NGIF Capital Corporation Announces $35M Cleantech Venture Fund for Canada’s Natural Gas Sector

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NGIF Capital Corporation Announces $35M Cleantech Venture Fund for Canada’s Natural Gas Sector


April 1, 2021
OTTAWA, ON (April 1, 2021) NGIF Capital Corporation announces an agreement among investors to launch NGIF Cleantech Ventures. This new equity fund will invest in cleantech enterprises with solutions that lead to emissions reductions in existing natural gas production, transmission, distribution, storage or end-use applications; or through the production of renewable gases such as renewable natural gas (RNG) or hydrogen. The investments made through the fund will improve environmental performance while building the value of affordable, reliable natural gas to meet the ongoing needs of Canada’s energy system, and to meet the growing global opportunity for Canadian natural gas.

NGIF Cleantech Ventures’ seven limited partners represent Canada’s natural gas value chain: ARC Resources Ltd., ATCO Gas Ltd., Birchcliff Energy Ltd., FortisBC Energy Inc., TC Energy Corporation, Tidewater Midstream and Infrastructure Ltd., and Tourmaline Oil Corp. Their investments create an equity fund to build on the original and ongoing granting organization, the Natural Gas Innovation Fund (now NGIF Industry Grants). These two financing models are the first cleantech funds focused solely on gas solutions.

“NGIF Cleantech Ventures is uniquely placed to position Canada’s natural gas as the most competitive gas molecule in the world with the lowest-emission profile” said John Adams, President and CEO of NGIF Capital Corporation and now also Managing Partner of NGIF Cleantech Ventures. “Our fund will leverage the experience and expertise of our strategic gas partners to support our cleantech startups. NGIF Cleantech Ventures, together with our flagship fund NGIF Industry Grants, will help support new ventures from concept to commercialization.”

NGIF Capital Corporation and its two funds, NGIF Industry Grants and NGIF Cleantech Ventures, as well as the NGIF Emissions Testing Centre, were created by the Canadian Gas Association as part of its ongoing commitment to innovation across the natural gas value chain.

Quotes:

“Building a low-emissions future means making investments like this. Creating jobs and advancing clean energy initiatives. This is how we get to net-zero by 2050.”

The Honourable Seamus O’Regan Jr., Canada’s Minister of Natural Resources


“Our natural gas sector has massive potential to support a cleaner, more secure energy future for Canadians and people around the globe. The creation of the Cleantech Ventures fund is a welcome step to building that positive energy future and advancing new sources of capital to see that potential turn into reality.”

Dale Nally, Alberta Associate Minister of Natural Gas and Electricity


“The Canadian natural gas industry plays a significant role in creating a better life for Canadians. Canada is a leader in producing this important resource in the most responsible manner. ARC Resources Ltd. is excited to play an active role by participating in NGIF Cleantech Ventures, as continued investment in new and clean technology will play an important role in further reducing Canada’s GHG emissions and providing a competitive advantage for our sector.”

Terry Anderson, President and Chief Executive Officer, ARC Resources Ltd.


“Our investment and commitment to advancing the future of clean technologies, innovative opportunities and renewable energy sources is a fundamental part of our growth and success as a natural gas delivery provider. Maintaining safe, affordable, clean, and reliable natural gas delivery to our customers, while working hard to reduce greenhouse gas emissions, is what we aspire to continue. With the continued evolution of the development of the Natural Gas Innovation Fund (NGIF) and now NGIF Cleantech Ventures, the future of natural gas as part of the Canada’s energy delivery system is an exciting one. I look forward to the ground-breaking discoveries I know will come from the work supported by this fund.”

Jason Sharpe, President, Natural Gas, ATCO 


“We are proud to be a part of the new NGIF Cleantech Ventures. Birchcliff believes that innovation and technology are key to a strong natural gas industry in Western Canada and the whole of Canada. By being a part of this fund, we are supporting the development of new technologies that will help our industry to develop this vital natural resource in an even more responsible manner so that we can continue to deliver clean, affordable energy to the world.”

Jeff Tonken, President and Chief Executive Officer, Birchcliff Energy Ltd


“Innovation is vital to Canada’s clean energy future. FortisBC is investing in new technologies through several initiatives including NGIF Cleantech Ventures, that promote energy efficiency and improving access to renewable gases through our existing infrastructure. These initiatives will help ensure cleaner, affordable energy for year to come.”

Roger Dall’Antonia, President and Chief Executive Officer, FortisBC


“Supporting clean innovation is a critical component to meeting global GHG emission reduction goals and to the overall success of our energy future. We are proud to partner with NGIF Cleantech Ventures and look forward to developing these opportunities while continuing to deliver safe, reliable energy.”

François Poirier, President and CEO, TC Energy Corporation.


“Tidewater is proud to be a founding investor in the NGIF Cleantech Ventures.  This investment reflects our ongoing support of important initiatives in cleantech, particularly in the natural gas and hydrogen sectors.  Investments such as this not only help our industry but assist in positioning Canada as a leader in clean energy.”

Joel Macleod, Chairman and Chief Executive Officer, Tidewater Midstream and Infrastructure Ltd.


“NGIF Cleantech Ventures will further support the ongoing effort by the full natural gas industry to produce continually lower methane emissions from drill bit to burner tip.”

Mike Rose, President, CEO and Chairman, Tourmaline Oil Corp


”Canada’s natural gas industry is foundational to the production and delivery of the affordable, reliable energy enjoyed by Canadians today. The creation of NGIF Cleantech Ventures will further position the sector as a leader in innovation and environmental performance and strengthen Canada’s position on the global stage.”

Timothy M. Egan, President and CEO, Canadian Gas Association


About NGIF Cleantech Ventures
NGIF Cleantech Ventures is a $35-million industry-led seed fund that makes equity investments in early-stage startups. The fund will deliver superior returns for its investors, as well as significant environmental benefits for Canada’s natural gas sector. NGIF Cleantech Venture investments include solutions that lead to emissions reductions and other environmental benefits in existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging fuels like renewable natural gas and hydrogen. NGIF Cleantech Ventures’ seed financing is operated by NGIF Capital Corporation.
Media Information:
Sarah Robinson
Manager, Communications
NGIF Capital Corporation
613-748-0057
srobinson@cga.ca
Fund Information:
John Adams
President and CEO
NGIF Capital Corporation
613-748-0057
jadams@cga.ca

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At NGIF, we invest in companies who are leading in the development of clean technologies for energy and who have the potential to demonstrate significant and quantifiable environmental and economic returns.

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