At the IEA’s 2025 Energy Innovation Forum today, NorthX Climate Tech announced $3.4 million in new investments for four Canadian carbon removal ventures—CarbonRun, Skyrenu Technologies, NULIFE Greentech, and pHathom Technologies—joined by Minister of Energy and Natural Resources Tim Hodgson.
Meanwhile, one of NorthX’s earliest carbon removal investments, Arca Climate, announced a major milestone: a 10-year offtake agreement with Microsoft for nearly 300,000 tonnes of durable carbon removal. The deal underscores the global competitiveness of Canadian innovators and validates NorthX’s early-stage investment strategy.
“The next generation of clean growth will be built by Canada’s world-class innovation ecosystem,” said The Honourable Tim Hodgson, Minister of Energy and Natural Resources. “By backing Canadian companies at critical early stages, NorthX is helping turn Canadian ingenuity into global leadership—showing how strategic public investment can unlock private capital, create good jobs, and position Canada at the forefront of the low-carbon economy.”
Canada now ranks among the world’s leaders in carbon dioxide removal (CDR), with two NorthX-backed ventures—Arca and CO280, a Vancouver-based project developer working with North American pulp and paper mills—among the global top ten for engineered CDR offtake agreements.
“NorthX exists to turn Canada’s climate ambition into jobs, technology, and industries that didn’t exist a few years ago—today’s announcements show that vision in action,” said Sarah Goodman, President and CEO of NorthX. “Arca’s landmark offtake agreement is a defining moment for a company we backed early, and our four new investments mark the next wave of carbon removal innovators. Together, they show that Canada is out front in an emerging industry that’s beginning to scale globally.”
Investing in CDR at Scale
Through its Call for CDR Innovation, NorthX is accelerating Canada’s momentum in carbon removal by investing $3.4 million in four ventures advancing diverse approaches, including direct air capture, enhanced mineralization, aquatic carbon sequestration, and biomass conversion. Each company was selected for its potential to scale, deliver permanent carbon removal, and strengthen Canada’s domestic CDR industry.
- CarbonRun (Dartmouth, NS): Transforms hydroelectric facilities into active engines of river restoration and carbon sequestration by enhancing alkalinity and improving aquatic ecosystems.
- Skyrenu Technologies (Sherbrooke, QC): Develops a reactor-less, modular direct air capture system tested across Canadian climates to turn captured CO₂ into carbon-negative concrete.
- NULIFE Greentech (Saskatoon, SK): Uses hydrothermal liquefaction to transform waste biomass and agricultural residues into bio-oil for underground storage, reducing waste management costs.
- pHathom Technologies (Halifax, NS): Converts captured CO₂ from biomass into stable bicarbonates for safe ocean sequestration without disrupting marine pH balance.
With these latest investments, NorthX has now deployed $45 million across 72 projects, helping create over 870 jobs and attract $477 million in follow-on investment—fueling Canada’s growing clean technology economy.