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Canadian Tech in 100 Words

 

Canada Invests $9.14 Million in Clean Hydrogen Innovation

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Canada’s Minister of Energy and Natural Resources, Jonathan Wilkinson, announced a $9.14 million investment in six projects to bolster the country’s clean hydrogen sector. The funding includes $2.74 million through the Energy Innovation Program, supporting projects like the University of British Columbia’s pilot plant for low-cost hydrogen production and Enbridge’s Markham Virtual Hydrogen Hybrid Demonstration in Ontario.

Additionally, $6.4 million from the Clean Fuels Fund will support hydrogen blending studies by Enbridge in Ontario and Trans Québec & Maritimes Pipeline in Quebec. These initiatives aim to position Canada as a global leader in clean energy innovation.

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

Government Invests Major Money into Canadian Carbon Capture Upstart Svante

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Burnaby’s Svante has secured an investment of up to $137 million from the Canada Growth Fund to accelerate the company’s development and construction of commercial-scale carbon capture and removal projects. The clean tech company manufactures filters and carbon capture machines for heavy-emitting industries such as cement, steel, hydrogen, and oil and gas. The government says the investment will ensure local intellectual property remains Canadian-owned (Svante owns over 120 global patents).

“By investing in cutting-edge Canadian innovators, we are decarbonizing industries and making energy more affordable, while reducing emissions and creating good-paying jobs,” stated federal finance minister Chrystia Freeland.

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

In Canada, Investors ‘Continue to Navigate the Environment Cautiously’: Report

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Venture capital investments in Canada in the first half of 2024 reached $3.6 billion across 279 deals, uplifted by a major boost of dollars invested in Q2, a CVCA report finds. Despite this, overall deal volume sits at its lowest since 2020. Seed investments have particularly struggled, raising concerns about Canada’s future pipeline.

“The second quarter of 2024 continued the momentum we saw earlier in the year,” stated CVCA CEO Kim Furlong. “This performance is driven by investors doubling down on companies with proven track records and strong fundamentals, as they continue to navigate the environment cautiously.”

Want to know more? Check out the source code here.

New Zealand’s Xero Unveils Upgraded Fintech Stack for Clients in Canada

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Fintech Xero continues to upgrade its offerings in Canada. At Xerocon Nashville this week, the New Zealand firm unveiled a “huge number of improvements … to make things easier for small businesses and their advisors.” For example, Xero has “heavily invested” in an enhanced bank feed experience, with plans to add hundreds more direct feeds over the next year. Other enhancements are on the docket, including improved bank feed monitoring and a new client insights dashboard.

“These announcements underscore Xero’s dedication to addressing the specific needs of our customers in the US and Canada,” a chief executive stated. “We’re excited about the future in the US and Canada.”

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

Canada Invests Further into CanCode as Upskill Program Launches Fourth Phase

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The Government of Canada is investing $39 million toward teaching digital skills to young Canadians—and their teachers—to help ensure tomorrow’s talent will be ready for tomorrow’s tech roles. The investment is into CanCode, a program designed to complement educational curricula by promoting awareness of, and sparking interest in, coding and other digital skills among Canadian youth.

Since its launch in 2017, CanCode has invested over $229M into organizations which have in turn helped over nine million students combined. This iteration of the program aims to offer learning opportunities to 1.5 million students and train 100,000 teachers to incorporate digital skills into their classrooms.

Want to learn more? Check out the source code on TechTalent.ca.

Canada’s Mining Output is Not on Par with the Nation’s Electric Vehicle Ambitions

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Canada’s production of nickel and copper has declined for four consecutive years, raising concerns as the country aims to aggressively boost critical mineral output to support its electric vehicle battery industry. Yet despite government goals to massively increase mining by 2035, S&P Global Market Intelligence found that mineral exploration budgets dropped by 9% last year.

Challenges include long timelines for mine development (18 years, above the global average) as well as global competition, particularly from Chinese-owned nickel companies. Industry leaders suggest streamlining the permitting process and aligning policies with U.S. incentives to overcome hurdles.

Want to know more? Check out the source code here.

Vancouver Taps Local Tech Firm to Enhance Water Management with AI Software

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Infinitii ai won a bid with the City of Vancouver. The Canadian firm, which offers environmental monitoring to water infrastructure utilities, will provide Vancouver with access to its “flowworks” data monitoring software. Currently, Vancouver has an archive of data from 200 flow and level monitoring locations, 38 combined sewer overflow monitoring locations, 14 rainfall monitoring locations, 23 water quality sampling locations, and two groundwater monitoring wells.

Since launching a decade ago in 2014, infinitii ai has evolved into a machine learning software firm that serves customers in major North American municipalities, including Toronto and Montreal in Canada. Last month, the company closed a private financing round led by ThreeD Capital.

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

Government Capital to Help Quebec Biotech Startup Qeen Commercialize Treatment

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The Government of Canada, through CED’s Regional Economic Growth through Innovation program, has provided $200,000 to Qeen Biotechnologies, a biomedical startup out of Quebec specializing in bacteriophage R&D and manufacturing. This funding will enhance the company’s production capacity and commercialization efforts, including equipment acquisition, facility improvements, and marketing activities.

“Helping businesses so they can bring an important technology to Canadians is a priority for our government,” minister Soraya Martinez Ferrada. “I am delighted with CED’s support for Qeen Biotechnologies, whose important work will translate into positive impacts in the Outaouais region and across the country.”

Want to know more? Check out the source code here.

Vancouver’s Scope AI Deploys Quantum-Resilient Data Security Technology

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Following its acquisition of QSE Technology from Ovryde, Scope AI has launched the QSE Quantum Gateway, a module designed to provide quantum-resilient data security across global networks. This innovation from the Canadian company aims to bridge the privacy and latency gap between institutional clients and their cloud infrastructure, enhancing scalability and security.

“When we first envisioned the QSE Product Suite, our goal was to create something that would not only meet the needs of today’s businesses and their security expectations but also anticipate the challenges of tomorrow,” stated founder Sean Prescott. “Seeing it come to life on a global scale is incredibly fulfilling, and it strengthens our commitment to continue innovating and pushing boundaries for our customers.”

Want to know more? Check out the source code here.

Cleantech Upstart Nu:ionic Technologies Garners Funding for Electrified Solutions

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The Government of Canada is investing to help a clean technology company headquartered in New Brunswick grow and expand operations. Fredericton’s Nu:ionic Technologies received capital toward hiring expertise to oversee the critical testing phase of cutting-edge, commercial-scale technology designed to eliminate the need for combustion by replacing that process with clean electricity.

“At Nu:ionic Technologies we are developing electrified solutions for industries to achieve their decarbonization goals at an accelerated pace,” stated Ben Kennedy, Sr. Vice President of Operations for Nu:ionic Technologies. “We are commercializing novel applications for industrial microwave and commercializing smart and efficient zero-emission process heaters like Nu-Xsm in our Fredericton Research and Innovation Centre.”

Want to know more? Check out the source code here.