'Changing the narrative': Cleantech Investment Summit returns
Companies offering products, services, or technology that reduce greenhouse gases have less than two weeks to apply for a spot at the second Cleantech Investment Summit, presented by Startup TNT and Foresight Canada.
"There's a lot of different sub-themes within cleantech," Zack Storms, co-founder of Startup TNT, told Taproot. It can include startups working in the traditional oil and gas sector or agriculture, as well as those working on alternative energy solutions or industrial processes to improve efficiency in mining, for example.
"We have (some of) Canada's largest oil and energy companies in Alberta — many of them are progressive and want to reduce their greenhouse gas emissions, and they make perfect pilot partners for a lot of cleantech companies," he said.
Storms hopes that the summit will contribute to changing the narrative in Alberta, especially for those who want to build a career in energy or technology with a more sustainable mindset.
The event already has 25 verbal commitments from investors who want to put in funds. Many of them have oil and gas expertise, which is valuable for companies in this space because they can make introductions within the industry, explained Storms. He added that the sector-specific summits tend to draw a different type of business, one that might find it more challenging to compete against companies that can scale quicker.
"These types of companies (in cleantech) generally have longer commercialization timelines, more capital-intensive technologies and business models, and added complexities of doing things like hardware or going through regulatory processes," he said.
The goal is to draw in between 30 and 40 applications, with a larger geographic footprint than the previous year. It is now open to companies in Alberta, Saskatchewan, and Manitoba.