Inventys Thermal Technologies, a Vancouver, BC-based carbontech company, raised US$5M in funding.
BDC’s Cleantech Practice made the investment. This brings total proceeds received under the Series C financing, which was led by OGCI Climate Investments, alongside existing investors The Roda Group and Chevron Technology Ventures, to US$16M out of a total round of US$21M.
Inventys is targeting a close of the final US$5M under the Series C round prior to June 30, 2019, in order to fully fund its corporate program through 2020.
The funds will be used to complete the company’s 30-tonne-per-day (TPD) CO₂ capture demonstration plant project with Husky Energy, currently in the final construction stages and due to begin operations in Q2-2019.
The partnership between Inventys and BDC’s Cleantech Practice will allow Inventys to reach its goal of commercializing an industrial-scale CO2 capture plant by the end of 2020.
Led by President and CEO Claude Letourneau, Inventys is a carbontech company building a CO₂ marketplace and enabling the mass market for bulk distributed CO₂ supply.