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🗳️ Question of the Week

Not many Alberta companies make the TSX Venture 50

Last week, the Toronto Stock Exchange released its annual list of top-ranking ventures, based on the companies’ share price appreciation, market cap increase, and Canadian consolidated trading value as of the end of last year.

Forty-six of 50 the companies listed on the TSX Venture 50 are based in Canada, but only five are headquartered in Alberta:

• #2 | Zedcor: Nearly topping this year’s list was Zedcor, a Calgary-based producer of mobile surveillance towers for commercial and industrial applications.

• #14 | Simply Solventless Concentrates: Calgary’s Simply Solventless is a cannabis producer with multiple brands, intended for a more customizable experience.

• #21 | High Tide: This is the second consecutive year on the TSX Venture 50 for Calgary-based cannabis retailer High Tide.

• #39 | Tornado Trucks: Headquartered in Calgary and with a production facility in Red Deer, Tornado Trucks is a manufacturer of advanced hydrovac trucks and infrastructure equipment.

• #44 | American Creek Resources: Based in Cardston, in southern Alberta, American Creek Resources is a gold mining company operating in B.C.

This year it was Newfoundland’s Kraken Resources that took home top prize. Kraken is a marine tech company that develops subsea sensors, batteries, and robotic systems. The organization counts the Government of Canada, Danish Ministry of Defence, Royal Navy, Australian Department of Defence, Lockheed Martin, and Boeing amongst its clients and partners.

🤝 Funding, Deals, and Partnerships

• PrairiesCan doles out $6.7 million to help four Edmonton companies scale and expand into new markets. Levven Electronics, Care Group, Demir Engineering, and Grengine will benefit from the latest federal funding. Betakit

• Alberta invests $55M to boost tech innovation, lower emissions. The funding is being distributed into 15 different projects including Calgary’s Fish Creek wastewater treatment plant which is getting efficiency upgrades that have never been seen before in the province. City News

• Federal government invests in rural transit solutions across Alberta. Six rural communities across Alberta will see improvements to local public transit services, after an investment of more than $3.4 million from the federal government. Government of Canada

📰 Need To Know

• Calgary saw major growth in venture capital deals in 2024. New numbers show that of the 84 deals and $698 million invested last year, 63 and $630 million were for Calgary firms. Livewire Calgary

• Calgary fintech Reach readies for expansion following influx of capital from Primus. Reach leverages partnerships with currency exchange providers to offer customers exchange rates that are guaranteed for up to 90 days. Calgary.Tech

• D-Wave and Staque announce new hybrid-quantum application for autonomous agriculture vehicles. An app built with Verge Ag and supported by Canada’s Digital Global Innovation Cluster simulates and improves in-field operations of autonomous and semi-autonomous machines at scale. D-Wave Quantum

• Calgary entrepreneur launches SageMaster AI to help students enter Canadian workforce. The startup was launched by engineer Neji Tawo, who previously worked on AI innovation built around Amazon’s Alexa product. Calgary.Tech

• Cleantech helping Calgary construction industry. A project to create stronger cement with byproducts of the energy sector is being used on roads and buildings here in Calgary. CTV News

• Was it worth it? Calgary small businesses weigh in as Canada’s GST holiday ends Saturday. The two-month tax reprieve has many Albertans scratching their heads as to whether or not the program was a success. CTV News