Vancouver’s Evok Innovations has landed a USD $10 million investment from Alberta Enterprise in its second fund to continue developing and deploying clean technologies to accelerate the world’s energy transition with a focus on carbon capture, electrification and hydrogen.
Evok is a venture capital firm with deep roots in Alberta. Their first fund was established in 2016 as a partnership between Calgary-headquartered energy heavyweights, Suncor and Cenovus, along with BC CEO Cleantech Alliance.
Evok is targeting USD $300 million for its Fund II and has attracted investment from oil and gas leaders, financial institutions and crown corporations, pension funds, as well as Alberta Enterprise.
“Energy and industrial technology companies make up a substantial part of Alberta’s tech sector, and attracting capital to grow those businesses will help to deliver the energy innovation the world needs,” commented Kristina Williams, CEO of Alberta Enterprise Corporation.
“It is great to see the Evok team doubling down on its investments in Alberta and attracting capital from some of Canada’s most influential investors.”
Led by four partners: Marty Reed, Mike Biddle, Naynika Chaubey and Jane Kearns, Evok has offices in Vancouver, Calgary, Toronto, Seattle, and Silicon Valley.
Through Fund II, Evok will provide funding to early-stage companies based in North America that are commercializing transformative technologies in carbon capture use and storage, low-carbon fuels, clean energy and grid, mobility, industrial innovation, and material and circularity.
Recently, Evok announced its first Fund II investments, which included participation in a USD $50 million round into Calgary-based Summit Nanotech, a direct lithium extraction technology to unlock lithium resources efficiently and sustainably.
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