Best Energy Storage Tech Companies in Ontario, Canada
The 62 best Energy Storage Tech companies in Ontario, Canada in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Hydrostor.
Our analysis of 50 Energy Storage Tech companies
$13.7b in tracked funding; 88% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Energy Storage Tech companies in Ontario
| # | Company | Disclosed funding | Last round | Employees | Founder | Tech stack | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Hydrostor Developer of advanced compressed air energy storage for grid applications 76Funding top 18%Product top 21%Talent top 23%Innovation top 26% All 11 signals ▾Fundingtop 18% Producttop 21% Talenttop 23% Innovationtop 26% Patentstop 26% Moattop 26% Growthtop 28% Techtop 40% Newstop 42% Marketbottom 44% Globalbottom 40% Funding: Raised $295M across 10 rounds · 10 rounds over 10 yrs (1.0/yr) Product: 4 distinct product lines · Company stage: Series D rank vs industry peers · Fliar Intelligence Index 76/100 | $295M | 16 mo ago | 60 | Cameron Lewis Co-Founder | WordPressApple iCloud MailMicrosoft 365+27 | 123 patents Underground hydrostatically compensated compressed air energy storage systems | 1 job opening · 1 award |
| 2 | Next Hydrogen Developer of water electrolyzer technology for green hydrogen production solutions | $69M | 6 mo ago | 42 | Jim Hinatsu Founder | WordPressMySQLPHP+23 | 70 patents Optimizing wind‑powered hydrogen electrolysis via power dispatch, pressure plates, and reinforced electrolyzer modules. | — |
| 3 | e-Zinc Provider of rechargeable zinc batteries | $62M | 24 mo ago | 82 | James Larsen CEO | WordPressApple iCloud MailMicrosoft 365+21 | 19 patents Advanced zinc‑based rechargeable battery cathodes and electrolyte management systems. | — |
| 4 | Electra Battery Materials Provider of materials for electric vehicle batteries through refining and recycling 57News top 22%Growth top 25%Partners top 25%Funding top 29% All 8 signals ▾Newstop 22% Growthtop 25% Partnerstop 25% Fundingtop 29% Talenttop 37% Techbottom 48% Marketbottom 42% Globalbottom 36% News: 68 BI events in 12 mo (of 238 tracked, 10 types) · +106% YoY Growth: Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 57/100 | $60M | 8 mo ago | 37 | Trent Mell CEO | PHPCentOSVimeo+18 | — | 1 expansion |
| 5 | Hydrogenics Makes fuel cells and hydrogen energy storage | $46M | 74 mo ago | 187 | — | — | 447 patents Hydrogen generation and fuel‑cell power systems, focusing on electrolyzers, bipolar plates, and thermal management. | — |
| 6 | SWTCH Provider of EV charging management systems | $38M | 12 mo ago | 76 | Carter Li CEO | RubyAuth0Auth0 Lock+31 | — | 1 partnership |
| 7 | Electrovaya Manufacturer of lithium-ion battery technology and energy storage systems | $37M | 20 mo ago | — | Sankar Gupta Co-Founder & CEO | WordPressMySQLPHP+19 | 86 patents Advanced lithium‑ion battery safety, separator materials, and leakage‑detection management systems. | 4 job openings |
| 8 | ChargeLab Provider of electric vehicle station management solution | $30M | 38 mo ago | 48 | Ehsan Mokhtari Co-Founder & CTO | HubSpot CMS HubApple iCloud MailGoogle Workspace+26 | — | 1 launch |
| 9 | FuelPositive Provider of green ammonia | $20M | 18 mo ago | 9 | — | WordPress Block EditorwpBakeryElementor+37 | 15 patents Modular on‑site production of clean hydrogen and ammonia using electrolysis and nitrogen fixation | — |
| 10 | QD Solar Developer pof quantum dot-based photovoltaic cells | $8M | 51 mo ago | 12 | — | — | 12 patents Surface‑engineered colloidal quantum dots for high‑efficiency solution‑processed photovoltaics | — |
| 11 | Hydrogen Optimized Provider of electrolysis-based hydrogen generation systems | $5M | 58 mo ago | — | Edward Stuart Vice President Development | Wix eCommerceWixSentry+20 | — | — |
| 12 | ChargerQuest Operator of electric vehicle charging solutions | $3M | 61 mo ago | 3 | Christopher Misch Founder & CEO | — | — | — |
| 13 | Gbatteries AI-based lithium-ion battery charging solutions for electric vehicles | $3M | 75 mo ago | 43 | Kostyantyn Khomutov Co-Founder | Webflowcore-jsjQuery+6 | — | — |
| 14 | ReliON Platform offering charging management solution | $2M | 23 mo ago | — | Jesse White Co-Founder & CTO | WordPress Block EditorWordPress Site EditorWordPress+31 | — | 2 launchs |
| 15 | Voltra Developer of modular EV and energy system control software | $2M | 13 mo ago | — | Alexander Stratmoen Co-Founder | Framer SitesReactPriority Hints+7 | — | — |
| 16 | Panacis Developer of Light weight battery pack for defense applications | $2M | 158 mo ago | 7 | — | — | 42 patents Battery safety monitoring and failure detection for UAV and mission‑critical power packs | — |
| 17 | Kiwi Charge Platform offering a subscription model for electric vehicle charging | $500K | 4 mo ago | — | Abdel Ali Founder | TurbopackNode.jsRadix UI+9 | — | 1 job opening |
| 18 | Aluma Power Developer of aluminium air battery | $150K | 15 mo ago | 44 | Paul Simpson Founder – Board Director | WordPressMySQLPHP+22 | — | 3 launchs · 1 award |
| 19 | nectar Provider of electric vehicle charging solutions | $100K | 37 mo ago | 5 | — | — | — | — |
Top 12 Energy Storage Tech companies in Ontario
#1
Public · Mississauga, Ontario · founded 2007 · 42 employees$69Mraised▾
Developer of water electrolyzer technology for green hydrogen production solutions. The company focuses on cell design architecture to reduce clean hydrogen generation costs. It aims to enable widespread adoption of hydrogen solutions for global decarbonization. The company's innovation provides operational flexibility to capture renewable energy output.
- Dec 2025Post IPO$15M
- Dec 2024Post IPO$1.9M
- Nov 2024Post IPO$2.2M
- Jul 2023Grant (prize money)—
#2
Public · Toronto, Ontario · founded 2017 · 37 employees$60.3Mraised▾
Provider of materials for electric vehicle batteries through refining and recycling. The company focuses on producing materials to power electric vehicles through refining, processing, and recycling. It offers an environmentally conscious option for sourcing materials. The company advances capital projects and delivers operational excellence.
- Oct 2025Post IPO$34.5M
- Apr 2025Post IPO$1.6M
- Mar 2025Post IPO$3.1M
- Feb 2025Grant (prize money)$10M
#3
Series D · Toronto, Ontario · founded 2010 · 60 employees$295Mraised▾
Developer of advanced compressed air energy storage for grid applications. The company provides long-duration energy storage solutions, leveraging compressed air stored in underground caverns. When power is needed, the process is reversed to dispatch energy. The technology offers a reliable and cost-effective alternative for large-scale energy storage. The company’s systems are designed to match grid requirements and provide essential grid services.
- Feb 2025Series D$150M
- Feb 2025Conventional Debt$50M
- Oct 2024Series D$20M
- Dec 2023Series D$40M
#4
Series B · Toronto, Ontario · founded 2018 · 76 employees$38Mraised▾
Provider of EV charging management systems. Its features include an EV charging platform that optimises charging and revenue management for property owners. It networks chargers with the internet to enable remote monitoring, access control, energy metering, billing and payments. Its app enables the monitoring and management of charging. It is available across both Android and iOS platforms.
- Jun 2025Series B$4M
- Apr 2024Series B$27.2M
- Apr 2022Series A$10M
- Apr 2022Conventional Debt$3M
#5
Public · Mississauga, Ontario · founded 1997$36.8Mraised▾
Manufacturer of lithium-ion battery technology and energy storage systems. The company provides battery systems for various applications, including material handling, e-mobility, and grid-scale energy storage. It offers battery modules and cells using lithium-ion ceramic technology. The company focuses on providing safe and long-lasting battery solutions.
- Oct 2024Grant (prize money)$1.5M
- Nov 2022Post IPO$10.9M
- Sep 2019Conventional Debt$4.1M
- Aug 2019Conventional Debt$1.1M
#6
Series A · Toronto, Ontario · founded 2012 · 82 employees$61.8Mraised▾
Provider of rechargeable zinc batteries. The company offers e-Zinc - an energy storage battery using zinc metal and electrochemical technologies for charging and storing energy.
- Jun 2024Series A$31M
- Oct 2022Venture Debt$7M
- Apr 2022Series A$25M
- Jan 2021Series A$2.3M
#7
Public · Toronto, Ontario · founded 2000 · 9 employees$19.9Mraised▾
Provider of green ammonia
- Dec 2024Post IPO$569.4K
- May 2024Post IPO$1.1M
- Feb 2024Post IPO$1.9M
- Jul 2023Post IPO$2M
#8
Seed · Toronto, Ontario · founded 2023$500Kraised▾
Platform offering a subscription model for electric vehicle charging. It provides portable chargers delivered to customers. It offers Charging-as-a-Service for EV owners in existing buildings that lack the charging infrastructure due to retrofit costs and EV adoption.
- Feb 2026Seed$500K
#9
Seed · Waterloo, Ontario · founded 2023$1.8Mraised▾
Developer of modular EV and energy system control software. It provides a full-service CPMS (Centralized Power Management System) designed for developers. The software offers a suite of APIs and UIs allowing for flexible integration with existing systems. Its modular design enables users to select and integrate only the necessary components, avoiding the need for complete software overhauls. The platform supports various applications, including condo charging, fleet management, and integration with charging networks and utilities. The software is built for real-world deployments and is already powering infrastructure across diverse sectors.
- May 2025Seed$1.8M
#10
Seed · Ottawa, Ontario · founded 2023$2.2Mraised▾
Platform offering charging management solution. It offers various solutions including charger monitoring, charger equipment management, field interventions, and more. The platform takes care of the operation and maintenance process.
- Jul 2024Seed$2.2M
- Aug 2023Grant (prize money)$16.9M
#11
Series A · Toronto, Ontario · founded 2019 · 48 employees$30Mraised▾
Provider of electric vehicle station management solution. It offers an OCPP-compliant software that manages, controls, and monetizes the EV charging stations. It also offers turnkey Level 2 and Level 3 EV charging infrastructures for offices, buildings, and homes.
- Apr 2023Series A$10M
- Apr 2023Venture Debt$5M
- May 2022Series A$15M
- Feb 2021Seed$4.3M
#12
Seed · Sarnia, Ontario · founded 2017 · 44 employees$150.3Kraised▾
Developer of aluminium air battery. Uses replaceable aluminium anode & a proprietary cathode & a slow eroding anode. Employed galvanic control process for even corrosion of aluminium anode which produces DC current due to interaction with the electrolyte. Claims that the aluminium gradually erodes by producing recyclable effluent & can be recharged in seconds. Can be used for e-vehicles, hybrid cars, and off-grid systems. The company is a joint venture between Space Technology Holdings and Sheertech.
- Mar 2025Seed$150.3K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Energy Storage Tech coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
What Ontario researches in energy storage
- Ontario Tech University23
- University of Ontario Institute of Technology13
- Ontario Power Generation1
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.