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The following companies in the MaRS Cleantech network are looking for financing during Fall 2018. If you would like to receive more information about a venture for the purpose of investing, please contact Alexandra Zakreski at azakreski@marsdd.com.


Aerialytic is increasing solar adoption by using AI and AR to provide homeowners with a visual representation of their home with custom solar panels and an assessment of the financial and environmental benefits from installing them.

Round: Seed
Amount: $1M
Use: Data costs to cover and service select jurisdictions, marketing costs, sales staff, technical staff, operational expenses (office), and founder salaries.
Website: www.aerialytic.com

AOMS Technologies

AOMS Technologies develops specialty fiber-optic sensors for harsh environments where conventional sensors fail or lose performance. Backed by over a decade of research and development, the company has invented a series of powerful technologies that change the landscape of sensing in applications where accurate, high-fidelity, and reliable measurement of data is paramount. Target customers include those in energy, environmental services, clean technology, structural health monitoring, automotive, aerospace, and defense.

Round: Series A
Amount: $2.5M
Use: Expanding sales team, marketing and PR, expanding management team, product development.
Website: www.aoms-tech.com


CircuitMeter has developed groundbreaking electrical energy submetering hardware, integrated with its Big Data and cloud-based CircuitMonitoring enterprise software. The company’s advanced energy analytics represent a major step forward compared to current practices. Its software can identify unnecessary and inefficient equipment usage at the circuit level, enabling users to better manage their consumption and reduce costs.

Round: Series A
Amount: $6M
Use: Funding of marketing and sales, buildup of operations group to support growth, continuation of Product Development program, further certification of the company’s submeters of tenant billing application in California and Canada.
Website: www.circuitmeter.com


EnPowered’s advanced market prediction tools — such as its personalized energy portal — deliver for clients by providing electricity at the lowest costs while controlling emissions output.

Round: Series A
Amount: Up to $15M
Use: After successfully launching in the Ontario market with enterprise customers, and becoming fully licensed in the United States, EnPowered is now looking for financing that will support expansion into deregulated U.S. and Canadian markets. This includes bolstering its development team.
Website: www.en-powered.com

Envio Systems

Envio has developed an end-to-end building management system capable of turning any existing commercial building into a smart building. Its intelligent controls can be easily and affordably integrated within any type of facility regardless of its size, age or sophistication level. Its low cost “Cube” controllers and energy conservation algorithms are able to provide unprecedented energy savings of 20% to 60% at a quarter the cost of comparable solutions, resulting in the shortest payback period in the industry.

Round: Series A
Amount: $5M
Use: Expand project management and sales teams, add key team members & support infrastructure, grow and optimize operations to fulfil the huge demand we are facing with diligence.
Website: www.enviosystems.com


As the global grid moves to higher levels of penetration of renewable energy, there will be rising demand for low-cost, long-duration energy storage. This is the market targeted by e-Zn, the first in the world to “metalize” electricity. The company’s zinc-based energy storage product is up to 80 per cent less costly than comparable lithium-ion systems for long-duration applications. Its energy storage system can cycle endlessly without degradation. It’s also fire resistant, made of fully recyclable materials, does not rely on precious metals, and has fast response time. Toronto-based e-Zn is currently targeting the off-grid market, with a focus on military bases, data centres, remote communities, island nations and EV charging stations.

Round: Series A
Amount: $4M
Use: To develop product demo system in late-2019, followed by deployment of in-field systems with commercial customers in 2020.
Website: www.e-zn.com

GreenMantra Recycling Technologies

GreenMantra uses proprietary catalytic technology to cost-effectively transform recycled plastics into high-value industrial products such as wax, grease, lubricating oil and fuels.

Round: Preferred Shares – Class A
Amount: $3-5M
Use: This funding is forecasted to be the last financing required for the company to expand its operations, and build a 4th and 5th reactor, with EBITDA ultimately to be ~$18 million after the 5th reactor comes online in 2021. The funding will be used for: increase in sales, marketing and applications to accelerate sales; general working capital including the salaries of key staff; increase production through equity required to complete Line 4 expansion project; completion of Polystyrene pilot project.
Website: www.greenmantra.com

Hot Pop Factory

Hot Pop Factory uses advanced software to connect users to its 3D printers, laser cutters and engravers, enabling them to instantly manufacture customized products and prototypes.

Round: Seed
Amount: $0.5M
Use: Hot Pop Factory is building an advanced, more efficient manufacturing platform for the architectural products industry. Its software automates custom manufacturing for architectural products focusing on large format CNC Routing, Laser Cutting and Waterjet Cutting. This market is enormous yet highly fragmented into thousands of small local manufacturers. These firms do not have the resources to invest in software development and R&D, making it a prime target for disruption. Funding will be used to hire additional software engineers and expand its market reach throughout Canada and the United States.
Website: www.hotpopfactory.com


Hydrostor is a leader in Advanced Compressed Air Energy Storage (A-CAES), a technology uniquely suited to help address electricity system needs for dispatchable capacity, renewable integration and optimization, transmission deferral, ancillary services and behind-the-meter or remote applications for mines and large industrial operations.

Round: Growth
Amount: $8.4M
Use: For supporting scale up and market expansion.
Website: www.hydrostor.ca

Metamaterial Technologies

Metamaterial Technologies is a smart materials and photonics company developing technology to block, absorb and enhance light. In conjunction with Airbus, Metamaterial is developing a vision-protecting optical filter for pilots and it is working with Lockheed Martin Canada to create a lightweight, high-efficiency solar film suitable for aviation uses.

Round: Series B
Amount: $10M (USD)
Use: Scaling operations, manufacturing and sales team. Key hires: CFO, CPO, Head of Manufacturing, Head of Sales.
Website: www.metamaterial.com


Noblegen is an advanced ingredients company that produces unique proteins, oils and flours. Using its proprietary approach, Noblegen grows high-quality ingredients from an ancient, natural superfood. With a purpose to positively impact people and the planet, Noblegen is redefining the future of nutrition.

Round: Series B
Amount: $30M ($23M USD)
Use: Commercialization of ingredients portfolio, operational expenses, ramp up production at existing production facility, equipment upgrades and new equipment at the production facility, marketing/branding initiative for ingredients.
Website: www.noblegen.com


Opalux is an advanced materials company manufacturing passport and banknote security features using tunable photonic crystal technologies, which are smart materials that change colour in response to applied stimuli. Opalux’s state-of-the-art security features are virtually impossible to counterfeit, easy to verify, protected by dozens of patents, and are in markets with stable, annual recurring revenue over 5 to 15 year contracts. Opalux has recently entered into a channel partnership with De La Rue, the largest security printer in the world.

Round: Series A
Amount: $3M
Use: Opalux has announced the launch of its passport security feature in partnership with De La Rue, the largest commercial security printer in the world. The funds will be used to scale up manufacturing and to accelerate sales.
Website: www.opalux.com

OTI Lumionics

OTI Lumionics is working on unlocking the full potential of organic light emitting diode (OLED) lighting and displays through innovative equipment, materials and process technology.

Round: Series B
Amount: $15M (USD)
Use: Scale-up and custom acquisition in new markets.
Website: www.otilumionics.com

Polar Sapphire

Polar Sapphire uses an innovative and environmentally friendly process that conserves energy and prevents waste to purify and manufacture aluminum oxide powder (alumina), used for manufacturing products such as LED substrates and lithium-ion battery separators.

Round: Series D
Amount: $10M
Use: Raising $10 million in equity and $10 million in debt and grants ($20 million total) to build a factory to produce high purity alumina.
Website: www.polarsapphire.com

Rewatt Power

ReWatt Power uses data to improve operations. The company’s end-to-end solution and ledger technology make the validation, verification and settlement of transactions fast, efficient and transparent.

Round: Seed
Amount: $1M
Use: Development, sales and business development, general & administrative expenses (predominately rent and equipment).
Website: www.rewattpower.com


SynerTrack’s mission is to provide clients with smart, simple solutions to meet the challenge of excess soil management. To this end, SynerTrack recently announced the development of its new automation product, SoilFLO. SynerTrack understands the costs and complexities in dealing with excess soil in an increasingly regulated environment and set about to find a cost-effective solution to address the situation.

Round: Seed
Amount: $250,000
Use: Software updates, conference sponsorship, marketing collateral, human resources, tutorials, advertising media.
Website: www.synertrack.com


DISCLAIMER: MaRS Cleantech disclaims any and all liability in the event any information supplied here proves to be inaccurate, incomplete or unreliable, or results in any investment or other losses. The information here is believed reliable, however MaRS does not guarantee the accuracy or completeness of such information. MaRS is a non-profit that does not collect fees from any capital raised by companies in our venture network.