A Calgary-based cleantech company is charging ahead with ambitious plans to transform how Canada generates power, announcing it has closed a $1.16-million CAD pre-seed funding round that validates years of research and positions the startup for rapid expansion.
Serenity Power, which operates dual hubs in Calgary and Toronto, has developed solid oxide fuel cells (SOFCs) designed to displace diesel and conventional combustion generators with significantly cleaner alternatives. The technology's flexibility—capable of running on natural gas, hydrogen, methane, or blended fuels—gives it a competitive edge in a market increasingly focused on emissions reduction.
Investment Momentum in Uncertain Times
The funding round, led by Avatar Ventures with CFO Bryan Trudel joining the board, was oversubscribed—a strong signal of investor confidence. Additional backing came from Antimo, RPV, Front Row Ventures, The Firehood, Rep Matters, and an unnamed Toronto-based climate tech venture capital firm.
The pre-seed capital builds on $900,000 CAD in non-dilutive funding Serenity previously secured, including $300,000 from Alberta Innovates, $230,000 from the Natural Gas Innovation Fund, and support from Innovate Calgary, Mitacs, and the Innovation Asset Collective.
"When we kicked off in January, because of the political environment, a lot of climate tech investors had mass layoffs and were holding their money. Being able to complete this round with investors who still believe in the technology and the business case means so much."
— Aleisha Cerny, CEO and Co-founder, Serenity Power
From Lab to Market: Summer Rollout Planned
Serenity's immediate priorities include accelerating development of its first working prototype, advancing systems engineering, and executing field demonstrations with industry partners. The company has partnered with Calgary's Exergy Solutions to design and procure the system components.
If the timeline holds, the first commercial-scale fuel cell system should be ready by July, with pilot projects launching in Italy and Alberta by fall. The company is already in negotiations to hire a Chief Technology Officer and plans to bring on several research assistants.
"We've proven our innovations work at lab scale," Cerny said. "Now we're building the first commercial fuel cells. The path forward involves building bigger fuel cells, creating our first stack, and then engineering the full system around that."
Seed Round Already on the Horizon
Remarkably, Serenity is already eyeing its next funding milestone. The company is targeting a seed round in the first quarter of 2026, aiming to raise $5 million to further scale system design and accelerate customer order fulfillment.
For a startup operating in the cleantech sector—where investor sentiment has been volatile—Serenity's success in securing funding demonstrates renewed confidence in clean energy solutions that actually work at scale. The company's focus on practical, fuel-flexible technology addresses a genuine market need as industrial operations seek cost-effective alternatives to traditional generators.
This story was originally reported by BetaKit. Read the full story at BetaKit. BetaKit's Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.