The following companies in the MaRS Cleantech network are looking for financing during Q1 2018. If you would like to receive more information about a venture for the purpose of investing, please contact Alexandra Zakreski at

AOMS Technologies

AOMS Technologies develops specialty fiber-optic sensors for harsh environments where conventional sensors fail or lose performance. Backed by over a decade of research and development, the company has invented a series of powerful technologies that change the landscape of sensing in applications where accurate, high-fidelity, and reliable measurement of data is paramount. Target customers include those in energy, environmental services, clean technology, structural health monitoring, automotive, aerospace, and defense.

Round: Series A
Amount: $12M
Use: To expand into global markets for industrial asset monitoring including predictive monitoring of corrosion in industrial assets.


CircuitMeter has developed groundbreaking electrical energy submetering hardware, integrated with its Big Data and cloud-based CircuitMonitoring enterprise software. The company’s advanced energy analytics represent a major step forward compared to current practices Its software can identify unnecessary and inefficient equipment usage at the circuit level, enabling users to better manage their consumption and reduce costs.

Round: Series A
Amount: $5M USD
Use: To expand business development, marketing and sales.


Dropbike’s dockless and “smart” bike-sharing service has already launched in parts of Toronto, Montreal, and Kingston, and agreements with a number of U.S. cities are in the works. This spring Dropbike will launch in Kelowna, British Columbia, while a growing number of cities and smaller municipalities are considering dockless bike-share programs as a more convenient, less costly and flexible alternative to programs that rely on customers to pick up and drop off bikes at specific docking locations.

Round: Pre-Series A
Amount: $5M
Use: To expand into several new markets this spring, grow its team, and execute on existing contracts.


Enermotion’s Hybrid Power and Energy Recovery (HYPER) storage system is the world’s first mobile refrigeration and heating unit powered by waste exhaust heat, eliminating the energy-consuming diesel- and battery-powered auxiliary power units (APUs) currently used in heavy trucks to provide heating and cooling while trucks are at rest.

Round: Series B
Amount: $3M
Use: The company is presently negotiating separate agreements (manufacturing and sales) with two large multinational corporations and is aiming for full-scale volume production in the latter half of 2018. Funds are required to cover inventory and overhead costs until the 1,500 volume production level is achieved and positive EBITDA is reached in 2019.


Montreal-based GHGSat launched the world’s first high-resolution satellite in 2016 that can measure GHG emissions and other airborne pollutants from any industrial facility in the world. Its emissions monitoring services are more accurate and far less costly than comparable ground-based systems, making them an attractive option as carbon pricing (and mandatory reporting) is adopted in more countries around the world.

Round: Series A
Amount: $6M
Use: – To develop and launch a more advanced satellite in 2019 that will meeting growing demand and provide back-up support. Money raised will also be used to hire key sales staff and boost brand awareness in target sectors and regions.


GreenMantra turns waste plastics into specialty polymers. The high-value synthetic polymer additives, waxes, and other chemicals it produces can be used in a number of products, from asphalt roofing and roads to a variety of adhesives, inks and coatings. Last year, the company was awarded $2.2 million from Sustainable Development Technology Canada toward construction of a pilot plant that turns polystyrene into polymers used in inks.

Round: Late-stage equity round
Amount: $7M-$10M
Use: To fund the expansion of its existing commercial facility so the company can accommodate growing customer demand and bring itself to profitability.

Greyter Water Systems

Greyter offers smart water solutions that save both water and money by reducing the water demands of residential and commercial buildings by up to 35 per cent. The company’s packaged solutions recover and treat shower and bath water (i.e. grey water), as well as rainwater, so that they can be reused for toilet flushing, irrigation and other purposes. Greyter’s mission is to work with builders, developers, engineers, architects and municipal officials to create water-efficient communities.

Round: Series A
Amount: $2M
Use: To hire internal and outside sales staff, secure inventory of newly launched Greyter HOME product, and boost marketing, public relations and government relations efforts.


Indoor horticultural operations consume massive amounts of energy in Canada. Growers can typically cut this energy usage in half compared to industry standard HID lighting with Growratio’s proprietary LED lighting system and integrated orchestration software. After completing extremely successful trials earlier this year and having just received CSA certification in September 2017, Growratio is now poised for growth.

Round: Seed
Amount: $1M
Use: – To continue R&D programs in collaboration with Canadian Universities and the Ontario Centre of Excellence; to boost sales and marketing efforts directed at large scale enterprises and the home craft grower market, both in Canada and abroad; to scale production capacity in Ontario.

Metamaterial Technologies

Metamaterial makes smart materials that can reflect, capture or enhance light. The company is working with Airbus on a transparent light-reflecting film that protects pilots from laser strikes, while also working with Lockheed Martin and ENEL Energy on a light-capturing film that dramatically improves the efficiency, flexibility and cost-competitiveness of solar cells, making them better suited to mobility applications. Last June, Lockheed agreed to invest $5.6-million in Metamaterial as part of this $17.9-million effort.

Round: Series B
Amount: $15M
Use: To advance strategic partnerships with aviation and solar OEMs as part of commercialization process.


Opalux is an advanced materials company manufacturing passport and banknote security features using tunable photonic crystal technologies, which are smart materials that change colour in response to applied stimuli. Opalux’s state-of-the-art security features are virtually impossible to counterfeit, easy to verify, protected by 27 patents granted and 12 patents pending, and have low capital requirements. Opalux has recently entered into a channel partnership with De La Rue, the largest security printer in the world.

Round: Series A
Amount: $3M
Use: To scale up manufacturing and accelerate sales.


Pyrowave offers the first technology that can cost effectively convert post-consumer plastic waste back into product used to make new plastics. By using a small-scale microwave reactor placed where waste material is located, plastic waste is decomposed into chemicals which are later sent back to plastics manufacturers as feedstock, essentially closing the plastic loop.

Round: Series A
Amount: $3M-$4M
Use: To start commercialization and hire key finance and BD people. Funds will help build new machine for first customer in Sarnia, Ontario, and support development of new applications for new markets.


DISCLAIMER: MaRS Cleantech disclaims any and all liability in the event any information supplied here proves to be inaccurate, incomplete or unreliable, or results in any investment or other losses. The information here is believed reliable, however MaRS does not guarantee the accuracy or completeness of such information. MaRS is a non-profit that does not collect fees from any capital raised by companies in our venture network.