# Ekona Power

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ekona-power

- Industry: Renewable Energy
- Headquarters: Burnaby, Canada
- Website: www.ekonapower.com/
- Total disclosed funding: $65M
- Latest round: Series A (Feb 1, 2022)
- Investors on record: 9

## About

Founded in 2017 and based in Vancouver, Canada, Ekona Power Inc. produces clean hydrogen through advanced technology to reduce carbon emissions. In December 2024, Ekona Power Inc. raised USD 1 million in venture funding from returning investors Natural Resources Canada and Alberta Innovates.
 
Ekona's primary product is clean hydrogen, produced through a methane pyrolysis process using the xCaliber reactor. The reactor splits natural gas into clean hydrogen and solid carbon without relying on carbon capture and storage (CCS) infrastructure, clean electricity, or water feedstock. The resulting hydrogen is suitable for large-scale industrial applications, such as agriculture, mining, energy, petrochemicals, and construction.
 
The company plans to utilize December 2024 to improve its technology and carry out a Front-End Engineering Design (FEED) study for a commercial clean hydrogen generation plant in Alberta.

## Funding rounds

- Series A, Feb 1, 2022, $62M — BDC Capital, Mitsui Global Investment, Continental Resources, TransAlta Corporation, ConocoPhillips Technology Ventures, Baker Hughes Company, Severstal Ventures, NGIF
- Seed, Feb 12, 2020, $2.8M — Breakthrough Energy Ventures

## Investors

- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Seed
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- Mitsui Global Investment (https://capitalatlas.ai/funds/mitsui-global-investment) — Series A
- Continental Resources — Series A
- TransAlta Corporation — Series A
- ConocoPhillips Technology Ventures (https://capitalatlas.ai/funds/conocophillips-technology-ventures) — Series A
- Baker Hughes Company — Series A
- Severstal Ventures — Series A
- NGIF — Series A