and storage (CCS) solutions for energy-intensive sectors such as petrochemicals, agriculture, and airlines. In July 2020, Storegga acquired Pale Blue Dot Energy (PBDE), through which the company became the lead developer of the Acorn CCS Project (the UK’s first large-scale carbon capture project). In August 2022, Storegga launched a new entity <a href="https://sp-edge.com/updates/11990">“Storegga Americas” </a>to explore clean fuel opportunities and to scale up its operations across the US, Canada, Latin America, and the Caribbean.Key customers and partnershipsIn June 2021, Storegga partnered with Carbon Engineering, a Canadian direct air capture (DAC) startup, to initiate engineering and designing a new facility in North East Scotland, which could remove between 500,000 and one million metric tons of CO2 from the atmosphere annually. The project was backed by a UK government grant of GBP 249,000 received in May 2021. In July 2021, Acorn CCS signed a memorandum of understanding (MoU) with SEGAL and FUKA gas terminals to capture carbon dioxide (CO2) from its operations. The two gas terminals will become the first customers for Acorn CCS. In August 2021, Storegga signed an MoU with Virgin Atlantic to secure the airline as an early customer.&nbsp;In March 2022, Storegga <a href="https://sp-edge.com/updates/9378">partnered</a> with Mitsui to commercialize its proprietary DAC technology. In June 2022, the company signed an MoU with <a href="https://sp-edge.com/updates/11230">Aker Carbon Capture</a> to deploy CCS projects in the UK. Other partners include Sval Energi, Talos Energy, Freeport LNG and <a href="https://sp-edge.com/updates/10230">ScottishPower</a>.In August 2023, Storegga together with Sval Energi, a Norwegian energy provider, and Neptune Energy, a UK-based oil and gas explorer, <a href="https://sp-edge.com/updates/21191">secured</a> their <a href="https://sp-edge.com/updates/16698">previously applied</a> CO2 storage license to develop the Trudvang CCS project in the Norwegian North Sea. In October 2023, the company signed an MOU with <a href="https://sp-edge.com/updates/22815">Svante</a> to develop CCUS projects by combining Svante's carbon capture and removal filter technology and Storegga's CO2 transportation and storage expertise. In <a href="https://sp-edge.com/updates/32814">August 2024</a>, the company partnered with PETRONAS and ADNOC to evaluate offshore CO2 storage capabilities in Malaysia.&nbsp;&nbsp;&nbsp;Funding and financialsStoregga’s <a href="https://sp-edge.com/updates/10468">most recent </a>funding round was in May 2022, when it raised GBP 51.3 million (USD 63.9 million) in its third funding round, led by Snam. In March 2021, Storegga raised an undisclosed amount from a funding round led by GIC, Mitsui &amp; Co, and Macquarie Group to deploy a DAC facility in the UK.

Storegga Geotechnologies

Carbfix is an Icelandic carbon sequestration company that stores captured carbon dioxide (CO2) permanently underground. During the pilot phase of Carbfix, findings revealed that over 95% of the injected carbon dioxide mineralized within two years, in contrast to the previous understanding that it would take several hundred or thousands of years. Carbfix began as an academic-industrial research project in 2007 and was established as a subsidiary of Reykjavik Energy (OR), an Icelandic geothermal company, in 2019. Carbfix was spun out of OR in January 2020.As the technology requires vast amounts of water to dissolve carbon dioxide, in June 2021, Carbfix’s technology was validated to be used with seawater—applicable in regions where fresh water is scarce. The use of seawater with Carbfix’s technology is experimental, with a field pilot project scheduled in Iceland for 2022.Key customers and partnershipsIn August 2020, Climeworks, a Swiss company specializing in direct air capture (DAC) technology, along with ON Power, a Swiss geothermal energy provider, signed an agreement with Carbfix to scale up CO2 removal and storage. From September 2021, the new facility, located in Iceland, is expected to remove 4,000 tons of CO2 from the atmosphere per year. In 2017, Climeworks and Carbfix also partnered to operate a small-scale DAC and storage facility of 900 metric tons per year, also in Iceland.In July 2021, Aker Carbon Capture, a Norwegian carbon capture company, signed a memorandum of understanding (MoU) with Carbfix to collaborate on cost-efficient carbon capture and storage solutions. Elkem, a Norwegian environmentally responsible manufacturer of materials, has also partnered with Carbfix to reduce emissions of its alloys plant in Grundartangi, Iceland.In <a href="https://sp-edge.com/updates/21311">August 2023</a>, the company partnered with the University of Edinburgh (UoE) and the Scottish Universities Environmental Research Centre to evaluate CO2 mineralization in Iceland. In <a href="https://sp-edge.com/updates/23535">November 2023</a>, Carbfix injected dissolved CO2 in seawater underground in partnership with the universities of Geneva and Switzerland, Iceland GeoSurvey (ISOR), and University College London.In <a href="https://sp-edge.com/updates/28975">April 2024</a>, Carbfix partnered with Deep Sky, a Canadian carbon removal project developer to explore potential CO2 mineral storage options in Canada.Funding and financialsIn July 2022, Carbfix was awarded a grant of ISK 16 billion (USD 117 million) from the EU Innovation Fund for the deployment of its Code Terminal project (a CO2 transport and storage hub) to capture 3,000,000 tons of CO2 per annum by 2031.

Carbfix

Global Thermostat specializes in Direct Air Capture (DAC) technology to remove carbon dioxide (CO2) from the atmosphere. The company employs a proprietary process using amine-based adsorbents to capture CO2, which is then concentrated for various applications, including storage and conversion into fuels, chemicals, and other products. This technology aims to transform CO2 from a climate liability into a valuable resource, contributing to a circular carbon economy​In <a href="https://sp-edge.com/updates/29707">May 2024</a>, the company was acquired by Zero Carbon Systems, a developer of CO2 removal technologies, for an undisclosed sum.Key customers and partnershipsAs of August 2021, Global Thermostat had two pilot facilities in California and Alabama, each with the capacity to remove 3,000–4,000 metric tons of carbon dioxide per year. Since 2019, Global Thermostat has been in a partnership with ExxonMobil to scale commercially.In April 2023, Global Thermostat unveiled one of the world’s largest DAC units that permanently captures CO2 from the atmosphere. The unit had been under trial since the end of 2022, capturing 1,000 tons of CO2 per annum at the company’s US headquarters in Commerce City, Colorado. The DAC unit launched was a commercial-scale demonstration, with the company taking on pre-orders for DAC systems.In <a href="https://sp-edge.com/updates/26251">February 2024</a>, the company commissioned its first containerized T-Series system for the multi-ton scale DAC, with two microalgae producers, MicroBio Engineering Inc and Cyanotech Corporation, using this system to improve the production of microalgae biomass for renewable fuels in Kailua-Kona, Hawaii.Funding and financialsMost recently in May 2023, the company received an undisclosed investment from Sumitomo Corporation, via its US-based venture arm Presidio Ventures. The two companies had also signed a letter of intent (LoI) to identify and develop CCS projects globally.

Global Thermostat

Remora’s devices capture carbon emissions directly from truck tailpipes. They can be fitted onto tailpipes of existing trucks to capture carbon dioxide (CO2) for 600–1,200 miles before an offload. Remora’s solution was initially funded by the Environmental Protection Agency (EPA) and tested at the agency’s National Vehicle and Fuel Emissions Lab.The company’s technology has a capture efficiency of 80% and can offload the captured CO2 while refueling—to be sold to concrete producers and other end users. The proceeds from the sale of CO2 are expected to be shared across fleet owners and customers once commercialized. Funding and financialsIn February 2024, the company raised an undisclosed amount in a Series A funding round led by Voyager Ventures.&nbsp; Key competitors: None comparable (Remora is the only startup that captures carbon from truck tailpipes)

Remora

Solutions that capture CO2 from flue-gas stacks including both industrial stacks and vehicle tailpipes.

Solutions that capture CO2 from ambient air, including from indoor spaces.

Solutions that “recycle” captured CO2 to produce commercial products other than sustainable fuel, such as proteins, plastics, building materials, etc.

Solutions that permanently store captured CO2 underground.

Solutions that “recycle” captured CO2 to produce sustainable fuels

Recycles captured CO2 emissions to produce sustainable fuels and other products

Carbon Upcycling Technologies

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