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BDC leads US$50M funding round for Calgary-based lithium company - BNN Bloomberg

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A new fund launched in November by the Business Development Bank of Canada to help foster the growth of homegrown climate technology has made its largest investment yet.

A new fund launched in November by the Business Development Bank of Canada to help foster the growth of homegrown climate technology has made its largest investment yet.

While BDC did not disclose the exact amount it invested itself , it confirmed its investment was the largest yet from its $400-million Climate Tech Fund II. Those technologies include things like lithium — a key component in the manufacturing of electric vehicle batteries — as well as other promising technologies such as hydrogen, carbon capture and storage, low-carbon concrete and more.

"Most of these technologies, and the ones we focus on in particular, are hard tech/deep tech opportunities. So as a function of that, they take more money, and they take longer," Corbett said. "Ninety per cent of our employees are Canadian, our manufacturing is done in Canada, the technology is Canadian — so we wanted that Canadian recognition," Hall said.

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