NGIF Capital launches cleantech/innovation accelerator
Canadian venture capital firm NGIF Capital said September 5 it had launched a not-for-profit corporation, NGIF Accelerator, to provide a platform to commercialisation for cleantech startups and innovators.
NGIF Accelerator, which will be headed by NGIF Capital CEO John Adams, will act as the not-for-profit arm of NGIF and include current technology and innovation programs such as NGIF’s Industry Grants (IG) and its Emissions Testing Centre (ETC) in its operations.
“With the creation of NGIF Accelerator in our group of enterprises we now have an even better platform to take startups and their ideas from concept to commercialisation,” Adams said.
NGIF Accelerator will support startups to de-risk and accelerate technology development through field trials, pilot projects, university simulations, and industry validation. It will also coordinate with the federal and provincial governments to co-fund projects to advance technology and innovation for market commercialisation.
NGIF Capital will continue as the for-profit investment arm of NGIF, operating current and future investment funds, including the C$55mn Cleantech Ventures Fund 1, whose 10 portfolio companies have raised more than C$200mn in capital since the fund’s launch in 2021.
“Canada’s natural gas industry is foundational to the production and delivery of the affordable, reliable energy enjoyed by Canadians today,” said Timothy Egan, chair of NGIF Capital and CEO of the Canadian Gas Association, which launched NGIF in 2016. “When we created NGIF, it was our vision to bring the entire natural gas value chain together to support cleantech development that enhances environmental and economic performance for the sector. The creation of NGIF Accelerator will further position the sector as a leader in innovation and environmental performance.”