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As demand for sustainable products grows and net-zero pledges come under increased scrutiny, companies need to find ways to credibly shrink their carbon footprints. But it can be hard for small businesses to know where to start. Consultants who specialize in helping companies decarbonize are seeing soaring demand for their services.
“Their expertise is in high demand, making it more expensive and less attainable for businesses,” says Sanders Lazier, co-founder of Toronto-based climate tech startup Carbonhound. “We end up with a knowledge gap in the market.”
Lazier is trying to fill that void with his company. Carbonhound has developed software that enables small- and medium-sized businesses to track their emissions in real time and easily see how they are faring against their targets. It also guides companies to the actions and know-how needed to reduce their environmental impact.
Having just raised $1.3 million in funding, Carbonhound, which was founded last year, is aiming to help companies navigate a slate of new emissions-reducing government actions coming down the pipe. “You’ve got the tailwinds of new SEC regulations that are coming up and the Canadian equivalents, the EU’s carbon border tax coming into effect in 2027. If you’re selling into that market, that’s going to impact you,” says Lazier. “You’re starting to see the confluence of these commitments that have been made as part of the Paris Accord.”
“If you’re not a sustainable business, then you’re grabbing a smaller and smaller portion of market share every year,” says Lazier.
An eye test for Alzheimer’s
A new technology that looks for early signs of Alzheimer’s through an eye test is being deployed by optometrists in the GTA. RetiSpec, a Toronto-based medical AI company, captures images of the retina and uses AI to look for abnormal concentrations of a protein linked to the disease. Its technology has been installed at Victoria Village Optometry in North York and Summerhill Optometry, where it will be used to assess at-risk patients.
Canadian tech will power clean energy projects across the U.S.
Toronto-based cleantech firm Peak Power is exploring expansion opportunities in America after raising $35 million (U.S.) from investors. The company provides battery-storage systems and software that help commercial and industrial building owners optimize their energy use. It is working on projects in California, Massachusetts, New York and Virginia.
Canadian AI health startups acquired
Biotech company Recursion has acquired two Canadian startups: The American firm has bought Toronto’s Cyclica and Montreal’s Valence for nearly $117 million. Both companies use AI to help develop new drugs.
Elevate tech festival announces lineup
“Dragons’ Den” personality Arlene Dickinson, journalist Lisa LaFlamme and astronaut Chris Hadfield are among the slate of speakers announced for Toronto’s Elevate festival in September. Some of the topics that will be in the spotlight during the three-day event include AI, the future of work, gaming and where societies are headed.
Trade-school scholarships aim to fill skilled-labour gaps
Trusscore, which makes PVC-based wall and ceiling panels, will fund two scholarships at Conestoga College in Cambridge, Ont., to promote skilled trades training. At least one will be awarded to a female student to help create better gender parity in the trades.
By the numbers
- $3 million: University of Toronto and pharma company GSK will invest $3 million to develop vaccine education programs and tools for pharmacists.
- 3x: Canada’s electronic waste has more than tripled in the past two decades, according to recent research from the University of Waterloo.
- 45 per cent: A survey from the Business Development Bank of Canada says 45 per cent of business owners are feeling mental health challenges. High inflation is a major cause.
- 19th: Canada is the 19th most expensive country for mobile data according to a new study — one gigabyte costs 26 times more than in France and 155 times more than in Israel.
Disclaimer This content was produced as part of a partnership and therefore it may not meet the standards of impartial or independent journalism.