Return to search

NGIF Cleantech Ventures invests in Ionada Carbon Solutions

Calgary-based Ionada Carbon Solutions, a maker of post-combustion carbon capture systems to reduce greenhouse gas emissions, has raised financing.

Calgary-based Ionada Carbon Solutions, a maker of post-combustion carbon capture systems to reduce greenhouse gas emissions, has raised financing. No financial terms were disclosed. The investment was made by NGIF Cleantech Ventures, a Canadian venture capital firm focused on clean technology in the natural gas sector.

PRESS RELEASE

CALGARY, ALBERTA, CANADA, April 27, 2022 /EINPresswire.com/ — Ionada Carbon Solutions Limited (“Ionada”), is happy to announce an equity investment from NGIF Cleantech Ventures (“NGIF”), a Canadian venture capital fund investing in clean-tech innovation in the natural gas sector.

Ionada is a climate technology company that develops, manufactures, and markets post combustion carbon capture systems to reduce greenhouse gas emissions. “This important investment from NGIF Cleantech Ventures is a key step to the commercializing of our technology,” says Edoardo Panziera, Managing Director at Ionada. “We are excited to partner with the NGIF team, to help us scale and apply our technology to the Canadian energy sector. We look forward to this next phase of growth.”

NGIF Cleantech Ventures is a $50 million, industry-led, venture capital fund. That makes equity investments in early-stage startups. The objective of the Fund, is to grow cutting-edge clean technology companies into commercial-scale enterprises. NGIF Clean-tech Ventures, is operated by NGIF Capital Corporation. Which is allied with companies such as ATCO, Canadian Natural, and Birchcliff Energy, just to name a few.

The equity investment will help fund the continued development of Ionada’s compact, membrane modular carbon capture system. To provide a cost-effective solution to the energy and marine markets. Ionada’s membrane CO2 contactors, can remove up to 99% of the carbon dioxides from flue gas. Their CO2 decarbonization system is a sustainable, and environmental solution to reduce carbon emissions. That’s 50% smaller, and 30% more efficient than conventional carbon capture systems.

Ionada is also proud to announce the addition of a new director and board member, Mr. John Adams. John is President, and CEO of NGIF Capital Corporation (NGIF Capital). And Managing Partner at NGIF Clean-tech Ventures. He boasts over two decades of experience in financing, clean-tech, energy, and venture capital. John has successfully led the development of NGIF Capital, an energy tech venture capital firm, and Canada’s largest clean-tech platform for natural gas.

“We were impressed by Ionada’s containerized modular system, that can be easily retrofitted on small to mid-size carbon emitters,” said Adams. “Not only will their technology help remove CO2 from gas industry emissions, but the captured gases will provide feedstock for value-added products.”

He goes on to say… “NGIF Cleantech Ventures was created for, and by Canada’s gas industry. To advance the lowest cost, and lowest emission gas molecules. While simultaneously creating returns for our investors. With its carbon capture solution now in place, Ionada is well-positioned to do both.”

Ionada is actively seeking forward-thinking energy producers to implement its innovative carbon capture systems. For further information please visit http://www.ionada.com.

About NGIF Cleantech Ventures
NGIF Cleantech Ventures is a $50 million industry-led venture capital fund that makes equity investments in early-stage startups. The objective of the Fund, is to grow cutting-edge clean technology companies into commercial-scale enterprises. The Fund’s investments include solutions that lead to emissions reductions, and other environmental benefits in existing natural gas production such as transmission, distribution, storage, and end-use applications. As well as leading to the expanded production of renewable natural gas and hydrogen. NGIF Cleantech Ventures is operated by NGIF Capital Corporation, and wholly owned by CGA Enterprises. A venture of the Canadian Gas Association.

About CGA
The Canadian Gas Association is the voice of Canada’s natural gas delivery industry. Its membership includes natural gas distribution and transmission companies, equipment manufacturers, and suppliers to the industry. Our utility members are active in eight provinces, and one territory, and meet 35 percent of Canadians’ energy needs through a network of over 566,000 kilometers; of underground infrastructure. This infrastructure can also be used to deliver renewable gases including renewable natural gas, and hydrogen. In order to contribute to Canada’s greenhouse gas emission reductions. Today, over 7.2 million customer locations representing approximately two-thirds of Canadians, rely on natural gas for clean, affordable, and reliable heating and power. CGA owns CGA Enterprises, which in turn owns NGIF Capital Corporation.

About Ionada
Ionada is a global climate technology company that develops, manufactures, and markets post combustion carbon capture systems to reduce greenhouse gas emissions. Our sustainable solutions help keep our air and water clean for future generations. Ionada’s team includes scientists, engineers, and technicians that have developed breakthroughs in technologies to reduce carbon emissions. Ionada is the technology leader in delivering innovative sustainable solutions, to reduce carbon emissions from the oil & gas, thermal power generation, waste to energy, hydrogen, steel, cement and marine industries. Ionada’s mission is disruptive sustainability – providing emission abatement technologies that not only reduce emissions, but also provide a financial benefit to our clients. For further information please visit http://www.ionada.com.