August 2026
Largest ClimateTech Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Cameco, Waste Connections, Capital Power, TransAlta and Northland Power.
 | Cameco Corp is a provider of uranium needed to generate clean, reliable baseload electricity around the globe and is one of those uranium producers. It has three reportable segments: Uranium, Fuel Services, and Westinghouse, deriving maximum revenue from the Westinghouse segment. The Uranium segment involves the exploration for, mining, milling, purchase, and sale of uranium concentrate, while the Fuel Services segment involves the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services. Westinghouse Electric Company provides products and services to nuclear reactors, including outage and maintenance services, engineering support, instrumentation and controls equipment, plant modification, and components and parts. | $99 | +27% | $43B | $43B | 17.1x | 51.6x | ||
| Waste Connections is a North American waste management company focused on integrated waste collection services. The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth. | $165 | -11% | $42B | $51B | 5.4x | 17.2x | ||
| Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. Through its subsidiary, Capital Power owns and operates a portfolio of natural gas, coal, wind, solar, and solid fuel energy generating facilities. These are located throughout Western and Central Canada and the U.S. Capital Power's natural gas and coal facilities, specifically its Genesee and Shepard sites, account for its electric capacity and cash flow production. The company generates the vast majority of its revenue from sale of electricity and natural gas. The company's customers include a variety of industrial and commercial consumers, independent transmission system operators, and government-owned entities. | $48 | +16% | $7.6B | $13B | 4.7x | 16.9x | ||
| TransAlta Corp is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia. The company has six reportable segments namely, Hydro, Wind & Solar, Energy Marketing, Gas, Energy Transition segment and Corporate Segment. The company generates the majority of its revenue from the gas segment. | $13 | +3% | $4B | $7.5B | 4.3x | 15.3x | ||
| Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company's largest segment over the long term. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia. | $15 | -5% | $4B | $8.6B | 4.9x | 14.6x | ||
| Boralex is a power producer whose core business is dedicated to the development and operation of renewable energy power stations in Canada, France, the United States, and the United Kingdom. Boralex owns power generation assets across four technologies: wind, solar, hydroelectric, and thermal. Substantially all of its operating assets are subject to indexed fixed-price energy sales contracts. | $27 | +28% | $2.8B | $6.2B | 10.2x | 17.4x | ||
| Hydrograph Clean Power Inc is engaged in the acquisition and development of graphene and hydrogen-related products and services. The company's products include Fractal graphene and Reactive Graphene. | $5 | +214% | $1.7B | $1.7B | 39190.0x | (215.1x) | ||
| Ballard Power Systems Inc is engaged in design, development, manufacture, sale and service of proton exchange membrane ("PEM") fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Key geographical revenue is derived from Poland followed by United States, United Kingdom, and other countries. | $3 | +29% | $785M | $299M | 3.0x | (3.5x) | ||
| Computer Modelling Group Ltd is a software and consulting technology company engaged in developing and licensing reservoir simulation and seismic interpretation software. The company also provides professional services consisting of highly specialized support, consulting, training, and contract research activities. The firm has operations in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions. | $3 | -39% | $215M | $231M | 2.5x | 9.0x | ||
| Zefiro Methane Corp provides environmental services focused on methane abatement for industrial oil and gas operations. It operates through three primary operations: detecting and monitoring methane leaks, plugging and retiring abandoned wells, and generating carbon offsets by reducing greenhouse gas emissions. The company’s business model centers on addressing methane emissions from orphaned and abandoned wells across North America, offering solutions that support sustainability goals and provide environmental impact reduction. It has a single segment, being the provider of a range of turnkey solutions to plug onshore oil and gas wells across the Appalachian Basin. The Company’s primary revenue streams include rig services, cementing, transportation, wireline services, and construction. | $0 | -- | $47M | $55M | 1.7x | (9.3x) | ||
| Alchemy Labs Inc is a nanotechnology company. The company is engaged in business of researching, developing and commercializing protective nanocomposite coatings for the automotive and defence markets. | $1 | -- | $35M | $39M | 33.4x | (12.5x) | ||
| Full Circle Lithium Corp is a lithium processor focused on lithium and battery materials reintegration to meet the demand for crucial battery-grade raw materials, utilizing proprietary technology and know-how. Full Circle is focused on three complementary battery material processing divisions: battery recycling from end-of-life lithium-ion batteries, lithium feedstock recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. The company operates in only one reportable segment, being the manufacture and sale of a lithium-ion battery fire extinguishing agent, FCL-X. | $0 | -- | $30M | $30M | 43.2x | (10.7x) | ||
| CHAR Technologies Ltd. is a Canada-based cleantech development and environmental services company. The Company is specialized in high temperature pyrolysis (HTP), converting woody biomass and organic materials into renewable energy (renewable natural gas (RNG) or green hydrogen) and valuable biocarbon (biocoal CleanFyre, biochar, or activated biochar SulfaCHAR). Its additional services include environmental compliance, environmental management, engineering and resource efficiency. The Company's subsidiaries include Char Biocarbon Inc., Altech Environmental Consulting Ltd., Char Technologies Thorold Inc., and Char Technologies USA. | $0 | +12% | $29M | $29M | 18.5x | 92.7x | ||
| International Battery Metals Ltd is a technology and manufacturing company focused on environmentally responsible methods of extracting lithium compounds from brine. Its current operations consist of the development of the MDLE Plant, which can be rapidly deployed and assembled onsite at a customer’s property. The MDLE Plant is designed to process brine solutions to extract lithium chloride, which can be further processed into lithium carbonate and used for industrial purposes or as a battery component. Geographically, the company carries out all its operations in the United States. | $0 | -- | $29M | $19M | 118.1x | 6.0x | ||
| Hypercharge Networks Corp is an electric vehicle supply equipment company that provides turnkey electric vehicle charging solutions. The Company provides turnkey EV charging solutions, for light and medium duty EVs through a managed charging network of EV charging stations that utilize a cloud-based software platform operating site-owner and Company-owned charging stations and provides iOS and Android mobile applications for drivers to operate Hypercharge and Hypercharge roaming partner EV charging stations. It has a single segment, the sale of EV charging equipment, software, services and maintenance contracts. | $0 | -7% | $8M | $6M | 0.8x | (3.4x) | ||
| The Lion Electric Co. includes designing, developing, manufacturing and distributing purpose-built all-electric medium and heavy-duty urban vehicles including battery systems, chassis, bus bodies and truck cabins. The Group also distributes truck and bus parts and accessories. The Group has one reportable operating segment, the manufacturing and sales of electric vehicles in Canada and in the United States. Geographically, the majority of revenue is generated from Canada. | $0 | +23900% | $5M | $5M | ||||
| Atmofizer Technologies Inc is a clean air and clean water solutions provider that is focused on commercializing its proprietary technology through stand-alone, integrated, and licensed applications across business, consumer, medical and industrial applications. The company's products include wearable, portable, and mobile use for personal air treatment, as well as larger systems to handle higher air volumes for commercial, industrial, institutional, and residential applications. | $0 | -- | $430K | $759K | ||||
| Median | $3 | +14% | $215M | $231M | 5.2x | 9.0x |
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