"I'm gonna raise a fuss,
I'm gonna raise a holler.
About working all summer,
Just to try and earn a dollar." Eddie Cochrane, Summertime Blues
It may be raining today, but it's about to get hotter again. The weather report? Or the clean technology sector report? The analogy holds true for both. As you have seen on Technically Hip, I like lists. Especially the ones that I get to make. Business in Vancouver has lists. Tech Vibes and T-Net have lists. BC Business always gets its biggest audience when it publishes its Top 100 (as it did this month). My good freinds at Rocketbuilders have the Ready to Rocket list. Currently you can see my Top 11 Internet media companies, Top 11 Alberta tech companies, 11 biggest M&A deals in Western Canada and the 11 most recent technology financings. Why 11? It's an homage to my favourite line in one of my favourite movies - This is Spinal Tap. If you don't get the reference, go watch the movie.
My crack research team has been busy in June and July, compiling data on the clean technology companies of BC to see who will make my list of the Hottest companies. The criteria is simple: I think they are promising. OK, there is some science. They are early or growth stage companies, not massive public companies. They are growing rapidly, in sectors that investors are caring about now and/or they have potentially game changing technology. The weaher analogy is based on the fact that clean technology hit a massive bump in the road in 2008 and early 2009. Funding in clean technology companies in the US suffered an 80% drop in Q1 2009 from the previous quarter! The only clean technology companies in Western Canada getting money in the first half of 2009 were Lignol ($2m from SDTC) and Sustainable Energy tech in Alberta ($7.6M). On top of that, oil hit $35 a barrel and one of clean tech's hottest subsectors for the past 5 years fell massively out of favour: the biofuels sector (specifically Ethanol production).
But the sun is coming out. Without further adieu, here is the list:
1) General Fusion - I can't help it. This "swing for the fences" company could change the world. Based on sheer audacity (as well as the fact that it just might work), they are #1 in my books.
2) Nexterra Energy - I know I said biofuels weren't hot, but Nexterra is different. Using mainly wood residuals, they make closed loop gassification systems that power industrial facilities.
3) Exro Technology - Variable input generator that is more suited to wind power and run of river electricity generation where the input is not always constant.
4) Light Based Technologies - Controllers for the future of energy efficient lighting, the LED.
5) Delta-Q Technologies - Already a powerhouse in off-road electric vehicles, this grid-connection battery charging company is headed into electric automobiles in a big way. *
6) Switch Materials - Window dimming technology from SFU that can replace office and residential windows as well as sell into new developments.
7) Azure Dynamics - at the forefront of electric vehicles, focused on fleet and transportation markets, where thy will roll out first.
8) Pulse Energy - Energy management software for controlling energy in large buildings.
9) Energy Aware - Elegant devices for residential customers of utilities to see thier energy consumption. Showcase is Olympic Village housing.
10) Tantalus Systems - Smart meters for a smart grid, utilizing wireless to connect your electric meter to the utility in real time.
11) Carbonetworks - Carbon footprint management software as a service for utility, industrial and commerical markets.
* - current client of mine at Capital West
If you feel I have missed a clean technology nugget, e-mail my crack researchers at brent.holliday@gmail.com