- 5 years ago

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MaRS announced yesterday that three of their cleantech clients have secured angel funding after participating in the MaRS angel program.

GreenMantra Recycling Technologies, Smart Energy Instruments and Temporal Power all closed private placements with angel investors after participating in one of MaRS’ most recent cleantech angel events—events designed to bring well-prepared start-ups and accredited angel investors together in a forum that works for both.

Each of the three companies that received funding has the potential to solve a pressing problem in Ontario’s cleantech landscape, from recycling plastic waste into high value end products  to effectively monitoring the smart grid.

  • GreenMantra Recycling Technologies has developed a proprietary technology that enables the cost effective production of commercial quality synthetic waxes from plastic wastes. Its environmentally sustainable process produces a wide range of commercial quality waxes well suited for polishes, paints and inks, greases and rubber products such as tires.
  • Smart Energy Instruments’ next generation technology measures power flows—a key missing component of the smart grid. Using SEI’s technology, utilities and grid operators will be able to better identify choke points, anticipate problems and have significantly improved visibility of their power assets.
  • Temporal Power is a developer of electricity storage systems using a proprietary breakthrough flywheel technology. Temporal Power works with electrical utilities to deliver solutions to a range of challenges, including integrating renewable power.

Since 2009, MaRS has put 30 cleantech, life sciences and health care and information technology, communications and entertainment companies in front of angel investors through the MaRS angel program. More than 50 per cent have received funding.