Bridging Canada’s commercialization gap
Dozens of Canadian climate tech companies will be ready to launch commercial-scale deployments in the next few years. That is, if they can cross the “missing middle” — that perilous stage between lab and market when their need for support from investors and institutions is most acute.
The MaRS FOAK Lab was created to help make the journey for founders building first-of-a-kind projects in the $50-million to $200-million range a little easier, by connecting them to domestic and international expertise, financing strategies and cross-sector partnerships they need for their first commercial deployment.
Bridging Canada’s commercialization gap
Accelerator objectives
This accelerator aims to support FOAK deployments in four ways:
- Education: Specialized programming and peer learning sessions will cover project financing, strategic partnerships and the essential steps needed to prepare commercial projects for success.
- Project readiness: Each venture is paired with a team of industry advisors to help produce a financial model and project framework for their FOAK that clearly identifies opportunities and potential risks.
- Connections: Curated introductions and demo days will give ventures access to potential funders, customers and offtake partners, along with legal advisory on IP governance and contracting.
- Visibility: PR support, articles, case studies, speaking engagements and other opportunities will help ventures gain media exposure and increase public awareness of their company.
Accelerator objectives
Michael Wellwood, Carbonova
CFO
Carbonova has pioneered a cutting-edge chemical process using novel catalysts to produce high-purity Carbon Nanofiber (CNF) through advanced catalytic reactions. This breakthrough technology is not only flexible and scalable but also significantly reduces energy demand and costs compared to traditional methods. Carbonova's process stands out for its efficiency, driven by an exothermic reaction, innovative catalyst design, and an integrated waste heat recovery system, resulting in an energy requirement far lower than that of our competitors. Moreover, our CNF actively sequesters carbon during its use phase, making it an ideal solution for industries looking to reduce their carbon footprint while benefiting from the superior performance of advanced materials.

Colin Merril, Exterra Technologies
Chief of Staff
Exterra Technologies is a Québec-based mining technology company developing next-generation mineral processing solutions that enable producers to bring critical minerals to market faster, at lower cost, and with a reduced environmental footprint. Where it creates value, Exterra can also integrate carbon mineralization by converting CO₂ into stable mineral carbonates.
Its technology platform enables the circular regeneration and re-use of key chemical inputs, reducing reagent costs and volatility while lowering waste streams and tailings compared to conventional processing routes. Designed for global deployment, the platform is built on repeatable flowsheet development and a scalable technology licensing model.
Backed by a team with more than 150 cumulative years of experience in mine and process development, including 14 mines built and operated, Exterra is helping modernize mineral processing to strengthen the resilience of critical minerals supply chains.

Gillian Holcroft, Green Graphite Technologies
Co-founder and CEO
Green Graphite Technologies (GGT) is commercializing its cost-effective and sustainable technology to supply high-performance lithium-ion battery (LiB) grade graphite for electric vehicles (EVs), stationary storage and defense markets. The company transforms mined, recycled graphite and gigafactory production scrap into high-purity spherical graphite, leveraging a proprietary purification process with 55% lower operating costs, 82% lower carbon footprint. GGT collaborates with graphite miners and battery recyclers and recently signed an MOU with a leading US chemical manufacturer and a graphite supply agreement from a Canadian miner. GGT’s goal is to become the leading global solution provider for producing LiB-grade graphite. GGT was formed 5 years ago and has raised US$13M inc. with US$10M from non-dilutive government support.

Tom Whitton, Green Graphite Technologies
VP, Project Development
Green Graphite Technologies (GGT) is commercializing its cost-effective and sustainable technology to supply high-performance lithium-ion battery (LiB) grade graphite for electric vehicles (EVs), stationary storage and defense markets. The company transforms mined, recycled graphite and gigafactory production scrap into high-purity spherical graphite, leveraging a proprietary purification process with 55% lower operating costs, 82% lower carbon footprint. GGT collaborates with graphite miners and battery recyclers and recently signed an MOU with a leading US chemical manufacturer and a graphite supply agreement from a Canadian miner. GGT’s goal is to become the leading global solution provider for producing LiB-grade graphite. GGT was formed 5 years ago and has raised US$13M inc. with US$10M from non-dilutive government support.
Heather Ward, Hyperion Global Energy
CEO and Co-founder
Hyperion Global Energy is an Ottawa-based carbon tech startup developing patented Tandem Carbon Recycling© technology—a modular system that captures waste industrial CO₂ emissions and converts them into high-value mineral commodities, targeting a $44B global market. The system is deployed in a containerized, drop-in unit that integrates into existing industrial facilities without construction, complex permitting, or operational downtime. Hyperion is a Top 10 global finalist in the COSIA Carbon XPRIZE and recently completed a successful pilot with Amrize North America (formerly LafargeHolcim), positioning the company for commercial scale-up. Early investors include Techstars, Capital Angel Network, and Thistledown Capital, the decarbonization-focused family fund of Shopify's founder Tobi Lütke. Hyperion’s Tandem Carbon Recycling© systems are Made in Canada, designed and manufactured in Ontario in partnership with local suppliers and skilled trades.

Kelsey Cuddihy, Planetary
VP Internal
Planetary is restoring the ocean’s natural ability to remove carbon dioxide from the atmosphere. Through science-led coastal ocean alkalinity enhancement (OAE), Planetary works with researchers, regulators, communities, and industry to make climate action local, effective, and safe. Planetary's projects are guided by transparency, independent verification, and a commitment to ocean health and community benefit.
