Sollum Technologies closes a series of financings for more than CDN 12M$ with the support of Technoclimat

The company strengthens its position to accelerate the market entry of its LED smart lighting solution designed for greenhouse production.

MONTRÉAL, Oct. 20, 2020 /CNW/ - Sollum Technologies ("Sollum") is proud to announce that it received $3.15 million Canadian dollars of funding through the Technoclimat program. This major investment in Sollum's growth was preceded by $5 million Canadian dollars in funding from Sustainable Development Technology Canada (STDC) and $3.9 million Canadian dollars from Investissement Québec, its initial investors and National Bank.

Technoclimat's goal is to support innovation in the energy sector and the reduction of greenhouse gas emissions in Québec. Technoclimat's investment and support will enable Sollum to trial the greenhouse production of peppers during the winter with its smart LED lighting solution which dynamically recreates, perfects, and modulates the full spectrum of the Sun's natural light.

The Harrow Research and Development Centre for Agriculture and Agri-Food Canada demonstrated that such a production was possible at the scale of an experimental greenhouse. Ultimately, trials in two different greenhouses will not only demonstrate successful production in a commercial greenhouse, but also the potential for Sollum's technology to reduce energy consumption through precise light modulation and lighting outside of peak hours. Given the trials start in December 2020, they will enable the tangible measurement of produce productivity improvements under extreme climate conditions as well.

"In the context of increased consciousness around food autonomy, energy efficiency, and climate change, Technoclimat's participation yet again confirms our sustainable development partners' confidence in the environmental benefits and market potential our innovative technology provides. Sollum is entering a phase of accelerated growth with the backing of these solid partners." 
Louis Brun, President and CEO, Sollum Technologies

"The past few months made us realize that it is essential that we increase our food autonomy, and, above all, that we support our local producers. The smart horticultural lighting solution developed by Sollum Technologies inc. has the potential to reduce the energy consumption and increase the productivity of Quebec's commercial greenhouses. In the long run, it will enable the population of Québec to have access to a variety of locally produced and affordable fruits and vegetables, year-round. I'm very proud that our government is financing this technological demonstration project. With all my heart, I hope that this project contributes to the goal of developing innovative winter agriculture in Québec with the aim of replacing part of our imports, which would improve our trade balance."
Jonatan Julien, Minister of Energy and Natural Resources of Québec

About Sollum Technologies
Inspired by nature, Sollum Technologies was founded in 2015 to offer greenhouse producers the only smart LED lighting solution which dynamically recreates and modulates the full spectrum of the Sun's natural light. It is based in Montréal (Québec, Canada), where its design, development and manufacturing activities are concentrated. It works closely with its clients to create recipes adapted to the growth cycle of each product, regardless of its native climate in the world and the location of the greenhouse. Sollum's lighting solutions thereby provide unparalleled value in terms of energy savings, productivity and superior produce quality through a flexible, adaptive and easy-to-use application, with great respect for the environment. It was awarded the Solar Impulse Foundation Efficient Solution Label granted to only 1000 technologies in the world. For more information, visit sollum.tech, our LinkedIn or Facebook pages.

About Technoclimat
The Technoclimat government program is offered by Transition énergétique Québec. The objective of Technoclimat is to encourage the development, in Québec, of technological innovation in the areas of energy efficiency, renewable energies, bioenergies and greenhouse gas (GHG) emission reductions by offering financial assistance to project promoters who wish to demonstrate the potential of a technological innovation.

©2020 Sollum Technologies. All rights reserved. SUN as a Service, LED to Nature and the Sollum logo are registered or trademarks of Sollum Technologies.

SOURCE Sollum Technologies

Media Contact, Valérie Gonzalo, +1.514.626.6976, [email protected]; Marketing Contact, Jenny Zammit, +1.514.975.7308, [email protected]