Led · Convertible Note · Oct 2024

Island Water Technologies develops off-grid water- and wastewater-treatment systems and a bio-electrode sensor for real-time biological monitoring. The company currently sells two products: Regen, a solar-powered system sized for remote facilities of about 75–250 people, and ClearPod, an efficient septic system for individual households. Regen has three installations to date, and ClearPod is selling in Canada as well as China, Honduras and Kenya, though volumes are below the founders’ targets. IWT has spent about 4.5 years developing its Sentry bio-electrode sensor, which resides in treatment systems and streams biology data to computers and mobile devices. The recent financing will be used to commercialize Sentry and to validate technical milestones over the next 12 months. IWT was accepted into the San Francisco-based Imagine H2O accelerator and plans to use the program to deepen corporate relationships and work toward a Series A. Island Water Technologies develops renewably powered wastewater treatment solutions for remote populations. Its core product is REGEN, a mobile solar-powered, modular wastewater treatment system with low energy requirements that can be completely powered by renewable energy. The company plans to commercialize REGEN using the $250k venture capital investment from Innovacorp. REGEN systems can be remotely monitored in real time for maintenance and compliance and are targeted at military bases, disaster relief operations, mining camps and off-grid communities. IWT has also developed ClearPod, a drop-in device to speed up bio-treatment of septic tanks, and Sentry, a microbe-based sensor that reports biological-process status to the cloud. R&D is conducted in partnership with Dalhousie University, and the company graduated from Ecofuel, an accelerator run by Cycle Capital. The company is led by co-founder and CEO Patrick Kiely.

Participated · Equity · Mar 2024

Opalia cultivates mammary cells in bioreactors to produce complete milk—including proteins, fats, and sugars—intended as a drop-in replacement for conventional fluid or powdered milk. The company positions its approach as distinct from precision fermentation by producing whole milk rather than single milk proteins. Opalia targets the global dairy market through a B2B licensing and supply model rather than direct-to-consumer sales. It has signed paid commercial pilot agreements with established dairy players, including Hoogwegt and the Canadian division of a major dairy group, with partnerships across five countries on three continents. Opalia plans to scale a modular bioreactor system using proceeds from the CAD 3.2M seed round and aims for a commercial launch in 2028 while pursuing regulatory approvals in North America, Europe, and Asia.

Participated · Seed · Aug 2018

Chinova Bioworks has developed Chiber™, a natural preservative extracted from upcycled white button mushroom stems that is vegan, Kosher, Halal and allergen-free. The ingredient is positioned for food and beverage brands seeking clean-label alternatives to artificial preservatives, improving quality, freshness and shelf life while reducing food waste. Chinova sources mushroom stems that would otherwise be discarded and transforms them into a commercially viable preservative through its R&D capabilities. The company plans to use new funding to build its team, launch new products, and expand production capabilities on Prince Edward Island with a formal opening planned later this summer. Chinova notes substantial growth during the COVID-19 period as demand for food safety and health-focused products rises. The company also highlights a team that is 90% women in STEM and strong technical and testing capabilities that support customer adoption. Chinova Bioworks is a Canadian company that has developed a natural preservative called Chiber, extracted from the stems of white button mushrooms, for use in food and beverage products. Chiber is positioned as a clean-label alternative that decreases reliance on artificial ingredients while improving freshness and shelf life to help reduce food waste. With approval of a $1.5M contribution from Sustainable Development Technology Canada (SDTC), Chinova will expand into a new pilot production facility to upcycle mushroom waste into a commercially sustainable preservation ingredient. The expansion will be undertaken with partners PEI BioAlliance and DSM. The company states that each kilogram of Chiber sold reduces emissions equivalent to charging 5,474 cell phones or driving 182 kilometers. Chinova has raised $10M in investment to date and reports a team that is 90% women in STEM; the company is based in Fredericton, New Brunswick. Chinova Bioworks has developed a natural preservative for food and beverages based on chitosan extracted from mushrooms and proprietary fractionation technology. Their process produces chitosan molecules with characteristics intended to match the effectiveness of synthetic preservatives while remaining fully natural. The product can deliver broad-spectrum protection against bacteria, yeast and mold or be customized to target specific spoilage microorganisms. Chinova has validated its preservative with several leading food companies and will use new funding to scale production to meet demand. The company is based in New Brunswick, Canada, was founded in April 2016, and previously raised a pre-seed from the New Brunswick Innovation Foundation, SOSV, and the First Angel Network. Planned uses of the seed funding include scaling production capacity and hiring a senior process control engineer as the first major new hire.