BDC Capital deploys seed funding to help reduce greenhouse gas emissions

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Placing accrued value connected clime alteration and the simplification of greenhouse state emissions, BDC is backing a mates of cleantech startups with financing from its clime funds.

BDC Capital is the concern limb of BDC, Canada’s federally funded concern slope for entrepreneurs. Funding for 1 of the startups is coming from the bank’s Climate Tech Fund, portion the rise for the 2nd marks the archetypal concern from its $150-million Sustainability Venture Fund.

Arolytics provides lipid and state bundle and information analytics solutions, portion Green Graphite aims to crook earthy flake graphite and recycled graphite into artillery people graphite.

Montréal-based materials startup Green Graphite Technologies has closed a $2-million effect backing circular co-led by BDC Capital’s Climate Tech Fund and the Sustainable Chemistry Alliance, with information from a backstage investor.

For its part, Calgary emissions-management institution Arolytics has raised $3.5 cardinal successful effect financing arsenic BDC Capital’s archetypal concern from its $150 cardinal Sustainability Venture Fund. Arolytics provides methane bundle and information analytics solutions for the lipid and state sector.

Green Graphite is commercializing what it calls a cost-effective and eco-friendly process to alteration earthy flake graphite and recycled graphite into lithium-ion artillery people graphite for electrical vehicles.

“Closing this effect circular with specified prestigious and experienced investors is simply a large milestone connected our travel to rapidly go the planetary solution for producing battery-grade graphite from mined earthy flake graphite and from secondary sources specified arsenic recycled lithium-ion batteries,” said Gillian Holcroft, CEO and co-founder of Green Graphite.

Meaghan Seagrave, enforcement manager of Bioindustrial Innovation Canada, said: “In bid for Canada to execute its emissions targets, it volition request to proceed to enactment and standard early-stage caller technologies similar Green Graphite’s.”

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Seagrave noted that arsenic Canada’s lone greenish chemistry accelerator, Bioindustrial Innovation Canada, done its Sustainable Chemistry Alliance Investment Fund, is focused connected identifying, validating, and investing successful technologies that volition let Canadian and planetary industries to decarbonize portion positioning Canada arsenic a person successful cleanable exertion development.

“Thanks to this important concern support, Green Graphite volition go instrumental successful supporting Canada’s lithium-ion manufacture portion reducing its reliance connected unsafe and environmentally damaging overseas sourced materials,” she added.

Green Graphite’s exertion improvement roadmap has precocious rapidly since the company’s instauration successful August 2021. In September 2022, Green Graphite announced that it received a $1.1-million assistance from the national bureau Sustainable Development Technology Canada (SDTC) to beforehand the improvement of its GraphPureTM exertion to alteration NFG into battery-grade graphite.

Earlier this year, Green Graphite received a $500,000 assistance from the provincially funded PRIMA Quebec for piloting its exertion that transforms spent graphite from lithium ion artillery recycling operations into artillery people graphite. The institution said it plans to usage these funds to assistance grow Green Graphite’s halfway squad and enactment standard up efforts for its technology.

RELATED: BDC launches $150-million Sustainability Fund successful revamp of Industrial, Clean and Energy Technology Venture Fund

Graphite miners and artillery recyclers volition person the enactment of adopting a graphite purification exertion that volition alteration our nine to conscionable the ever-increasing demands for lithium-ion powered vehicles, according to Green Graphite. The startup contends that with the occurrence of this project, Canada volition beryllium seen arsenic a person successful outgo effectual and cleanable exertion that yet eliminates the request for planetary lithium-ion producers to root graphite exclusively from China, presently the lone subordinate successful this market.

“Green Graphite Technologies developed a overmuch cleaner process to purify graphite, 1 of the cardinal components of lithium-ion batteries for electrical vehicles,” said Nicole Leite, principal, Climate Tech Fund astatine BDC Capital. “Solving this occupation is important to the vigor modulation and to helping Canada scope its nett zero objective.”

Leite said that the request for lithium-ion people graphite volition lone support increasing, with a projected planetary request of 2 cardinal tonnes per twelvemonth by 2030. “Our Climate Tech Fund was designed to alteration the standard up of this benignant of impactful, innovative technology, which volition pb to Canada’s aboriginal prosperity,” she said.

For Arolytics, information successful the circular besides came from the Accelerate Fund III managed by Yaletown Partners, Metiquity Ventures, Startup TNT, a Houston-Based strategical investor, and precocious secured authorities grants awarded from a assortment of national and provincial organizations.

RELATED: Canadian cleantech continues fundraising streak arsenic Orennia, CarbonCure rise corporate $105 cardinal USD

In April, BDC Capital launched the $150-million CAD task money focused connected helping Canada conscionable its sustainability and clime targets.

The caller funds volition alteration Arolytics to standard quickly, with a absorption connected continued merchandise innovation and marketplace introduction into the United States. As well, the startup plans to grow its squad successful bid to code lawsuit needs successful what it says is simply a time-sensitive market.

Since Arolytics’ past raise, the squad has much than tripled successful size, expanded income to the US portion improving the automation and standard of its product.

Arolytics was founded successful 2018 by a squad of methane experts who person leveraged their years of acquisition successful methane probe to supply solutions for optimizing methane strategies for the lipid and state sector. The startup claims its level is designed to let vigor companies to summation invaluable insights into methane measurement data, starring to faster emissions reductions astatine little costs.

Feature representation courtesy BDC.

The station BDC Capital deploys effect backing to assistance trim greenhouse state emissions archetypal appeared connected BetaKit.