G2V, a smart lighting firm is accelerating its global market expansion after raising CA$2.6M (US$2M) in growth funding.
G2V’s growth has been catalyzed by its proprietary leading Engineered Sunlight technology, which is the world’s best sunlight replication for the most demanding applications. Products based on the technology have been used to enable innovation in CleanTech and AgTech – testing satellites for orbital internet delivery programs, developing new solar photovoltaic materials, and enhancing yields of indoor & vertical farmed crops by up to 30%.
Arden Tse, Investment Manager of Accelerate Fund II & III shared, “We’re excited to see our belief in the strength of G2V’s team and technology being proven out as they managed extremely well through last year’s pandemic challenges. The company remained focused on customer acquisition through 2020 and the additional capital secured in this round will propel their ability to service those clients while continuing their growth trajectory.”
Financial support for G2V Optics was also provided by the Government of Canada through Western Economic Diversification Canada (WD). Under its Business Scale-up and Productivity Program, WD is providing a repayable contribution of $1.34 million to enable G2V Optics to increase manufacturing and export capacity of its solar simulation technology.
“Our government is committed to ensuring that Canada’s innovators and entrepreneurs have every opportunity to scale-up, create good jobs, and reach new markets,” said the Honorable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada. “Today’s announcement by a growing company like G2V is further testament to the leading-edge products and services being commercialized in Alberta, and I’m proud that the federal government is playing a role in this success.”