Canadian firm raises $1.83M to advance wave energy tech

Voltai, a Canadian cleantech company focused on ocean and renewable energy solutions, has closed an oversubscribed $1.83 million pre-seed financing round.

Invest Nova Scotia led the round, with additional participation from an angel investor group headed by Mahir Sahin, former advisor to Alphabet’s Moonshot Factory X (formerly Google X) and founder of Cloudberry Ventures.

“Voltai’s electrostatic generator, with its unique energy conversion mechanism, makes wave energy conversion efficient and cost-effective,” said Jen Fuccillo, Investment Principal at Invest Nova Scotia.

According to Voltai, the new funding will accelerate technology development and commercialization within the maritime sector.

“The support we’ve received from Invest Nova Scotia and our investors is both exciting and validating,” said Maja Maher, CEO and Founder of Voltai.

“It reinforces our belief in this technology and its potential to help the shipping industry reach its net-zero targets. This funding allows us to fast-track our development and bring real, scalable solutions to a sector that urgently needs them.”

Voltai said that its electrostatic generators capture kinetic energy from waves and vessel movements, converting it into electricity. Designed for onboard use, the system can be installed on moving