The Conservation Fund provides financial support for innovative electricity conservation technologies, practices, research, and programs that will help Ontario reach its long-term energy conservation goals.
Ontario energy startups take on the world, and win
Tony Dableh (left) and Roumanos Dableh of Fifth Light Technology
Small companies' success demonstrate the importance of early support
The Conservation Fund saw a lot of promise in the technology of three Ontario-based start-ups when it decided to support pilot projects for Fifth Light Technology, REGEN Energy Inc. and Temporal Power Ltd.
About the projects
In 2009, Fifth Light Technology received $250,000 from the Fund to help pilot its web-based dimming and lighting management system at the new Sault Area Hospital. Just three years later, it was snapped up by Cooper Industries, a global leader in lighting systems, and today makes up Cooper’s digital addressable brand. All Cooper’s lighting fixtures now come with Fifth Light’s software controls.
Fund-supported REGEN Energy Inc. attracted international investment by developing a solution that allows small- to mid-sized commercial, industrial and institutional buildings to benefit from demand management and automated demand response. BDC Venture Capital’s Larry Lam says his company invested because it “recognized that REGEN had the potential to be a leader in a rapidly growing and potentially very large global market.”
Engineer and inventor Jeff Veltri developed the prototype for a flywheel – a mechanical battery that can convert electrical energy into kinetic energy, store it, then change it back again as needed - then scaled up the device with $300,000 from the Fund. Now, Temporal Power Ltd. has 20 employees, energy sector investors, and projects that include supplying Hydro One with flywheels to smooth the output of wind turbines.