Canadian cleantech companies are making significant strides in fundraising, with a particular focus on geothermal energy, carbon capture, and utility-scale solar.

This surge in investments, totaling approximately a billion USD, is propelling Canada to the forefront of the global renewable energy sector, despite the country comprising only 0.5 percent of the world’s population. Currently ranking fifth globally in cleantech investments, Canada’s commitment to a clean economy is evident, solidifying its position as a leading advocate for a sustainable future.

Among the standout Canadian cleantech companies is Eavor, which is actively reshaping the geothermal sector by addressing the risks and limitations associated with traditional geothermal energy extraction. Recently securing a substantial $182 million in Series B financing, Eavor is now positioned as a frontrunner in scalable geothermal energy solutions.

The Eavor-Loop™ distinguishes itself by utilizing a closed-loop system to establish a continuous subsurface heat exchanger. This innovative approach marks a transformative development in geothermal energy, offering a conduction-based system that ensures a consistent and resilient source of clean energy.

The substantial investment in Eavor is poised to make geothermal energy accessible, scalable, and cost-effective on a global scale. As a result, Eavor is emerging as a key player in the renewable energy landscape, contributing to Canada’s growing reputation as a global leader in cleantech innovation.

In 2023 Canadian Climate Tech companies have raised nearly a billion USD. Let’s take a look at 6 #CleanTech companies and their important work:

Eavor Technologies Inc. led by John Redfern

CarbonCure Technologies led by Robert Niven

OYA Renewables led by Manish Nayar

Cyclic Materials led by Ahmad Ghahreman

Orennia led by Brook Papau

Novisto led by Charles Assaf