Tailwind Ventures Elevates Alberta to the Top Tier: ClearSky Global's C$230 M Capital Raise Solidifies Alberta as a Key Player in Canada's Venture Capital Landscape
Calgary, AB – September 5, 2024 – This summer, the Canadian Venture Capital & Private Equity Association (CVCA) published its H1 2024 Canadian Venture Capital Market Overview report, revealing a notable shift in the landscape of Canadian VC investment. Alberta has emerged as a prominent player, joining Ontario (C$1.7 B), and Québec (C$1.2 B), in the top three provinces for venture funding at C$383 million. Alberta's investment of C$383 million surpasses British Columbia’s C$288 million, positioning Alberta firmly in the top tier. Collectively, Ontario, Québec, and Alberta account for 90% of all Canadian venture capital deployed in the first half of 2024.
60% of Alberta's C$383 million in investment activity can be attributed to ClearSky Global’s recent capital raise of C$230 million from a private international ESG investment group. Tailwind Ventures played a pivotal role, facilitating ClearSky Global's successful capital raise.
“We are very proud to have contributed to Calgary’s economic growth, working with ClearSky to secure the financing that will allow them to scale their clean fuels technology across Canada and North America," says Darren Engels, CEO, Tailwind Ventures. "We look forward to working to bring additional investment to more stellar companies here in Alberta.”
Who is ClearSky Global?
ClearSky Global (ClearSky), based in Calgary, offers economic, viable and responsible solutions deploying innovative technology capable of providing a measurable reduction in greenhouse gas (GHG) emissions, while powering the modernization of the transportation industry.
ClearSky’s products have the potential to significantly reduce GHG emissions and harmful particulate matter through the development of high-quality, low-carbon, and economically viable aviation and transportation fuels. The company plans to utilize its recent financing to advance its ECOGY® technology, which integrates proprietary and commercially validated methods to convert natural gas into both diesel and jet fuel. This process offers a cost-effective alternative to biofuels and refined petroleum products.
ClearSky plans to operationalize its first three facilities, thereby supporting its clients across various industries and geographies in accelerating their sustainability objectives and emissions-reduction goals. With this swift deployment, ClearSky anticipates that the impact of its technology will become evident in the near term.
Who is Tailwind Ventures?
Tailwind Ventures is a Calgary-based Venture Development Bank™️ dedicated to preparing early- and growth-stage ventures for investment and connecting them with capital providers. Tailwind’s proprietary process enables ventures to tell their story in the language of investors.
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[1] 5th largest early-stage VC raise in the clean fuels space, all-time, globally and the largest in Canadian history”; based on Pitchbook data as at June 13, 2024.
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