ArcTern Ventures

Arctern Ventures, founded in 2012 and based in Toronto, Canada, is a privately-backed venture capital fund that specializes in early-stage investments in the cleantech and energy sectors. The firm targets innovative technology startups that focus on areas such as clean energy, energy efficiency and storage, the circular economy, advanced manufacturing and materials, mobility, and food systems. Through its partnership with MaRS, one of the largest innovation centers globally, Arctern Ventures has developed a distinctive investment model that supports breakthrough ideas in these critical sectors. The firm also maintains regional offices in San Francisco and Oslo, further enhancing its investment reach and strategic partnerships.

Fariborz Fallah

Venture Partner

Marc Faucher

Managing Partner

Mira Inbar

Associate Partner

Louisa Liu

CFO

Murray McCaig

Co-Founder and Managing Partner

Ian Pinnington

Partner

Keegan Pinto

Associate

Tom Rand

Co-Founder and Partner

Rutendo Ruzvidzo

Associate

Nikhil Shukla

Principal

Shannon Whitaker

Associate

Past deals in CleanTech

Liminal

Series A in 2023
Liminal, formerly known as Feasible, Inc., specializes in battery analytics through its innovative EchoStat platform, which utilizes ultrasound waves to assess the physical properties of batteries. By sending ultrasonic pulses through a battery and analyzing the resulting echoes, Liminal can detect differentials within individual cells, across multiple cells, and even between production lines. This technology allows for real-time insights into the electrical, thermal, and mechanical conditions of battery components, making it particularly valuable for industries such as automotive, residential storage, grid storage, and consumer electronics. Founded in 2015 and headquartered in Emeryville, California, Liminal is positioned to enhance battery performance and reliability through its advanced screening and analytics capabilities.

Woltair

Series A in 2022
Digitisation of the heating installation process - from lead generation, through sales and installation, to after-sales support.

ev.energy

Series A in 2022
Our software manages EV charging, automatically optimizing for a greener, cheaper charge.

Carbon America

Series A in 2021
Carbon America transforms the carbon capture and sequestration (CCS) industry by lowering costs and rapidly increasing deployment. Carbon America is a carbon capture and sequestration developer. It is vertically integrated, nimble, and built to scale, with a multi-strategy approach to capture and sequester carbon dioxide faster, cheaper, and smarter than the competition. To achieve this, Carbon America has built a team combining world-class engineers, developers, and financiers into a vertically integrated CCS company.

Xeal

Series A in 2021
Xeal specializes in providing electric vehicle (EV) charging solutions tailored for apartments, condominiums, and workplaces. The company offers a comprehensive range of services, including the installation of charging stations and a cloud-based management system. Its mobile application enhances user experience by allowing individuals to locate, track, and reserve charging points, enabling convenient access to charging facilities from any location. This system not only facilitates user convenience but also allows property owners to generate passive income while contributing to reduced carbon emissions.

Clir Renewables

Series B in 2021
Clir Renewables Inc. specializes in developing cloud-based software for renewable energy asset management and reporting. Founded in 2016 and headquartered in Vancouver, Canada, with an office in Glasgow, United Kingdom, Clir's software-as-a-service platform aims to enhance the performance and profitability of renewable energy plants. By integrating advanced artificial intelligence with deep domain expertise, the platform assists asset managers and owners in optimizing annual energy production, monitoring asset health, and managing both financial and technical risks.

Palmetto

Series B in 2020
Palmetto is a clean technology company that specializes in building and operating solar energy projects for residential, commercial, and utility customers. Founded in 2009 and headquartered in Charleston, South Carolina, Palmetto designs and installs solar systems while providing a range of services, including customer support, financing, engineering, permitting, and installation. The company offers innovative software solutions such as Palmetto Home, which enables homeowners to monitor real-time energy consumption and solar production, and Palmetto Fleet, which provides energy monitoring insights for home management professionals. Additionally, Palmetto's Alchemy platform enhances the sales experience for solar professionals by streamlining the sales, design, and proposal processes. With additional offices in locations such as San Francisco, Sea Girt, Charlotte, Washington, and Greenville, Palmetto is committed to advancing clean energy technology and improving energy efficiency.

Span

Series A in 2020
Span.IO, Inc. is a San Francisco-based company that specializes in developing renewable energy products for residential use. Founded in 2018, it offers innovative solutions including a smart electrical panel designed to replace traditional panels, serving as a central hub for home energy management. The accompanying application, known as The Span, allows homeowners to monitor and control their energy usage remotely, facilitating scheduling and alert notifications. Span.IO aims to simplify the adoption of renewable energy and enhance user experience through intelligent hardware and software solutions. The company collaborates with installers, technology providers, and energy companies to reach homeowners and promote the integration of clean energy technologies.

Terramera

Series B in 2020
Terramera, Inc. is a Canadian company based in Vancouver, founded in 2009, that specializes in developing and manufacturing plant-based pesticides and fertilizers. The company utilizes green chemistry, machine learning, and artificial intelligence to create safer and more effective alternatives to synthetic chemical products. Its product line includes Proof, a solution for eliminating bed bugs and dust mites; Actigate, an organic pesticide; and Rango, a pest control and crop protection product. Terramera's mission is to harness technology to unlock the power of nature, promoting healthier living and making clean food more accessible. The company aims to cultivate safe environments and enhance agricultural practices by providing farmers and growers with sustainable solutions that improve yields while minimizing the use of toxic chemicals.

Clir Renewables

Series A in 2019
Clir Renewables Inc. specializes in developing cloud-based software for renewable energy asset management and reporting. Founded in 2016 and headquartered in Vancouver, Canada, with an office in Glasgow, United Kingdom, Clir's software-as-a-service platform aims to enhance the performance and profitability of renewable energy plants. By integrating advanced artificial intelligence with deep domain expertise, the platform assists asset managers and owners in optimizing annual energy production, monitoring asset health, and managing both financial and technical risks.

Hydrostor

Venture Round in 2019
Hydrostor Inc. is a company based in Toronto, Canada, specializing in Advanced Compressed Air Energy Storage (A-CAES) technology that addresses the growing demand for reliable and sustainable electricity solutions. Founded in 2010, Hydrostor's innovative approach allows for the conversion of electrical energy into compressed air, which can be stored and later converted back into energy during peak demand periods. This technology is designed to facilitate the integration of renewable energy sources, optimize grid operations, and provide essential services such as dispatchable capacity and transmission deferral. Hydrostor's solutions are applicable in various contexts, including repurposing retired fossil fuel plants and serving large industrial operations and mining facilities. The company operates primarily in the United States, Australia, and Canada and collaborates with leading engineering and construction providers to deliver comprehensive energy storage solutions.

Parity

Series A in 2019
Parity is a software for buildings that automatically manages their energy and tracks their savings.

GreenMantra Technologies

Venture Round in 2018
Based in Brantford, Ontario, GreenMantra™ Technologies utilizes a proprietary thermo-catalytic system and patented process to cost-effectively convert and "up-cycle" waste plastics, including hard-to-recycle materials such as grocery bags and film, into high-value waxes and other specialty chemicals. These materials have a broad range of applications in the coatings, plastics processing, adhesives, roofing and paving industries.

GreenMantra Technologies

Venture Round in 2018
Based in Brantford, Ontario, GreenMantra™ Technologies utilizes a proprietary thermo-catalytic system and patented process to cost-effectively convert and "up-cycle" waste plastics, including hard-to-recycle materials such as grocery bags and film, into high-value waxes and other specialty chemicals. These materials have a broad range of applications in the coatings, plastics processing, adhesives, roofing and paving industries.

Hydrostor

Series B in 2016
Hydrostor Inc. is a company based in Toronto, Canada, specializing in Advanced Compressed Air Energy Storage (A-CAES) technology that addresses the growing demand for reliable and sustainable electricity solutions. Founded in 2010, Hydrostor's innovative approach allows for the conversion of electrical energy into compressed air, which can be stored and later converted back into energy during peak demand periods. This technology is designed to facilitate the integration of renewable energy sources, optimize grid operations, and provide essential services such as dispatchable capacity and transmission deferral. Hydrostor's solutions are applicable in various contexts, including repurposing retired fossil fuel plants and serving large industrial operations and mining facilities. The company operates primarily in the United States, Australia, and Canada and collaborates with leading engineering and construction providers to deliver comprehensive energy storage solutions.

Morgan Solar

Series C in 2016
Morgan Solar Inc began with a mission in 2007 – to develop highly efficient, low cost solar technology. Until now, all the real advancements in solar power always seem to be “10 years away”. John Paul Morgan, a Physics Engineer, with a background in optics, medical imaging and photovoltaics, developed an idea to make solar energy more affordable. His idea was to design an optical concentration system that would elegantly solve many of the problems of existing CPV systems. There first product to market, the Sun Simba HCPV, is designed for solar farm applications. Demonstration and test installations will begin in 2009, and our first commercial systems will be available in early 2010. The second set of products, the Sun Stream Window and the Sun Block Panel, are designed for building applications and smaller scale demonstration and test systems are also scheduled for 2009, with sales begining sometime after mid 2010.

GreenMantra Technologies

Series C in 2016
Based in Brantford, Ontario, GreenMantra™ Technologies utilizes a proprietary thermo-catalytic system and patented process to cost-effectively convert and "up-cycle" waste plastics, including hard-to-recycle materials such as grocery bags and film, into high-value waxes and other specialty chemicals. These materials have a broad range of applications in the coatings, plastics processing, adhesives, roofing and paving industries.

CircuitMeter

Debt Financing in 2016
CircuitMeter has developed groundbreaking electrical energy submetering hardware, integrated with Big Data and cloud based CircuitMonitoring™ enterprise software. The advanced energy analytics represents a major step forward in comparison with current practice and is designed to analyze real time, circuit level energy usage for large organizations and portfolio managers. CircuitMeter’s software can identify unnecessary and inefficient equipment usage at the circuit level, enabling users to better manage their consumption and reduce costs. Real time notifications are included to facilitate precision maintenance, alerting staff by email when benchmarks are exceeded, or power drops to levels indicative of an operating problem.

GreenMantra Technologies

Venture Round in 2014
Based in Brantford, Ontario, GreenMantra™ Technologies utilizes a proprietary thermo-catalytic system and patented process to cost-effectively convert and "up-cycle" waste plastics, including hard-to-recycle materials such as grocery bags and film, into high-value waxes and other specialty chemicals. These materials have a broad range of applications in the coatings, plastics processing, adhesives, roofing and paving industries.

Smart Energy Instruments

Series A in 2014
Smart Energy Instruments Inc. specializes in measurement technologies aimed at monitoring, protecting, and controlling electrical grid distribution networks and other industrial IoT infrastructures. The company offers advanced chipsets, including the SGS1010D multicore DSP/CPU processor and the SGS1010A with delta-sigma modulators, achieving high-resolution measurements. Additionally, it provides software tools such as a development kit for firmware applications, enabling users to configure, control, and create customized solutions using its chipsets. Smart Energy Instruments also supplies reference platforms for various applications, including power quality monitors, protection relays, and distribution automation controls. Its solutions cater to smart cities and smart grid applications, addressing contemporary energy and environmental challenges. Established in 2004 and headquartered in Oakville, Canada, the company also has a presence in Los Altos, California.

Hydrostor

Venture Round in 2013
Hydrostor Inc. is a company based in Toronto, Canada, specializing in Advanced Compressed Air Energy Storage (A-CAES) technology that addresses the growing demand for reliable and sustainable electricity solutions. Founded in 2010, Hydrostor's innovative approach allows for the conversion of electrical energy into compressed air, which can be stored and later converted back into energy during peak demand periods. This technology is designed to facilitate the integration of renewable energy sources, optimize grid operations, and provide essential services such as dispatchable capacity and transmission deferral. Hydrostor's solutions are applicable in various contexts, including repurposing retired fossil fuel plants and serving large industrial operations and mining facilities. The company operates primarily in the United States, Australia, and Canada and collaborates with leading engineering and construction providers to deliver comprehensive energy storage solutions.

Smart Energy Instruments

Venture Round in 2012
Smart Energy Instruments Inc. specializes in measurement technologies aimed at monitoring, protecting, and controlling electrical grid distribution networks and other industrial IoT infrastructures. The company offers advanced chipsets, including the SGS1010D multicore DSP/CPU processor and the SGS1010A with delta-sigma modulators, achieving high-resolution measurements. Additionally, it provides software tools such as a development kit for firmware applications, enabling users to configure, control, and create customized solutions using its chipsets. Smart Energy Instruments also supplies reference platforms for various applications, including power quality monitors, protection relays, and distribution automation controls. Its solutions cater to smart cities and smart grid applications, addressing contemporary energy and environmental challenges. Established in 2004 and headquartered in Oakville, Canada, the company also has a presence in Los Altos, California.
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