The British Columbia (BC) Centre for Innovation and Clean Energy (CICE) is investing $2.46 million CAD in five women-led climate tech companies as part of its first Women in Climate Tech Call for Innovation funding drive.
“When we bring more voices to the table, we unlock better ideas, build stronger businesses, and find smarter solutions.”
Sarah Goodman, CICE
The recipients are primarily focused on carbon removal and conversion. Agora Energy Technologies plans to turn CO2 into clean energy by melding capture, purification, and conversion into a single-step process that outputs both hydrogen as well as “high-energy” chemicals used in batteries. EnviCore aims to convert industrial waste minerals into low-carbon cement. Gaia Refinery is working on easy carbon removal for industries like pulp and paper mills. Seacork Studio intends to turn seaweed into carbon-negative acoustic panels for buildings.
Ayrton Energy is focused on hydrogen, and is developing technology that uses existing gas storage infrastructure to store and transport the cleaner fuel.
CICE’s funding amounts are largely tied to the expected project value and range from $350,000 for Seacork Studio through to $700,000 for Gaia Refinery. The investments are non-dilutive and offer support options that include mentorship and up to 25 percent of a project’s upfront capital.
Centre CEO Sarah Goodman claimed the investments were “unlocking the full potential of Canadian talent” by giving women more opportunities to solve difficult problems and contribute to a stronger business landscape.
“When we bring more voices to the table, we unlock better ideas, build stronger businesses, and find smarter solutions,” Goodman said. “This is especially true in climate and energy, where the challenges we face are complex and deeply connected.”
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CICE was created in 2021 with help from the BC and federal governments as well as Shell Canada, but operates as an independent non-profit that funds early-stage climate and energy startups. The corporation has so far poured $39.7 million into 65 efforts that it claims are worth over $264.3 million.
Before this latest contribution, CICE invested $7.7 million in 13 projects meant to address wildfires and an open call for innovation from July 2024.
Feature image courtesy of Bryan Hanson on Unsplash.