{"id":35844,"date":"2023-01-18T12:30:21","date_gmt":"2023-01-18T13:30:21","guid":{"rendered":"https:\/\/peymantaeidi.net\/stem-cell\/?p=35844"},"modified":"2023-01-18T13:39:28","modified_gmt":"2023-01-18T13:39:28","slug":"varcoe-summit-nanotech-lands-67m-in-funding-accelerating-growth-in-calgarys-flourishing-cleantech-sector","status":"publish","type":"post","link":"https:\/\/peymantaeidi.net\/stem-cell\/2023\/01\/18\/varcoe-summit-nanotech-lands-67m-in-funding-accelerating-growth-in-calgarys-flourishing-cleantech-sector\/","title":{"rendered":"Varcoe: Summit Nanotech lands $67M in funding, accelerating growth in Calgary&#039;s flourishing cleantech sector"},"content":{"rendered":"<header aria-label=\"Beginning of Article\" class=\"article-header\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<h2 class=\"visually-hidden\">Breadcrumb Trail Links<\/h2>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\"> <a class=\"breadcrumbs__item-link\" href=\"https:\/\/calgaryherald.com\/category\/business\/local-business\/\">Local Business<\/a> <\/li>\n<li class=\"breadcrumbs__item\"> <a class=\"breadcrumbs__item-link\" href=\"https:\/\/calgaryherald.com\/category\/business\/energy\/\">Energy<\/a> <\/li>\n<li class=\"breadcrumbs__item\"> <a class=\"breadcrumbs__item-link\" href=\"https:\/\/calgaryherald.com\/category\/opinion\/columnists\/\">Columnists<\/a> <\/li>\n<li class=\"breadcrumbs__item\"> <a class=\"breadcrumbs__item-link\" href=\"https:\/\/calgaryherald.com\/category\/business\/\">Business<\/a> <\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\"> Summit Nanotech is part of a growing cleantech community in Alberta, and there are expectations it will get much bigger in the coming years <\/p>\n<\/p><\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\">       <img loading=\"lazy\" decoding=\"async\" alt=\"Summit Nanotech CEO Amanda Hall was photographed at the company\u2019s Calgary offices on Tuesday, January 17, 2023.\" class=\"featured-image__image type:primaryImage\" height=\"750\" src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/CAL-011723-gya-1-copy.jpg\" width=\"1000\" \/><figcaption class=\"featured-image__caption image-caption\"> <span class=\"caption\">Summit Nanotech CEO Amanda Hall was photographed at the company\u2019s Calgary offices on Tuesday, January 17, 2023.<\/span> <span class=\"distributor\">Gavin Young\/Postmedia<\/span> <\/figcaption><\/figure>\n<\/p><\/div>\n<\/header>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>In the heartland of Canada\u2019s oil and gas industry, Alberta\u2019s cleantech sector is taking flight, and Summit Nanotech Corp. now has more than 50 million ways to validate the transformation.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment7256700426768623478223449146523648\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment7256700426768623478223449146523648\">Advertisement 2<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The Calgary-based company, which uses advanced nanomaterial in a process to extract lithium from brine water, will announce Wednesday it has closed a US$50 million (C$67 million) fundraising round.<\/p>\n<\/section>\n<div class=\"article-content__widget-group article-content__widget-group--content-slot6 article-content__widget-group--newsletter-slot\">\n<section aria-labelledby=\"CalgaryHeraldHeadlineNews2403828505590763543445636313513984\" class=\"newsletter-widget ch-headlinenews background--primary-light-gradient\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"CH_HeadlineNews\" data-widget=\"newsletter\"> <img loading=\"lazy\" decoding=\"async\" alt=\"Calgary Herald Headline News Banner\" class=\"newsletter-widget__banner\" height=\"60\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/12.7.1\/websites\/images\/newsletters\/CH_HeadlineNews.svg\" 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You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 <\/small> <\/div>\n<div class=\"js-submit-success\" id=\"submitSuccessCH_HeadlineNews\">\n<h3 class=\"newsletter__feedback--heading\">Thanks for signing up!<\/h3>\n<p class=\"newsletter-widget__text\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text newsletter__feedback--last\">The next issue of Calgary Herald Headline News will soon be in your inbox.<\/p>\n<\/p><\/div>\n<p class=\"newsletter-widget__text js-submit-error\" id=\"submitErrorCH_HeadlineNews\"> We encountered an issue signing you up. Please try again <\/p>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The round was led by Vancouver-based Evok Innovations and BDC Capital, the investment arm of the Business Development Bank of Canada.<\/p>\n<p>\u201cIt really does allow us to accelerate our growth faster than we had originally expected, which is super important because the customer demand for our technology is so high,\u201d Summit founder and CEO Amanda Hall said in an interview.<\/p>\n<p>\u201cMost of the customers who are looking for lithium extraction technology, they wanted it last year, not two years down the road.\u201d<\/p>\n<p>Founded in 2018 by Hall, a former oilpatch geophysicist, Summit has grown from about 15 employees last year \u2014 after it closed a Series A round of US$14 million \u2014 to more than 70 workers, with the bulk of its staff based in Calgary.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment9025791169967197885816087783669760\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment9025791169967197885816087783669760\">Advertisement 3<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Company officials expect the workforce will top 100 by year\u2019s end.<\/p>\n<p>Last spring, Summit moved into a 26,000-square-foot facility near the Calgary airport, where it has a lab and manufactures nanomaterials.<\/p>\n<p>It has a lithium-extraction pilot facility now operating in Chile that was commissioned in September, and six mining customers supplying it with raw feedstock.<\/p>\n<p>Results in South America have gone well; Hall hopes to be operating the technology on a commercial scale in about two years.<\/p>\n<p>Despite economic turmoil and headwinds facing Canadian technology firms these days, the financing round for Summit was oversubscribed.<\/p>\n<p>\u201cWith all the volatility in the world, with inflation and wars and COVID and the uncertainty in the market, the lithium price and lithium demand has continuously marched uphill,\u201d she added.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment664276504138261429883857497227264\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment664276504138261429883857497227264\">Advertisement 4<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>\u201cIt gives our investors and our team a lot of security that we\u2019re on the right path and we\u2019re in the right market.\u201d<\/p>\n<section aria-labelledby=\"moreTopicLabel6789459950759936163815422452301824\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">  <button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" title=\"previous\" type=\"button\"><\/button> <\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\">\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <a href=\"https:\/\/calgaryherald.com\/news\/local-news\/calgary-startup-awarded-1-million-grant-for-greener-lithium-extraction\">  <img loading=\"lazy\" decoding=\"async\" alt=\"Amanda Hall, CEO of Summit Nanotech, stands in one of her company&#039;s green lithium extraction labs in Calgary on Sunday, December 5, 2021. Hall was announced as the $1-million grand prize winner of the Impact Canada Women in Cleantech Challenge.\" class=\"lazyload\" data-src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/CAL120521-gya-3.jpg\" height=\"96\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/calgaryherald\/wp-content\/uploads\/2021\/12\/CAL120521-gya-3.jpg?h=96&amp;strip=all&amp;quality=5\" width=\"96\" \/><br \/>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> Calgary startup awarded $1-million grant for greener lithium extraction <\/span> <\/h3>\n<p> <\/a> <\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <a href=\"https:\/\/calgaryherald.com\/news\/local-news\/compelling-calgarians-amanda-hall-making-the-energy-industry-more-green\">  <img loading=\"lazy\" decoding=\"async\" alt=\"Amanda Hall leads Calgary tech firm Summit Nanotech, which has developed state-of-the-art green extraction technology for lithium, used to power cellphones and electric cars.\" class=\"lazyload\" data-src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/compelling-calgarians-2020-1.jpg\" height=\"96\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/calgaryherald\/wp-content\/uploads\/2020\/12\/compelling-calgarians-2020-1.jpg?h=96&amp;strip=all&amp;quality=5\" width=\"96\" \/><br \/>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> Compelling Calgarians: Amanda Hall, making the energy industry more green <\/span> <\/h3>\n<p> <\/a> <\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\"> <a href=\"https:\/\/calgaryherald.com\/business\/energy\/calgary-based-company-secures-27m-in-federal-funding-to-develop-lithium-extraction-in-oilpatch\">  <img loading=\"lazy\" decoding=\"async\" alt=\"Chris Doornbos, CEO and founder of Calgary-based E3 Lithium.  E3 Metals Corp CEO Chris Doornbos poses for a photo on Thursday, November 28, 2019. Azin Ghaffari\/Postmedia Calgary\" class=\"lazyload\" data-src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/1128-E3-Metals-Corp.jpg\" height=\"96\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/calgaryherald\/wp-content\/uploads\/2022\/11\/1128-E3-Metals-Corp.jpg?h=96&amp;strip=all&amp;quality=5\" width=\"96\" \/><br \/>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> Calgary-based company secures $27M in federal funding to develop lithium extraction in oilpatch <\/span> <\/h3>\n<p> <\/a> <\/li>\n<\/ol>\n<p> <button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" title=\"next\" type=\"button\"><\/button> <\/section>\n<p>Summit Nanotech is part of a growing cleantech community in Alberta, and there are expectations it will get much bigger in the coming years.<\/p>\n<p>Companies such as Eavor Technologies and Validere Technologies are also expanding in the city, while traditional energy giants are investing time and money in clean technology research and development.<\/p>\n<p>According to a report last week by the International Energy Agency, the global market for mass-manufactured clean energy technologies will be worth US$650 billion annually by the end of this decade if countries live up to their commitments surrounding energy and climate.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment368145362260962009157479316848640\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment368145362260962009157479316848640\">Advertisement 5<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The Canadian government, for example, will require all cars and passenger truck sales to be of zero-emissions vehicles by 2035.<\/p>\n<p>Lithium demand is growing as the critical mineral is used in rechargeable batteries, such as for mobile phones, electric vehicles and cameras.<\/p>\n<p>The IEA report noted the average price for lithium was almost four times as high last year than in 2019.<\/p>\n<p>\u201cThe demand for lithium is skyrocketing,\u201d said Cheri Corbett, senior partner of BDC Capital\u2019s climate tech fund.<\/p>\n<p>\u201cBatteries, in general, will play an increasingly important role in decarbonizing our economy, and we believe that Summit has the right technology to ensure that lithium mining is done both in a responsible and a sustainable manner.\u201d<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment9302787604798808103882499106537472\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment9302787604798808103882499106537472\">Advertisement 6<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>Marty Reed, a partner at Evok Innovations, said he met Hall several years ago and was impressed by the Calgary entrepreneur.<\/p>\n<p>\u201cShe\u2019s just incredibly compelling and a great example of some of the amazing talent that we have coming out of the kind of legacy incumbent energy companies,\u201d he said.<\/p>\n<p>\u201cIt\u2019s the right CEO focusing on the right problem at the right time.\u201d<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\">       <img loading=\"lazy\" decoding=\"async\" alt=\"Summit Nanotech CEO Amanda Hall was photographed at the company\u2019s Calgary offices on Tuesday, January 17, 2023.\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/CAL-011723-gya-5-copy.jpg\" data-srcset=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/CAL-011723-gya-5-copy.jpg,                 https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/CAL-011723-gya-5-copy-1.jpg 2x\" height=\"750\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/calgaryherald\/wp-content\/uploads\/2023\/01\/CAL-011723-gya-5-copy.jpg?quality=5&amp;strip=all&amp;w=100\" width=\"1000\" \/><figcaption class=\"image-caption\"> <span class=\"caption\"> Summit Nanotech CEO Amanda Hall was photographed at the company\u2019s Calgary offices on Tuesday, January 17, 2023.<\/span> <span class=\"distributor\">Gavin Young\/Postmedia<\/span> <\/figcaption><\/figure>\n<p>Alberta has a lot at stake in the evolution of the cleantech sector.<\/p>\n<p>The energy transition could create an additional 170,000 jobs in cleantech and contribute more than $60 billion to the province\u2019s economy by 2050, a report conducted for the economic development organizations for Calgary and Edmonton concluded.<\/p>\n<p>The study, released a little more than a year ago, pointed out Alberta already has 945 cleantech companies, including 462 headquartered in Calgary, that directly employ 14,600 people. Another 137,000 Albertans work \u2014 both directly and indirectly \u2014 in the broader cleantech industry.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment6390945783109502694114787005038592\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment6390945783109502694114787005038592\">Advertisement 7<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-7\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>While Alberta has considerable strengths that should enable the sector to expand, \u201ccapital investment is the key to pursuing a clean energy transition and realizing the associated benefits,\u201d the report stated.<\/p>\n<p>\u201cWhen I look at the Calgary ecosystem, there is incredible knowledge about energy and about engineering and about transition. There is incredible entrepreneurial talent that has had success globally,\u201d said Karen Hamberg, Deloitte Canada\u2019s national clean technology leader.<\/p>\n<p>\u201cSo all of the elements, whether it\u2019s the money, the talent \u2014 there\u2019s certainly no shortage of ideas \u2014 it\u2019s all happening there in Calgary.\u201d<\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\">       <img loading=\"lazy\" decoding=\"async\" alt=\"The Calgary skyline was photographed on a sunny afternoon on Wednesday, January 4, 2023.\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/20230104-downtown-ag-9988_274990394.jpg\" data-srcset=\"https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/20230104-downtown-ag-9988_274990394.jpg,                 https:\/\/peymantaeidi.net\/stem-cell\/wp-content\/uploads\/2023\/01\/20230104-downtown-ag-9988_274990394-1.jpg 2x\" height=\"750\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/calgaryherald\/wp-content\/uploads\/2023\/01\/20230104-downtown-ag-9988_274990394.jpg?quality=5&amp;strip=all&amp;w=100\" width=\"1000\" \/><figcaption class=\"image-caption\"> <span class=\"caption\"> The Calgary skyline was photographed on a sunny afternoon on Wednesday, January 4, 2023.<\/span> <span class=\"distributor\">Azin Ghaffari\/Postmedia<\/span> <\/figcaption><\/figure>\n<p>A separate report issued Wednesday by Deloitte Canada cautioned that the country can\u2019t attain its climate goals without speeding up the commercialization and adoption of cleantech, and deploying technology at scale domestically.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section aria-describedby=\"advertisment7506564447816238027627295594774528\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment7506564447816238027627295594774528\">Advertisement 8<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner\" id=\"ad__inner-8\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"8\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-8\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The study noted it can take between a dozen and 15 years in Canada to commercialize innovative ideas.<\/p>\n<p>\u201cWe need to be putting in the effort around market creation and the market development,\u201d added Hamberg.<\/p>\n<p>Hall believes it\u2019s an advantage to grow the firm out of Calgary. She noted Alberta-based companies have experience in resource extraction, working in remote areas and coming up with scientific solutions.<\/p>\n<p>\u201cWe stand on the shoulders of giants in everything we do,\u201d Hall said.<\/p>\n<p>\u201cWe have the mindset, we have the attitude, we have the grit and we have the knowledge to make a huge impact in the cleantech space.\u201d<\/p>\n<p><em>Chris Varcoe is a Calgary Herald columnist.<\/em><\/p>\n<p data-async=\"\"><a data-evt=\"click\" data-evt-typ=\"click\" data-evt-val=\"{&quot;control_fields&quot;: {&quot;mparticle&quot;: {&quot;keys&quot;: {&quot;click_source_type&quot;: &quot;click_source_type&quot;, &quot;anchor_text&quot;: &quot;anchor_text&quot;, &quot;layout_section&quot;: &quot;layout_section&quot;}, &quot;mp_event_type&quot;: &quot;Navigation&quot;, &quot;extra_keys&quot;: [&quot;click_vertical_position_percentage&quot;, &quot;click_vertical_position_pixels&quot;]}}, &quot;click_source_type&quot;: &quot;in-page link&quot;, &quot;anchor_text&quot;: &quot;cvarcoe@postmedia.com&quot;, &quot;layout_section&quot;: &quot;in-page-link&quot;}\" href=\"mailto:cvarcoe@postmedia.com\">cvarcoe@postmedia.com<\/a><\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt=\"beforeunload\" data-evt-typ=\"page_scroll\" data-evt-val=\"{&quot;control_fields&quot;: {&quot;mparticle&quot;: {&quot;mp_custom_flags&quot;: [&quot;Google.NonInteraction&quot;, &quot;Google.Page&quot;], &quot;extra_keys&quot;: [&quot;percentage_of_page_viewed&quot;, &quot;percentage_of_story_viewed&quot;]}}}\">\n<h2 class=\"visually-hidden\">Share this article in your social network<\/h2>\n<\/section>\n<div class=\"widget article-content__widget-group article-content__widget-group--wcm-dynamic-list-slot\">\n<section aria-labelledby=\"LatestNationalStories3227899992471046941531752619835392\" class=\"list-widget list\" data-aqa=\"widget-list\" data-async=\"\" data-category-colour=\"default\">\n<ol class=\"list-widget__content list-unstyled list--loading\" data-content-id=\"d2b1055d-819b-4edb-b85b-90f1d03cdf9b\" data-list-component=\"\" data-list-id=\"750b25a8-e919-4c89-97b7-38feb92870d9\" data-list-max=\"5\" data-list-min=\"3\" data-list-name=\"latest-national-stories\" data-list-native_ad_enabled=\"True\" data-list-native_ad_position=\"2\" data-list-pos=\"\" data-list-render=\"widget\" data-list-type=\"wcm-dynamic-list\" data-remove-duplication=\"\" data-template-name=\"feed-card-list\" id=\"d2b1055d-819b-4edb-b85b-90f1d03cdf9b\"> <\/ol>\n<div class=\"visually-hidden js-d2b1055d-819b-4edb-b85b-90f1d03cdf9b-native\">\n<article class=\"ad__native\" data-list-position=\"2\" data-native=\"\">\n<section aria-describedby=\"advertisment3913731532320878561700050611732480\" class=\"ad\">\n<h2 class=\"visually-hidden\" id=\"advertisment3913731532320878561700050611732480\">Advertisement 1<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__label\">\n<p> Story continues below <\/p>\n<\/p><\/div>\n<div class=\"ad__inner ad__inner--native\" id=\"ad__inner-native-1\">\n<div class=\"ad__inner__container\" data-ad=\"[[5,5]]\" data-ad-light-ineligible=\"\" data-ad-loc=\"1\" data-ad-mobile=\"[[5,5]]\" data-ad-ref=\"off\" data-aqa=\"advertisement\" id=\"ad-native-1\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<\/article><\/div>\n<\/section><\/div>\n<footer aria-label=\"Article Comments\" class=\"article-footer\">\n<section class=\"comments__section\" data-aqa=\"viafoura-comments\" id=\"comments\">\n<h3 class=\"widget-title comments-anchor\" id=\"comments-area\">Comments<\/h3>\n<p class=\"comments__section-disclaimer\"> Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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