BDC Leads $50M Investment Round for Calgary-Based Lithium Agency

A new fund launched in November through the Business Development Bank of Canada to help foster the growth of local climate technology has made its biggest

The Crown organization's investment arm, BDC Capital, along with Vancouver-based Evok Innovations, currently co-led an A2 chain financing round that raised $50 million

The company, which has developed a proprietary lithium extraction era that it says uses far less water and chemicals and produces fewer emissions than conventional

While the BDC did not disclose the exact amount it invested (the total $50 million raised through Summit Nanotech sheltered other investors,

Capricorn, as well as a consortium of climate-focused funds), showed that his investment became the largest so far. in its $400 million Weather Tech Fund II

The fund, announced in November 2022, seeks to address the death of venture capital for the commercialization and scaling of the Canadian softtech and climate 

It follows where BDC's first $600 million climate technology fund, which launched in 2018 and is now fully dedicated, stopped seeking technology investments

That technology encompasses things like lithium, a key component in making batteries for electric vehicles, as well as other promising technologies including hydrogen

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