Sollum Technologies Announces 3.15M Canadian Dollars of New Funding
MONTREAL, QUEBEC, CANADA - Sollum Technologies 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.
“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,” said Louis Brun, President and CEO, Sollum Technologies.
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.
“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 Québec’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,” explained Jonatan Julien, Minister of Energy and Natural Resources of Québec. “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.”