100% of presenting companies funded after company CEOs pitched to angel
investors in November 2010
TORONTO, March 3 /CNW/ - Three MaRS cleantech clients secured angel
funding last week after participating in the MaRS angel program,
highlighting the importance of organizations like MaRS in bridging the
gap between start-ups and investors.
GreenMantra Recycling Technologies Ltd., Smart Energy Instruments Inc.
and Temporal Power Ltd. 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.
"It's no secret that finding capital in Canada is a significant
challenge," says Ilse Treurnicht, CEO of MaRS. "But our angel events
prove, time and time again, that there is a group of committed angel
investors in Ontario who are prepared to invest in companies with
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 (www.greenmantra.ca) 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' (www.smartenergyinstruments.com) 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 (www.temporal-power.com) 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.
"These companies have the potential to become major players in the
Ontario and North American markets," says Tom Rand, MaRS Cleantech
Practice Lead. "The proceeds of these investments will go a long way in
helping expand their businesses, refine their technologies and create
jobs in Ontario."
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. MaRS advisors help company CEOs perfect
their pitches, define and communicate their value propositions and
facilitate introductions to MaRS' networks of investors.
MaRS Discovery District (www.marsdd.com) is a large scale, mission driven innovation centre located in Toronto
and networked across Ontario, focused on building Canada's next
generation of technology companies. MaRS works closely with
entrepreneurs in life sciences and health care, information,
communications and entertainment technologies, clean tech, advanced
materials and engineering, as well as innovative social purpose
SOURCE MaRS Discovery District
For further information:
Vanessa Caldwell, MaRS Communications