Business in Vancouver
Published: October 9th, 2023
What do Atlas Power, HTEC, Invinity Energy Systems, and Takachar have in common?
To anyone following B.C.’s tech scene, the answer may seem obvious: All four are rising stars in the province’s clean energy sector. But dig a little deeper, and another similarity emerges: They’re all recent recipients of the kind of dynamic non-dilutive funding that is vital in this fast-growing and globally competitive industry.
Dynamic non-dilutive funding is vital in the fast-growing and globally competitive industry of cleantech. Clean energy companies have an increased difficulty in raising funds compared to other industries because of their deferring goals: balancing business success with an altruistic benefit – combating climate change. Attaining such an objective often demands prolonged and thorough research and development. However, traditional funding methods through venture capitalists and angel investors risk diluting the cleantech company’s equity to achieve rapid returns and may cause the company’s focus to shift from innovation to reaching profitability as soon as possible.
“As Canada grapples with the global climate crisis, we cannot afford to waste the commercial, societal and environmental potential of our home-grown clean energy solutions. So long as we continue to provide non-dilutive capital at the intersection of breakthrough and real-word implementation, I have every confidence that this forward-thinking approach will be rewarded in ways that are on, and beyond, the cutting edge.”Todd Sayers, Chief Operating Officer at the B.C. Centre for Innovation and Clean Energy (CICE)