CICE Invests $7.7 Million in 13 Climate Tech Companies | CICE
Summary
This investment supports early-stage companies developing innovative clean energy and climate solutions, with a focus on technologies that drive significant reductions in greenhouse gas emissions.This spring, CICE launched Canadas first-ever funding opportunity for wildfire technologies, committing up to $3 million to support companies developing groundbreaking solutions to better manage and mitigate the growing threat of wildfires.Wildfires are becoming more frequent and destructive, threatening communities, ecosystems, and the economy. and Canadas ability to respond to one of the most urgent climate-related challenges we face, while also paving the way to reduce carbon emissions from these devastating events.CICE is investing a total of $3.5 million in six of the 74 companies that applied for the 2024 Wildfire Tech Call for Innovation. Nova (Hummingbird Drones Inc.): Delivering real-time mapping with infrared scanning and machine learning, enabling fire teams to make swift, data-driven decisions. Unilia (Canada) Fuel Cells Inc.: Boosting hydrogen fuel cell efficiency, durability, and performance for zero-emission heavy-duty fuel cell electric vehicles to compete with diesel trucks.To date, CICE has invested $39 million in 59 clean energy and climate technology projects valued at over $196 million through its open and directed calls for innovation.Earlier this week, CICE launched a Call for Energy Storage Innovation in collaboration with BC Hydro, a $3 million funding opportunity to scale energy storage solutions and grid technologies to propel decarbonization and electrification in B.C., that can be replicated across jurisdictions to drive global climate impact. Together with our climate-first community of innovators, industry leaders, academia, government, and Indigenous partners, we advance future pathways to net-zero leveraging British Columbias clean energy advantages to attract investment, create good jobs and build sustainable economic prosperity for decades to come.