B.C. Centre for Innovation and Clean Energy (CICE)

The B.C. Centre for Innovation and Clean Energy (CICE) hosted their annual CONVERGE conference today in Vancouver and it opened with a thought-provoking discussion on the future of climate technology and the financial and structural challenges that come with scaling solutions for a net-zero world.

Sarah Goodman, President and CEO of CICE, sat down with Jonah Goldman of Generate Capital for a wide-ranging conversation that included the inadequacy of traditional financing models, the critical importance of commercialization, and the need for robust collaboration between public and private sectors.

Jonah Goldman is the Head of External Affairs and Impact at Generate Capital, where he oversees communications, government engagement, and impact assessment and strategy.

Prior to joining Generate Capital, Goldman led Breakthrough Energy, a network founded by Bill Gates that includes investment funds, nonprofit and philanthropic programs, and policy efforts aimed at scaling technologies needed to achieve net-zero emissions by 2050.

“Green Premiums” and the Financing Gap

One of Goldman’s central points was the concept of the “green premium”—the additional cost often associated with adopting sustainable technologies over traditional ones. Goldman argued that these premiums are an unavoidable reality for many climate solutions, particularly in asset-heavy sectors such as steel, concrete, and hydrogen.

“Some of these technologies will never eliminate that premium,” he noted. “Most often, that premium will have to be absorbed by public payers or innovative market mechanisms. The question is: how do we create financing models that reflect this reality and still allow these technologies to scale?”

He emphasized that while philanthropic and impact capital can help address early-stage funding gaps, achieving global scalability requires mechanisms that integrate public subsidies, private investment, and consumer engagement.

The Importance of Commercialization and “Steel in the Ground”

Goldman stressed that many startups in the climate space overlook the importance of early commercialization strategies. He repeatedly referred to the necessity of getting “steel in the ground,” a term he used to signify tangible progress in building projects and infrastructure.

“Climate tech is not like software or biotech. It’s an asset-heavy, project-intensive business,” he said. “From day one, entrepreneurs need to think about project finance, customer relationships, and how their solutions will scale in the real world.”

For Goldman, the ability to demonstrate commercial viability early in a company’s lifecycle is critical to attracting both public and private investment. “Every company will face the moment when they realize they need to commercialize sooner than expected,” he warned. “Planning for that moment from the beginning is essential.”

A Call for Collaboration

Goldman also called for deeper collaboration between governments, investors, and entrepreneurs to address the unprecedented scale of the climate challenge. He pointed to the historical reliance of industries like fossil fuels on public capital and policy incentives as a model for how clean technologies can grow.

“The fossil fuel industry didn’t succeed in isolation,” Goldman said. “It’s absurd to think we can decarbonize the global economy without a similar alignment of public and private interests.”

He praised regions like British Columbia and the U.S. West Coast for their leadership in creating policy and funding environments conducive to innovation. However, he cautioned that more must be done to align capital with climate goals, particularly for technologies with long timelines and high upfront costs.

Optimism for the Future

Despite the challenges, Goldman expressed cautious optimism about the trajectory of climate technology. Reflecting on the progress since the Paris Agreement, he highlighted the increasing number of startups and established players bringing viable solutions to market.

“We’ve solved every problem as a species that has ever presented itself to us,” he said. “Maybe we can’t solve this one, but I think we should still bet on us.”

As the world grapples with the urgency of climate change, Goldman’s insights underscore the critical importance of integrating innovation, financing, and collaboration. For attendees at CICE’s Converge conference, his message was clear: tackling the climate crisis will require both bold thinking and a grounded, practical approach to building the future.

Women remain underrepresented in the cleantech industry globally.

In 2020, women made up approximately 30% of the clean energy workforce, highlighting a significant disparity as men comprised the remaining 70%.

Leadership roles in cleantech also reflect this gap, with only 19% of Canadian cleantech companies having at least one female founder, and a mere 10% of cleantech founders being women.

The funding landscape is similarly skewed, as globally, less than 3% of venture capital was invested in women-led companies.

These figures underscore the pressing need for initiatives that promote diversity and inclusion within the sector.

One of those initiatives is the B.C. Centre for Innovation and Clean Energy‘s (CICE) Women in Climate Tech Call for Innovation.

Empowering founders who identify as women can unlock the potential for groundbreaking technologies, drive decarbonization efforts, and generate significant economic value. As the world moves toward net-zero emissions, diverse leadership in climate tech will be critical in shaping the future of sustainable innovation.

As part of their mission to advance diversity and equity within the climate tech sector, CICE is investing up to $3 million in climate tech and clean energy ventures led by women.

“Climate change poses a serious threat but also presents a significant economic opportunity. Achieving success requires that everyone has a seat at the table, especially women founders who are currently underrepresented across the cleantech ecosystem,” shared Sarah Goodman, CEO of CICE.

“By ensuring diverse voices and collaborative efforts, we can develop innovative solutions and build the companies of tomorrow. CICE is committed to addressing this imbalance, recognizing that empowering women entrepreneurs is essential for a sustainable future.”

CICE’s Women in Climate Tech Call for Innovation is open and runs until December 3rd.

Empowering founders who identify as women can unlock the potential for groundbreaking technologies, drive decarbonization efforts, and generate significant economic value. As the world moves toward net-zero emissions, diverse leadership in climate tech will be critical in shaping the future of sustainable innovation. 

As part of their mission to advance diversity and equity within the climate tech sector, the B.C. Centre for Innovation and Clean Energy (CICE) is investing up to $3 million in climate tech and clean energy ventures led by women.

“Climate change poses a serious threat but also presents a significant economic opportunity. Achieving success requires that everyone has a seat at the table, especially women founders who are currently underrepresented across the cleantech ecosystem,” shared Sarah Goodman, CEO of CICE.

“By ensuring diverse voices and collaborative efforts, we can develop innovative solutions and build the companies of tomorrow. CICE is committed to addressing this imbalance, recognizing that empowering women entrepreneurs is essential for a sustainable future.”

CICE’s Women in Climate Tech Call for Innovation opens on November 5th and runs until December 3rd. Register now for their webinar on November 5th to learn more about this funding opportunity, including the need for this call, eligibility requirements, and ask our team any questions you may have.

Vancouver is set to host CONVERGE 2024, an event designed to unite leaders, innovators, and visionaries from British Columbia’s business and climate-focused communities. Held at the Vancouver Convention Centre, the gathering—organized by the B.C. Centre for Innovation and Clean Energy (CICE)—will focus on advancing the transition to a net-zero economy through collaboration and innovative solutions.

Scheduled for November 26, 2024, the event will feature interactive discussions on venture capital trends in climate tech, decarbonization strategies, and the crucial role of capital allocation in the shift to sustainable energy. Industry leaders will explore the challenges and opportunities associated with adopting new technologies to address climate change and build a sustainable future.

A highlight of the event will be the announcement of up to $10 million in funding for recipients from CICE’s July 2024 Call for Innovation. An additional $3 million will be awarded to solutions aimed at wildfire prevention, mitigation, and adaptation—underscoring the urgency of addressing the impacts of climate change on communities and ecosystems.

CONVERGE 2024 seeks to spark new ideas, forge partnerships, and catalyze collective action by bridging gaps between sectors. The event is expected to attract startups, climate tech investors, corporate leaders, and members of Canada’s clean energy community, all working towards building a climate-resilient economy.

With a focus on driving progress through collaboration, CONVERGE 2024 is poised to set the stage for continued innovation on the path to a net-zero future.

Nine companies have secured a total of $7.6 million from the B.C. Centre for Innovation and Clean Energy (CICE) to scale breakthrough innovation and lead the net-zero global economy.

Founded in October 2021, CICE is an independent, not-for-profit corporation that helps fund the commercial development and scaling of made-in-B.C. clean energy solutions — from Canada to the world.

The non-dilutive investments are being made through CICE’s first 2024 Call for Innovation, which attracted close to 200 applications from across the province.

“Congratulations to the nine inspiring companies awarded funding through CICE’s first 2024 Call for Innovation,” said Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation. 

“These projects are essential for British Columbia’s goals of building a clean economy and healthier environment with good-paying jobs for people and more economic opportunities for communities. We are proud to support CICE in nurturing innovation, generating employment, and ensuring long-term sustainability for our province.”

Funded recipients playing a critical role in meeting climate action and clean energy objectives include:

Battery and Energy Storage

Brokkr Mineral Resources is pioneering a first-of-its-kind, nature-based (bio)hydrometallurgical process for clean, low carbon extraction and purification of battery-grade nickel and cobalt.

Fuse Power Management is accelerating the vehicle-to-grid (V2G) ecosystem by delivering a fully functional and scalable V2G solution that will optimize efficiency to balance the electricity grid with electric buses, reducing carbon and particulate emissions.

Telescope Innovations is constructing a continuously operating lab-scale pilot for converting crude lithium chloride brines into battery-grade lithium carbonate, utilizing their carbon-negative and low-cost process, ReCRFT.

Carbon Management

Arca Climate Technologies a leader in carbon mineralization technology and a XPRIZE finalist, leverages historical mine waste to remove CO2 safely and permanently. And because it operates on the existing footprints of large-scale industrial operations, its pathway has gigatonne-scale potential, with an ultralight footprint.

CO280 Solutions is developing large-scale carbon dioxide removal (CDR) projects to permanently scale and increase affordability of carbon removal in the pulp and paper industry.

Low Carbon Bio and Synthetic Fuels

Hydron Energy is commercializing a disruptive solution that converts raw gases into clean refined fuel. CICE’s funding will deploy Hydron’s technology at the Wastewater Treatment Plant in Prince George, lowering emissions by upgrading biogas into renewable natural gas instead of flaring it.

Salish Environmental is developing a co-generation technology that utilizes construction, demolition, and forestry wood waste to produce heat and electricity to power greenhouses to help create year-round food security, turning a previously underutilized bioresource into an emissions reducing fuel.

Low Carbon Hydrogen

pH7 Technologies is commercializing an electrolyzer enabled extraction process to get more copper out of low-grade ores to keep up with growing market demand, while also producing clean hydrogen to lower mine emissions.

HPDI Technology is advancing a project, through a new joint venture between Westport Fuel Systems and Volvo Group, that aims to nearly double the range of hydrogen-HPDI equipped heavy duty trucks.

“With 13 companies featured on the 2024 Global Cleantech 100 list, Canada is already leading as an innovation nation,” said Sarah Goodman, CEO of CICE.

“British Columbia is home to many remarkable climate technology entrepreneurs who are spearheading this movement. CICE is proud to support the growth of these exceptional companies by validating actionable decarbonization pathways, unlocking access to capital, and accelerating the development and adoption of essential net-zero technologies.” 

Since October 2021, CICE has played a critical role in bridging collaboration between public and private sectors, and providing BC-based innovators faster, easier access to the early-stage funding and collaborative partnerships they need to be global leaders in climate action.

To date, CICE has invested $31 million in 47 clean energy and climate technology projects valued at over $170 million.