The government-backed Canada Growth Fund invested US$20 million in the Calgary-based clean-energy firm, while U.S. investment firm Rice—which led the round—contributed US$15 million. The funding will go toward EnerPure’s first commercial oil-recycling facility in Alberta. (The Logic)
BDC Capital’s Growth Venture Fund led the round, with participation from Curql Collective and Gold House Ventures. Helcim plans to use the money to improve customer support and develop products. (The Logic)
Citing “challenging market conditions,” BSTR Holdings, a firm co-founded by the CEO of the Montreal Bitcoin company, announced it has terminated its agreement to merge with special-purpose acquisition company Cantor Equity Partners. The combined company was supposed to hold bitcoin on its balance sheet and sell capital markets products and advisory services. (The Logic)
The chip giant will buy the non-exclusive right to use the San Francisco-based startup’s Model Factory platform, and will offer positions to 109 of its employees, per an investor note obtained by Newcomer. Nvidia is also investing US$1 billion in Poolside at a US$12-billion valuation before the new capital. Poolside did not respond to a request for comment. (Newcomer)
The Business Development Bank of Canada reported $1.04 billion in net income for the year ended March 31, up from $402 million a year earlier, and returned a $75-million dividend to its shareholder, the federal government. The Crown corporation provided $11.6 billion in new financing and investments to Canadian businesses, while its total portfolio grew 3.6 per cent to $50 billion. (The Logic)
Canada-U.S. Trade Minister Dominic LeBlanc returned to Washington, D.C., on Thursday, with the aim of completing negotiations on a bilateral trade deal. Meanwhile, premiers sounded less than unanimous on Prime Minister Mark Carney’s request that they return U.S. alcohol to the shelves of their provincial liquor stores and remove procurement barriers to American firms. (The Logic)
Researchers at the central bank found that about one-third of jobs “may undergo substantial changes” from AI exposure, given what the technology is currently capable of. Jobs with lots of routine and codifiable tasks, such as data-entry clerks, receptionists and accountants, are most exposed, the bank found. Those that rely heavily on judgment, physical interactions or highly specialized skills, such as nurses, teachers, professional athletes and carpenters, are less exposed. (The Logic)
Technology Minister Nate Glubish, who was booed at Wednesday’s town hall, said the government is considering setback provisions to ensure compute facilities aren’t built near residential areas. (The Canadian Press)
The insurer’s alternative-credit arm is aiming to raise its fourth fund under its CQS regulatory capital strategy. It comes less than a year after raising US$1.1 billion for its third fund. (Bloomberg, The Logic)
The Ottawa-based defence company is working on a bid to take over unused automotive manufacturing plants in Canada. If it pursued a deal, it could buy or lease Stellantis’s Brampton, Ont., plant with a coalition of other defence companies, hiring 1,000 Stellantis workers, CEO Eliot Pence told The Globe and Mail. (The Globe and Mail)