Montreal tech company Sollum has found itself in a strong position going forward. With a new $5 million investment it will look to accelerate adoption of its smart LED lighting for greenhouse growers.
The new cash comes from Sustainable Development Technology Canada (SDTC). SDTC helps Canadian entrepreneurs accelerate clean technology solutions.
“Our company is building on strong momentum. We see this commitment from SDTC as a clear vote of confidence in the potential of our technology and its contribution to addressing climate change and food autonomy,” said CEO Louis Brun.
Earlier this month, Sollum closed its second round of funding, grabbing $2.7 million from Investissement Québec, along with its initial investors and National Bank.
Sollum says its smart LED lighting solution “dynamically recreates the full spectrum of the sun’s light.” The company’s technology helps greenhouse growers create customized light recipes to cultivate any produce, regardless of its native climate and the location of the greenhouse.
Sollom says its “proven benefits from customer and partner facilities so far validate the core concept”. To that end they say their technology has led to productivity increases of up to 40 percent, energy savings of up to 30 percent, longer food storage life and improved produce taste and appearance.
“Canadian cleantech entrepreneurs are tackling problems across Canada and in every sector. I am encouraged that this unprecedented economic climate has shone a spotlight on the importance of local food production and its impact on the economy and the environment,” said SDTC’s CEO, Leah Lawrence.