Serenity Power, a cleantech startup operating between Calgary and Toronto, has raised $1.16 million CAD in a pre-seed funding round to further develop its remote power technology and scale its team.
The round was led by Avatar Ventures and was reportedly oversubscribed, with participation from Antimo, RPV, Front Row Ventures, The Firehood, Rep Matters, and a Toronto-based climate tech venture capital firm that was not disclosed. CFO Bryan Trudel will join the company’s board as part of the investment.
What The Company Does
Serenity Power is developing solid oxide fuel cells (SOFCs) designed to replace diesel generators and traditional combustion-based power systems with lower-emission alternatives. The company’s technology is focused on providing remote and distributed energy solutions that can operate using a range of fuels, including natural gas, hydrogen, methane, and blended fuel sources.
Unlike hydrogen-only fuel cell systems, Serenity’s approach prioritises fuel flexibility, aiming to reduce costs while improving practicality for deployment in industrial and off-grid environments. The systems are designed to support real-world applications where reliability, transportability, and fuel availability are key constraints.
The company is currently transitioning from laboratory validation toward building its first commercial-scale fuel cell systems.
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Market Context / Industry Background
Remote and distributed power generation remains heavily dependent on diesel generators in many industrial and off-grid applications, despite growing pressure to reduce emissions. As energy transition targets tighten across North America and Europe, there is increasing demand for alternative technologies that can decarbonise backup and remote power without sacrificing reliability.
Solid oxide fuel cells are seen as one of the more promising long-duration clean energy technologies due to their efficiency and ability to use multiple fuel types. However, commercial deployment has been limited by cost, engineering complexity, and challenges in scaling from laboratory prototypes to field-ready systems.
In parallel, cleantech investment cycles have become more volatile in recent years, with some segments experiencing reduced funding availability. Despite this, early-stage hardware-focused climate technologies continue to attract targeted capital, particularly when supported by government grants and non-dilutive funding sources.
Serenity Power has also secured approximately $900,000 CAD in non-dilutive funding from organisations including Alberta Innovates, the Natural Gas Innovation Fund, Innovate Calgary, Mitacs, and the Innovation Asset Collective.
Founder / Investor Commentary
Co-founder and CEO Aleisha Cerny said the company is now moving from lab-scale validation to commercial prototype development.
“We have demonstrated our innovations on the lab scale … and now we’re building the first commercial fuel cells,” she said. “The future of development looks like building bigger fuel cells, building the company’s first stack, and then building out the system around that.”
She added that the company is focused on progressing toward full system integration and real-world deployment through pilot projects with industrial partners.
“We’re converting that into a production unit for our customer in Italy, and replicating that for a customer in Alberta.”
Cerny also noted that securing funding in the current climate tech environment was challenging, pointing to reduced investor appetite earlier in the year, but said the outcome reflects continued belief in the underlying technology and business case.
Growth Plans / Use Of Funds
The new capital will be used primarily to build Serenity Power’s first working prototype, advance systems engineering, and conduct field demonstrations with industry partners. A key technical milestone is the development of the company’s first full fuel cell stack and integrated system.
Serenity is working with Calgary-based Exergy Solutions to support system design and procurement. The goal is to complete initial testing by mid-year, followed by deployment into pilot projects in Italy and Alberta.
Part of the funding will also be allocated to expanding the team. The company is currently in the process of hiring a Chief Technology Officer and plans to bring on additional research staff to support engineering and development efforts.
Looking ahead, Serenity is preparing for a potential seed round in early next year, with a target of around $5 million to scale system design and accelerate customer delivery timelines.
About Serenity Power
Serenity Power is a Canadian cleantech startup based in Calgary and Toronto that develops solid oxide fuel cell systems for low-emission remote and distributed energy generation. Founded to reduce reliance on diesel-based power systems, the company focuses on building fuel-flexible energy solutions that can operate on multiple fuel types, including hydrogen, methane, and natural gas. Its technology aims to support industrial and off-grid applications through scalable, lower-emission power systems designed for real-world deployment.
