The transportation startup’s investors include the Business Development Bank of Canada, the Center of Excellence in Energy Efficiency and Investissement Québec. Effenco said the financing round will help it open a Norwegian office to expand its European salesforce. (The Logic)

Talking point: Effenco is one of the only Canadian companies in the cleantech trucking space—it created a system, similar to hybrid cars, that turns off the engine of a heavy-duty vehicle every time it comes to a stop. Its technology can be used in big tractors that operate in ports, for example. The demand for clean technology in the transportation sector is huge—it is the among the highest contributors to greenhouse gas emissions in Canada. Though Effenco is an early mover in the space, most auto giants have already developed or are in the process of developing hybrid and electric trucks. Effenco, however, is banking on its cost-effectiveness to stand out from the pack, claiming that it offers the cheapest EV technology in terms of dollars per ton of CO2 emissions avoided.