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NorthX invests $1.6mn in three Canadian energy storage companies

NorthX Climate Tech commits $1.6mn to three Canadian energy storage firms, supporting the development of localised grid solutions in British Columbia and Alberta.

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NorthX Climate Tech has announced a $1.6mn investment in three Canadian companies developing energy storage solutions, as part of its initiative with public utility BC Hydro. The funding recipients are Vancouver-based FUTURi Power, Richmond-based Foreseeson Technology, and Alberta-based Aqua-Cell Energy. The support aims to accelerate the market deployment of technologies that can strengthen the reliability of the electricity grid in British Columbia.

The funding is part of NorthX’s Call for Energy Storage Innovation, targeting storage technologies, distributed energy resources, and load management systems. Aqua-Cell Energy is currently piloting a saltwater-based storage system in Victoria, designed to provide long-duration solutions without the use of critical minerals. Foreseeson Technology is developing an EV fast-charging system with integrated storage, while FUTURi Power offers a bidirectional energy system transforming EV batteries into grid assets.

Solutions aligned with grid needs

The three selected companies are addressing key challenges in grid modernisation. Aqua-Cell Energy focuses on liquid battery storage for microgrids without relying on rare earths. Foreseeson aims to enable rapid EV charging without overloading the grid, and FUTURi Power facilitates interaction between end users and grid infrastructure through intelligent energy return systems.

BC Hydro confirmed the relevance of these innovations within its demand-side management and infrastructure optimisation strategy. By partnering with NorthX, the public utility seeks to avoid major infrastructure expansions while enhancing grid resilience.

A growth driver for the sector

Since its inception, NorthX has invested a total of $41.2mn across 68 climate tech projects. These initiatives are projected to create over 850 jobs in the next two years and stimulate more than $425mn in additional national investment. The recent energy storage investment confirms NorthX’s strategic focus on grid-impact technologies.

The three supported companies represent different technological approaches but share a common objective: delivering concrete, market-ready solutions to improve the efficiency of Canada’s electricity system in the face of growing demand.

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