CALGARY, AB (JUNE 12, 2023): NGIF Capital through its Industry Grants program is excited to announce the funding of $93,250 to BKR Energy, an Ontario-based Cleantech startup for developing smart fuel switch controllers. The design will accelerate the efficiency and affordability of hybrid Heating Ventilation and Air Conditioning (HVAC) systems when switching between electricity and natural gas.
Image: Hybrid HVAC System with BKR Energy’s Smart Thermostat
BKR’s intelligent fuel-switching controllers are positioned to boost emission reductions while saving households money. The technology includes local energy rates, equipment time-variant efficiencies, and capacities in the decision-making process. It also provides technical and economic reports to homeowners using IOS/Android phone apps.
“Their cloud platform and AI technology can be an ideal solution for residential and commercial HVAC system controls via thermostats to use less energy,” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “NGIF Industry Grants and its focus on de-risking clean technologies through field trials and pilots are part of NGIF’s integrated model of industry validation, customer creation, and market commercialization.”
“NGIF Industry Grants is playing a vital role in promoting technological development. The grant will enable the development of machine learning (ML) and cloud computing functions, improving fuel-switching efficiency”, said Nima Alibabaei, CEO and Co-founder, BKR Energy.
In the future, the platform will incorporate smart cloud computing functions such as machine learning and artificial intelligence (AI) to enhance effectiveness.
“Canadians want and need the affordable, reliable, clean energy service offering they have come to expect from the natural gas industry. When we created NGIF, it was our vision to bring the entire natural gas value chain together to support cleantech development that enhances environmental and economic performance for the sector. I am glad to see our vision in action, as NGIF continues to support technologies like BKR Energy,” said Timothy M. Egan, President and CEO, Canadian Gas Association and Chair, NGIF Capital Corporation.
Industry Grants Participants and Project Partners
About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates, and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen. The organization has built a portfolio of startups, trusted partnerships with the government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.
About NGIF Capital Corporation
NGIF Capital Corporation is a Canadian venture capital (VC) firm offering grant and equity financing for startups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Capital Corporation is unique in how it brings Canada’s energy industry leadership to every investment. Like other VCs, it takes new companies and their ideas from concept to commercialization. Unlike other VCs, NGIF Capital Corporation has strong connections to every part of the gas value chain, from production through to end-use, offering it a means to test, develop, and accelerate the commercial implementation of innovative gas technology wherever it fits in the sector. The model benefits consumers, investors, and Canadian society as a whole. NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), the NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is wholly owned by CGA Enterprises, a venture of the Canadian Gas Association.
About BKR Energy:
BKR Energy is an innovative startup company that uses the edge of cloud computing technologies to improve the performance of hybrid HVAC systems. For more details visit: https://bkrenergy.ca/.
About Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gaseous energy delivery industry, including natural gas, renewable natural gas (RNG), and hydrogen. CGA membership includes energy distribution and transmission companies, equipment manufacturers, and suppliers of goods and services to the industry. CGA’s utility members are Canadian-owned and active in eight provinces and one territory. CGA members meet 38 percent of Canada’s energy needs through a network of over 577,000 kilometers of underground infrastructure. The versatility and resiliency of this infrastructure allow it to deliver an ever-changing gas supply mix to over 7.4 million customer locations representing approximately two-thirds of Canadians. CGA members ensure Canadians get the affordable, reliable, clean gaseous energy they want and need. CGA is also working to constantly improve that gaseous energy offering, by driving forward innovation through the Natural Gas Innovation Fund (NGIF).
Fund Information:
John Adams
President and CEO, NGIF Capital Corporation
Managing Partner, NGIF Cleantech Ventures
613-748-0057
jadams@ngif.ca
Media Information:
Dini Philip
Communications Coordinator, NGIF Capital Corporation
(403)-389-2090
Dphilip@ngif.ca
