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Canadian Tech in 100 Words

Foresight Canada Names National Cleantech Finalists

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Foresight Canada has unveiled finalists for the inaugural Canadian Cleantech Awards, recognizing ventures, adopters, funders, and ecosystem leaders advancing net-zero and economic resilience.

Winners will be announced May 13 at the Climate Innovation Zone during Web Summit Vancouver, alongside partners NorthX Climate Tech, Innovate BC, Alacrity Canada, CRIN, and Simon Fraser University. Categories span Venture, Adopter, Funder, and Champion honors nationwide. Interim chief executive David Sanguinetti praised innovators’ national impact.

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Coalition Targets $100M for Carbon Removal

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Canada’s carbon removal sector received a boost with the launch of the Advance Carbon Removal Coalition (ACR), an initiative aimed at mobilizing $100 million for Canadian carbon dioxide removal projects by 2030.

Led by Carbon Removal Canada, the coalition brings together founding members including the Government of Canada, BMO, ClimeFi, NorthX, RBC, Shopify, and Vancity. Together, the organizations have already committed more than $75 million to the country’s emerging carbon removal ecosystem. ACR will focus on increasing demand for high-integrity carbon removal credits, helping projects secure financing and scale deployment. Supporters say stronger demand signals are essential for Canada to compete in the rapidly growing global carbon removal market.

Want to know more? Check out the source code on CleanEnergy.ca.

TD Tops Canada in Global Banking Brand Value

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TD Bank Group has again been named Canada’s most valuable banking brand, according to London-based consultancy Brand Finance. TD’s 2026 brand value climbed 28% to USD $22.3 billion, placing 14th globally. Royal Bank of Canada ranked 16th with USD $18.8 billion and was deemed strongest among Canadian customers.

Managing Director Alfred DuPuy cited resilient domestic franchises. CIBC, Scotiabank, and BMO completed the top five. Nine Canadian banks contributed USD $80.4 billion, fourth globally. RBC leads AI adoption nationally.

Want to know more? Check out the source code on Fintech.ca.

GeoComply Unveils Unified Identity Platform for Brazil

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Vancouver-based GeoComply has introduced a unified identity platform tailored to Brazil’s newly regulated iGaming sector, integrating know-your-customer verification, fraud detection, and geolocation compliance within a single system. The launch follows Brazil’s move to formalize its fast-expanding online betting market, bringing stricter identity and compliance obligations for operators.

Chief executive Kip Levin said the platform replaces fragmented vendor stacks with centralized infrastructure. Built around a managed KYC waterfall, the system enables CPF-based document-free registration while applying behavioural and device intelligence. Member BC Tech Association says innovation strengthens provincial industry competitiveness.

Want to know more? Check out the source code on Techcouver.com.

Bank of Canada Signals Open Banking Delays

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Bank of Canada signalled further uncertainty around the rollout of open banking, with payments head Ron Morrow cautioning that timelines remain unclear. Speaking in Toronto, Morrow said officials are still compiling requirements before setting a launch date, making a 2026 debut doubtful.

Canada’s framework will mandate standardized data sharing at customer request and replace screen scraping practices Ottawa plans to ban. Oversight recently shifted from Financial Consumer Agency of Canada. The government pledged reforms under Prime Minister Mark Carney. Despite budget reductions, the central bank expressed confidence.

Want to know more? Check out the source code on The Logic.

New Canadian Data Centre Network Debuts

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InfraRed Capital Partners has launched Qu Data Centres, a new Canadian digital infrastructure platform operating nine facilities across Calgary, Edmonton, London, Ottawa, and Toronto.

The platform offers up to 49 megawatts of capacity and serves more than 750 customers, including enterprise, government, cloud, and AI clients. The facilities were acquired from Rogers Communications, which will continue selling data centre services and providing network connectivity into the sites. InfraRed says Qu is designed to deliver secure, sovereign infrastructure as demand grows for Canadian-hosted data and AI compute.The company will offer colocation, cloud, and connectivity services while pursuing expansion opportunities across Canada.

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TELUS Backs Space-Based Mobile Coverage

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TELUS has signed a commercial agreement with AST SpaceMobile to bring satellite-based cellular service to remote regions across Canada. The partnership will combine TELUS’ wireless network with AST SpaceMobile’s Low Earth orbit satellite constellation, enabling smartphones to connect directly to space-based “cell towers.” The service, expected to launch in late 2026, will allow customers to send texts, make calls, and access data in areas without traditional cellular coverage.

TELUS will invest in ground infrastructure and take an equity stake in AST SpaceMobile as part of the agreement. The technology aims to extend connectivity to rural communities, backcountry regions, and remote work sites across Canada.

Want to know more? Check out the source code on Techcouver.com.

Legal AI Leader Raises Acquisition Capital

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Toronto-based Spellbook has secured USD $40 million in debt financing from RBCx to support acquisitions and platform expansion as consolidation accelerates across the legal AI sector.

The company, which develops an AI copilot for contract drafting, previously raised a $50 million Series B round earlier this year that valued the business at $350 million. Spellbook now serves nearly 4,000 law firms and legal teams across 80 countries, including Nestlé, eBay, and Kennedys. The new facility will allow Spellbook to pursue strategic acquisitions and strengthen its data-driven infrastructure as demand grows for AI-powered legal tools.

Want to know more? Check out the source code on LegalTech.ca.

Carbon Capture Leader Expands Storage Capability

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Vancouver’s Svante Technologies is acquiring Calgary startup Carbon Alpha, strengthening its capabilities across the carbon capture and storage value chain.

Carbon Alpha has been developing the North Star Bioenergy Carbon Capture and Storage project in partnership with the Meadow Lake Tribal Council in Saskatchewan. The initiative will add carbon capture to the MLTC Bioenergy Centre and transport captured CO₂ via pipeline to permanent geological storage near Meadow Lake. Svante says the acquisition expands its expertise in geological storage while advancing plans to deliver high-integrity carbon removal credits at commercial scale. The next phase of the project will involve a front-end engineering and design study.

Want to know more? Check out the source code on CleanEnergy.ca.

Canadian Subsea Firm Expands Defence Reach

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St. John’s-based marine technology company Kraken Robotics has agreed to acquire UK-based Covelya Group for $615 million, expanding its presence in subsea technology and the growing defence market.

The deal will combine Kraken’s underwater robotics, sensors, and batteries with Covelya’s portfolio of navigation, positioning, and imaging technologies used in maritime defence and commercial operations. Covelya’s subsidiaries include Sonardyne, EIVA, and Wavefront Systems. Once completed in the second quarter of 2026, the combined company will employ roughly 1,200 people and operate more than 450,000 square feet of production space worldwide. Kraken will remain headquartered in Canada and led by its existing management team.

Want to know more? Check out the source code on BetaKit.