Canadian Startup ColdBlock Technologies Raises $1.5 Million for Global Expansion & Development

ColdBlock Technologies Inc. (ColdBlock), inventor of the innovative sample digestion technology ColdBlock™ Digestion, announced today that it completed a $1.5 million Series A round of financing. The company’s financing results from investments by the Province of Ontario through the Ontario Centres of Excellence (OCE), istarthub, and the Angel Investors Ontario*. With this funding ColdBlock plans to accelerate development of its automation focussed Generation-3 products and to aggressively scale up its overseas market growth.

To deliver automation (pictured) to the global market ColdBlock Technologies is collaborating with Amira Global (Amira) and Questron Technologies. Based on the success of Amira Project P1196, ColdBlock and Amira are working to unveil Amira Project P1196A that will investigate the next generation ColdBlock™ Digestion technology.

Generation-3 Automation Features:

1. Enclosed liquid handling automation
2. Built-in ventilation
3. Automated multi-acid dispensers

Building on the benefits observed in Project P1196, Project P1196A will focus on evolving ColdBlock™ Digestion to further reduce exposure to harmful reagents, improve sample processing time, and reduce cost. The following organizations will benefit from the project:

1. Mining Operations
2. Exploration Stage mining Operations
3. Commercial Laboratories
4. Government Regulatory Agencies

Companies interested in participating in project P1196A should contact Terry Braden, Amira Global Program Manager (terry.braden@amira.global) or Nick Kuryluk, ColdBlock Technologies Inc. CEO (nkuryluk@coldblock.ca). 

“Our fundraising success will accelerate the development of our Generation-3 products to satisfy the automation needs of laboratories.” said Nick Kuryluk, CEO, ColdBlock Technologies. “There’s a rapidly increasing demand for our digestion technology in labs serving metals and alloys, mining, food and agriculture, and pharmaceuticals industries. The new funding allows us to expand our product line to address the market’s need for sustainability and to grow our reach into new territories.”

Key Facts:

• ColdBlock’s Generation-3 product line will deliver the following significant benefits to laboratories that perform sample digestion processes:

1. Unmatched sample throughput with automation
2. Substantial cost reduction in sample preparation
3. Elevated workplace safety by reducing the need for and exposure to harmful reagents
4. Elevated productivity and efficiency

Additional Benefits for Gold Analysis:

1. Elimination of lead waste
2. No lead exposure to employees

• Series A funding breakout:
  • Province of Ontario, through OCE: $250,000
  • istarthub:                                              $250,000
  • Ontario Angel Network:                    $763,626
  • ColdBlock Founders:                         $236,374
• Strategic Partnerships:
  • With leading distributors, ColdBlock is available in North America, South America, Central America, Mexico, Europe, Asia/South-East Asia, Australia, New Zealand, India, Pakistan, Middle East, and Africa.

“OCE is proud to recognize this significant milestone for ColdBlock Technologies as they once again showcase that Ontario innovators are developing the new technologies locally that can transform industries globally,” said Dr. Claudia Krywiak, President and CEO of OCE. “By developing faster, safer and more precise analysis of samples in laboratory settings, ColdBlock is supporting the Province of Ontario’s vision for Made-in-Ontario solutions that benefit industries across broad sectors, including mining, pharmaceuticals, food and agriculture.”

ColdBlock Technologies, is a Canadian-based company that incorporated in 2014. The company has developed ColdBlock™ Digestion, its innovative sample digestion technology that delivered a new performance standard for laboratories serving the metals and alloys, mining, environmental, food and agriculture, and pharmaceuticals industries.

ColdBlock offers a suite of products to suit the sample digestion needs of today’s modern laboratory. The modular design of the current 12- and 15-channel units allows for customization of the sample digestion process depending on the required throughput. For more information, please visit coldblock.ca

* Participating Angel Network regions: Peterborough Region Angel Network, Niagara Angel Network, Georgian Angel Network, Angel One and York Angels.