Sollum Technologies obtains CDN $5M in funding and support from Sustainable Development Technology Canada

The Montréal company will be in a strong position to accelerate
the adoption of its smart LED lighting for greenhouse growers.

MONTRÉAL, June 18, 2020 /CNW Telbec/ - Sollum Technologies is proud to announce that it received $5 million Canadian dollars in funding from Sustainable Development Technology Canada (SDTC). SDTC helps Canadian entrepreneurs accelerate the development and deployment of globally competitive clean technology solutions. Earlier this month, Sollum closed its second round of funding and secured $3.9 million Canadian dollars from Investissement Québec, its initial investors and National Bank.

Sollum was inspired by nature to design the only smart LED lighting solution that dynamically recreates the full spectrum of the sun's light. The company's fully programmable, proprietary technology helps greenhouse growers create customized light recipes to cultivate any produce locally, regardless of its native climate and the location of the greenhouse. SDTC's investment will help Sollum accelerate the adoption of its unique solution, which contributes to seven of the UN's Sustainable Development Goals, such as the viability of food production systems through resilient agricultural practices, the affordable green energy movement, and sustainable consumption and production. Proven benefits from customer and partner facilities so far validate the core concept of Sollum's technology: productivity increases of up to 40%, energy savings of up to 30%, longer food storage life, and improved produce taste and appearance.

"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. We are proud to benefit from SDTC's solid expertise and network to accompany us in commercializing our smart LED lighting on a large scale."
Louis Brun, President and CEO, Sollum Technologies

"Canadian companies like Sollum Technologies are offering real world solutions to sustainable food production through innovative and viable agricultural practices.  With this investment, our government is supporting Canadians as they seize the opportunities created by cleantech, while leaving a cleaner and more prosperous planet for our kids."
The Honourable Navdeep Bains, Minister of Innovation, Science and Industry

"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. Technologies like Sollum's are leading the way to greater sustainability of food production, and this investment will help get it to market.
Leah Lawrence, President & CEO, Sustainable Development Technology Canada

About Sollum Technologies
Inspired by nature, Sollum Technologies was founded in 2015 to offer greenhouse producers the only smart LED lighting solution which dynamically recreates and modulates the full spectrum of the sun's natural light. It is based in Montréal (Québec, Canada), where its design, development and manufacturing activities are concentrated. It works closely with its clients to create recipes adapted to the growth cycle of each product, regardless of its native climate in the world and the location of the greenhouse. Sollum's lighting solutions thereby provide unparalleled value in terms of energy savings, productivity and superior produce quality through a flexible, adaptive and easy-to-use application, with great respect for the environment. For more information, visit sollumtechnologies.com or our LinkedIn page.

About Sustainable Development Technology Canada
Sustainable Development Technology Canada (SDTC) is a foundation created by the Government of Canada to advance clean technology innovation in Canada by funding and supporting small and medium-sized enterprises developing and demonstrating clean technology solutions. Follow Sustainable Development Technology Canada on Twitter: @SDTC or visit www.sdtc.ca.

SOURCE Sollum Technologies

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