In January 2023, Sollum Technologies Inc. announced that it has completed a $30 million financing round. This consisted of $25 million from Idealist Capital and $5 million was from Fondaction. This funding will allow Sollum to accelerate its penetration of a growing market by enhancing the competitiveness of its Smart LED solution, and its flexibility through the addition of a multitude of spectral recipes.
Solum Technologies is a Montreal-based lighting manufacturer specializing in smart LED lighting solutions for greenhouse growers.
Idealist Capital is an investment firm that supports accelerating the energy transition and decarbonization through providing growth capital to entrepreneurs.
Fondaction is based in Quebec and is focused on making investments that generate economic, social and environmental impacts in addition to a financial return.
Osler, Hoskin & Harcourt LLP advised Sollum Technologies Inc. with a team consisting of Shahir Guindi, Daniel Stysis and Joshua Blatt (Corporate).