Evok Innovations
Evok Innovations is a Vancouver-based climate-focused venture capital firm that invests in early- to mid-stage hard-tech companies developing decarbonization solutions for heavy industry across Canada and the United States, operating two funds with a $300M Fund II target.
- Company typePrivate
- Founded2016
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Evok Innovations does
Evok Innovations is a Vancouver-based, climate-focused venture capital firm founded in 2016 that invests in early- to mid-stage (Series A/B) hard-tech companies developing decarbonization solutions for heavy industry across Canada and the United States. The firm operates two funds: Fund I, launched in 2016 in partnership with Calgary-headquartered oil & gas majors Suncor and Cenovus along with the BC CEO Cleantech Alliance, and Fund II, launched in 2022 with a target of USD $300 million and an expanded mandate covering mining and minerals and industrial decarbonization in addition to energy technology.
Evok's portfolio spans four verticals — Energy, Mining & Minerals, Industrial Optimization, and Adaptation & Resilience — and currently includes 30+ companies such as Ebb Carbon (ocean CDR), MineSense (ore sensing), e-Zinc (zinc long-duration storage), Moment Energy (second-life EV batteries), Syzygy Plasmonics (light-driven chemistry), Sanctuary AI (humanoid robotics), Twelve (CO2-to-products), Summit Nanotech (direct lithium extraction), DISA Technologies (critical mineral processing), ZwitterCo (membranes), and Quidnet Energy (geomechanical storage). Several portfolio companies have been named to the Cleantech Group Global Cleantech 100 in 2024, 2025, and 2026, and a WEF Technology Pioneer designation (e-Zinc, 2023). Materialized exits include DarkVision Technologies to Koch Engineered Solutions and the licensing of HARBO's product line to Lamor.
Evok's business model is institutional fund management: it raises capital from strategic energy partners (Suncor, Cenovus, Technip Energies), crown corporations (Alberta Enterprise Corporation, which committed USD $10 million to Fund II in February 2023), and pension funds, then earns management fees plus future carried interest from successful exits. The firm differentiates on a hands-on, operator-led investment model — its partners are described as former industrial operators who serve as extensions of portfolio management teams — and on a domain-specialized thesis that targets proven hard-tech solutions with clear industrial cost advantages, rather than generalist climate investing.
Evok Innovations firmographics
Firmographics- Name
- Evok Innovations
- Legal name
- Evok Innovations
- Website
- http://www.evokinnovations.com/
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Evok Innovations is a Vancouver-based climate-focused venture capital firm that invests in early- to mid-stage hard-tech companies developing decarbonization solutions for heavy industry across Canada and the United States, operating two funds with a $300M Fund II target.
- Ownership category
- akta.pro rank
Evok Innovations industry classification
Industry- Product category
- Cleantech Venture Capital / Hard-Tech Investing
- NAICS
- Portfolio Management and Investment Advice (523940), Other Financial Vehicles (52599)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Impact / ESG Venture Capital (FSANAAAG)
- akta.pro secondary industry
- SDG / Thematic Sustainable Investment Funds (FSANAJAN)
Keywords
Where Evok Innovations is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Evok Innovations business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Venture capital fund management fees and carried interest: Evok raises institutional capital into dedicated cleantech-focused funds (Fund I from 2016, Fund II targeting $300M USD) and earns management fees plus future carried interest from successful portfolio exits. Capital sources include strategic energy partners (Suncor, Cenovus, Technip Energies), financial institutions, crown corporations, and pension funds.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Fund II targeted at USD $300M with LP participation from oil & gas leaders, financial institutions, crown corporations, and pension funds |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Evok Innovations product offering
Product offeringCore offering
Evok Innovations is a Vancouver-based venture capital firm that manages two dedicated cleantech-focused funds (Fund I launched 2016 and Fund II launched 2022 targeting USD $300M) and invests early-to-mid stage (Series A/B) capital in hard-tech startups developing decarbonization solutions for heavy industry across Energy, Mining & Minerals, Industrial Optimization, and Adaptation & Resilience verticals in Canada and the United States.
Product overview
Evok Innovations is a venture capital firm (rather than a traditional software product company) that invests in early- to mid-stage hard-tech companies (Series A/B) in Canada and the USA developing transformative technologies for heavy industry. Founded in 2016, Evok operates through two core investment vehicles — Fund I (2016) and Fund II (2022, targeting $300M) — backing portfolio companies across four focus verticals: Energy (e.g., Moment Energy, e-Zinc, Rodatherm, Zero Industrial, Quidnet Energy, Syzygy Plasmonics, Ekona Power, SensorUp), Mining & Minerals (e.g., MineSense, DISA Technologies, Summit Nanotech, Kelvion), Industrial Optimization (e.g., Sanctuary AI, Twelve, VEERUM, Mosaic, Osperity, Karbonetiq, ARIX Technologies, Allonnia, Expeto, DarkVision Technologies, Rotoliptic, HARBO), and Adaptation & Resilience (e.g., Ebb Carbon, Planetary, ZwitterCo). Fund II specifically targets low-carbon hydrogen, carbon capture and removal, electrification, and critical minerals, with strategic investors such as Technip Energies providing engineering, procurement, and construction capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Evok Fund I Venture capital fund launched in 2016 with a mission to collaborate with industry to scale transformative energy technologies; capitalized by Calgary-headquartered energy heavyweights Suncor and Cenovus alongside BC CEO Cleantech Alliance.
- Evok Fund II Second venture capital fund launched in 2022, expanding the firm's mandate from energy technology to include mining and minerals and industrial decarbonization; targeting USD $300M in capital from strategic LPs including Technip Energies and Alberta Enterprise Corporation.
Quantifiable outcome
- Fund II targeting USD $300M
- +3 more outcomes
Companies that use Evok Innovations
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles2 records
Evok Innovations technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Evok Innovations partnerships and signals
Strategic signalPartnerships
28 partnerships are on record, tiered flagship, core and minor.
- Ebb CarbonflagshipPortfolio company developing ocean-based carbon dioxide removal technology. Microsoft signed a marine CDR deal to remove 350,000 tons of CO2 over a decade; partnered with Saudi Water Authority for desalination decarbonization; secured a 3,500 ton CO2 removal prepurchase with Google.
- Moment EnergyflagshipPortfolio company that repurposes retired EV batteries into commercial battery energy storage systems. Led the US$40M Series B round; the round brought total funding to over US$100M.
- ZwitterCoflagshipPortfolio company providing zwitterionic membrane solutions for water treatment and food/dairy processing. Evok led its $58.4M Series B round; portfolio company subsequently achieved FDA compliance and commercial release of Evolution membranes.
- e-ZincflagshipPortfolio company developing zinc-based long-duration energy storage. Evok led the $31M Series A2 round and is featured on the WEF Technology Pioneers list (2023) and Cleantech Group Global Cleantech 100 (2024, 2025).
- Syzygy PlasmonicsflagshipPortfolio company developing light-driven chemical reactor technology for sustainable aviation fuel, hydrogen, and ammonia. Strategic partnerships include Trafigura offtake agreement and Mitsubishi Heavy Industries investment.
- Sanctuary AIflagshipPortfolio company developing human-like intelligence in general-purpose humanoid robots. Co-founder and CEO Geordie Rose; the Phoenix robot completed first commercial deployment at Mark's retail store in Langley, BC.
- KolomaflagshipPortfolio company focused on geologic hydrogen exploration. Raised a $50M Series B extension round; partnered with Mitsubishi Heavy Industries and Osaka Gas. Named to 2025 and 2026 Global Cleantech 100.
- Summit NanotechflagshipPortfolio company developing direct lithium extraction technology. Closed a US$25.5M funding round and announced a Predictive Modeling Platform; named to Global Cleantech 100 multiple years.
- DISA TechnologiesflagshipPortfolio company specializing in critical mineral processing and uranium remediation using High-Pressure Slurry Ablation (HPSA) technology. Evok led the $30M Series A2 round.
- VEERUMcorePortfolio company providing digital twin SaaS for industrial asset visualization. Evok participated in its $9.3M and $12M funding rounds; 208% YoY growth reported in 2023.
- MineSensecorePortfolio company providing X-Ray fluorescence-based ShovelSense ore-sensing technology mounted on digging equipment for mining operations.
- SensorUpcorePortfolio company providing AI-enabled operational intelligence platform for methane leak detection and emissions management in heavy industry. Evok participated in SensorUp's $12M Series B (2023) and 2026 growth financing.
- Ekona PowercorePortfolio company developing methane pyrolysis technology for clean hydrogen production. Received CAD $79M led by Baker Hughes; BC Cleantech Awards 2022 Rising Star.
- Quidnet EnergycorePortfolio company developing modular pumped hydro/geomechanical long-duration energy storage. Demonstrated MWh-scale operation and completed accelerated lifetime testing.
- RodathermcorePortfolio company developing next-generation geothermal energy technology. Closed a $38M Series A in 2025 with pilot projects in Utah.
- Zero IndustrialcorePortfolio company providing thermal energy storage solutions under long-term Heat-as-a-Service agreements for industrial decarbonization in North America. Evok led the $10M Series A round.
- AllonniacorePortfolio company focused on bioremediation; Evok participated as a strategic investor announced in March 2021.
- TwelvecorePortfolio company (formerly Opus 12) pioneering carbon transformation by converting captured CO2 into jet fuel, plastics, and detergents via electrochemical technology. Headquartered in San Francisco.
- DarkVision TechnologiesflagshipPortfolio company acquired by Koch Engineered Solutions (KES); developed advanced acoustic imaging platforms for non-invasive inspection of energy and industrial infrastructure.
- Planetary TechnologiescorePortfolio company focused on ocean alkalinity enhancement for carbon removal; secured $11.35M Series A in 2024 and delivered first ocean alkalinity credits.
- ARIX TechnologiesminorPortfolio company that graduated from the Shell GameChanger Program in 2021.
- ExpetominorPortfolio company providing enterprise 4G/5G network solutions; announced collaborations with Intel Corporation and Rogers for Business.
- HARBO TechnologiesminorPortfolio company whose product line (HARBO Boom) was licensed to Lamor in March 2021.
- KarbonetiqminorPortfolio company listed on the Evok portfolio page.
- KelvinminorPortfolio company listed on the Evok portfolio page.
- MosaicminorPortfolio company listed on the Evok portfolio page.
- OsperityminorPortfolio company listed on the Evok portfolio page.
- RotolipticminorPortfolio company focused on artificial lift technology; recognized as winner of the Oil Sands Artificial Lift Challenge.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Evok Innovations competitors and assessment
Company assessmentBroad incumbents
- DCVC: Deep-tech venture firm investing in companies using science and engineering breakthroughs to transform industries. Comparable to Evok as a hard-tech focused deep-tech VC, though DCVC operates across a broader set of verticals (computing, biotech, materials) beyond industrial decarbonization.
Direct peers
- Prelude Ventures: San Francisco-based early-stage venture firm investing in climate solutions across energy, mobility, food, and materials. Directly comparable to Evok as a Series A/B climate-tech specialist backing hard-tech founders.
- Breakthrough Energy Ventures: Bill Gates-backed climate VC fund investing across power, transport, buildings, manufacturing, and agriculture. Comparable to Evok as a thesis-driven climate venture investor with a focus on hard-tech decarbonization, though at much larger scale and broader geographic mandate.
- Energy Impact Partners: A climate-focused venture and growth equity firm that raises capital from a coalition of strategic utility and energy corporates. Highly comparable to Evok in its strategic-LP structure, focus on industrial decarbonization, and emphasis on portfolio value-add beyond capital.
- Lowercarbon Capital: Venture firm investing across climate mitigation and carbon removal with a contrarian, founder-friendly thesis. Comparable to Evok in its Series A/B hard-tech climate focus, particularly in carbon removal (Ebb Carbon, Planetary overlap).
- Climate Investment: Climate-focused venture capital firm backed by oil & gas majors (Chevron, BHP, Occidental, Equinor, Aramco) that invests in decarbonization and emissions reduction. Closely comparable to Evok in its fossil-strategic LP base and industrial decarbonization focus.
Emerging players
- Builders VC: Early-stage venture firm investing in technology-driven innovations for the world's largest industries (construction, manufacturing, logistics). Comparable to Evok in its industrial-tech Series A focus and has co-invested in VEERUM.
- Constellation Technology Ventures: Corporate venture arm of Constellation Energy focused on climate and energy technology. Directly comparable as an LP/co-investor alongside Evok in DISA Technologies and an active cleantech Series A participant.
Regional players
- Pender Ventures: Venture arm of PenderFund Capital Management, a Canadian investment firm, focused on early-stage technology. Comparable to Evok as a Canadian institutional VC, recently leading SensorUp's growth financing with Evok participation.
- BDC Capital Industrial Innovation Venture Fund: Crown corporation venture fund backing Canadian industrial innovation. Comparable to Evok as a Canadian institutional investor in industrial technology, frequently co-investing (e.g., with Evok in VEERUM).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Evok Innovations social profiles
Digital presenceEvok Innovations financial estimates
Financial estimateRevenue estimate
Valuation estimate
Evok Innovations leadership team
Management profileNumber of profiles
Profiles13 records
Evok Innovations subsidiaries and ownership
Company hierarchySubsidiaries1 record
Evok Innovations funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Evok Innovations M&A and investment
M&A and investmentM&A
Investments65 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Evok Innovations
What does Evok Innovations do?
Evok Innovations is a Vancouver-based venture capital firm that manages two dedicated cleantech-focused funds (Fund I launched 2016 and Fund II launched 2022 targeting USD $300M) and invests early-to-mid stage (Series A/B) capital in hard-tech startups developing decarbonization solutions for heavy industry across Energy, Mining & Minerals, Industrial Optimization, and Adaptation & Resilience verticals in Canada and the United States.
Is Evok Innovations a public or private company?
Evok Innovations is a private company. It is classified as venture growth investor backed and is currently operating.
When was Evok Innovations founded?
Evok Innovations was founded in 2016. It employs 1 to 10 people.
Where is Evok Innovations based?
Evok Innovations is headquartered in Vancouver, Canada, in the North America region.
How does Evok Innovations make money?
One revenue line is on record: venture capital fund management fees and carried interest.
Who are Evok Innovations's main competitors?
DCVC is listed as a broad incumbent. Direct peers are Prelude Ventures, Breakthrough Energy Ventures, Energy Impact Partners, Lowercarbon Capital and Climate Investment. Emerging players are Builders VC and Constellation Technology Ventures. Regional players are Pender Ventures and BDC Capital Industrial Innovation Venture Fund.
Does Evok Innovations have an API?
No public API is recorded for Evok Innovations.
What industry is Evok Innovations in?
Evok Innovations's product category is Cleantech Venture Capital / Hard-Tech Investing. Its primary akta.pro industry code is FSANAAAG, Impact / ESG Venture Capital, with a secondary code of FSANAJAN, SDG / Thematic Sustainable Investment Funds. Its NAICS code is 523940 and its SIC code is 6282.