Sustainable Development Technology Canada this week announced Canada’s Sustainability Changemakers for 2023.
The list of ten companies showcases outstanding growth in the sustainability sector, with each Canadian firm demonstrating a track record of delivering on STDC’s mandate of environmental and economic benefits for Canada.
“Being one of Canada’s Sustainability Changemakers comes from leadership, excellence, and commitment to sustainability in Canada and worldwide,” stated Leah Lawrence, chief executive of SDTC.
Determining the list included a “rigorous evaluation process” featuring criteria such as minimal annual revenues of $10 million and a compound annual growth rate of at least 20% over three years. To qualify one must also be Canada-based and operated, providing environmental benefits with a global footprint.
“Congratulations, and thank you to all of 2023’s changemakers,” said Lawrence. “The transformative environmental and economic impact created by these companies is already seen today and will bring us closer to a clean and prosperous future.”
Two Alberta firms—one returning, and one new—made the 2023 list.
Returning is Calgary-based Hifi Engineering, which develops fibre optic sensing systems that combine sensors, visualization software, and artificial intelligence data algorithms for pipelines.
When installed along the length of a new or existing asset such as a pipeline, fibre optic sensors can monitor every centimetre of the pipeline, detecting potential leaks and adding extra layers of safety and operational intelligence, according to the company.
Hifi’s technology is deployed across millions of meters of pipeline assets, with significant growth in sales through contracts with major companies in Canada, such as the 1200KM TransMountain Expansion Project, while expanding their market focus to include the mining and water sectors.
New to the list this year is Westgen, a clean energy technology company based in Calgary specializing in providing methane emission reduction solutions.
Westgen’s “Engineered Power on Demand” is a clean energy technology solution that has become a standard on North American oil and gas production sites. The technology reduces up to 99% of emissions from methane gas emitting pneumatic devices, while decreasing operating costs and improving overall site reliability.
The company has experienced explosive growth in the Canadian and U.S. markets where oil and gas producers are driven by ESG goals and emerging regulations to reduce methane emissions. Westgen recently expanded its Canadian-based manufacturing operation with a 46,000 square foot facility in Rocky View County,.
The firm last year secured an investment led by ARC Financial through ARC Energy Fund 9 and Idea Well Capital Partners.
ARC Financial is Canada’s largest energy-focused private equity firm with a 30-year track record of supporting entrepreneurs in scaling high growth businesses. Idea Well is a venture capital fund focused on scaling and maturing climate tech & energy transition businesses through the contribution of capital, knowledge, and effort.
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