Singapore, 12 November 2025 — Antares Ventures, a deep-tech specialist Venture Capital focused on Asia’s Growth Markets, today announced its lead investment in Aslan Renewables (Aslan), a Canada-based deep-tech company unlocking new growth in hydropower by enabling run-of-river hydro energy through scalable, modular systems and advanced digital operations.
The CA$1.25 million financing round, which also includes participation from MaRS Investment Accelerator Fund (IAF) and UCeed Renewable Fund at University of Calgary, will support early deployments and commercial scaling, strengthen Canada’s energy resilience, and position the company for future expansion into Asian growth markets.
Michael Gryseels, Founder and Managing Partner of Antares Ventures, said, “At Antares, we back rigorous, commercially grounded solutions that strengthen energy resilience. Southeast Asia holds vast untapped hydropower potential, yet traditional mega dams are not the answer. Aslan’s modular systems and data-led operations make run-of-river hydro as well as reactivation of dormant sites both practical and scalable—turning static water infrastructure into dependable baseload power for the modern grid.”
Hydropower has long been one of the most overlooked yet proven renewable sources across Asia, including in rural regions. Aslan Renewables brings the right discipline to that problem. Its modular systems and data-led operations make the reactivation of dormant sites both practical and scalable, turning static assets into dependable baseload power.
Andrew Murray, CEO & Founder of Aslan Renewables, said, “Hydropower has powered Canadians for generations. But the era of mega-dams is behind us. By re-energizing thousands of small, dormant sites, we can modernize legacy infrastructure, deploy at speed, and unlock gigawatts of dependable, clean power.”
Aslan Founding Team, led by CEO Andrew Murray
Aslan combines modular hydro hardware with a digital operations layer that enables predictive control, real-time environmental monitoring, and automated compliance. This integration turns legacy water infrastructure into distributed, data-verified power systems that operate with consistency and transparency.
While hydroelectricity has long been a Canadian strength, only 2% of the country’s 50,000 dams currently generate power. By re-energizing thousands of small, dormant sites, Aslan Renewables is addressing this underused capacity with a scalable and environmentally responsible model. Canada offers a powerful proving ground for Aslan’s model, while Asia’s hydropower-rich potential yet underutilized infrastructure present the natural next frontier for deployment.
Last month, Aslan was named the #1 Winner in Energy Transition Track at Climate Impact Innovation Challenge 2025 (CIIC) in Indonesia, hosted by Temasek Foundation and East Ventures. The recognition reflects the company’s technical depth and the relevance of its model to regions facing similar structural challenges, abundant underused water infrastructure, and growing baseload demand.
Michael Gryseels added, “While Aslan’s first deployments are in Canada, the model carries strong relevance for Asia’s growth markets. Recognition at the Climate Impact Innovation Challenge underscores both its scientific strength and the applicability of its approach to regions where underused infrastructure and rising baseload demand converge. Beyond capital, Antares will support Aslan in exploring pathways for Asian market entry, leveraging its Asia Acceleration Model and partnerships across key regional utilities and energy infrastructure operators.”
The participation of MaRS IAF and UCeed Renewable Fund, alongside Antares Ventures, reflects growing investor confidence in global approaches to energy resilience. Together, this round demonstrates how disciplined technology development and credible partnerships can accelerate clean-energy deployment with relevance across North America and Asia.
***
About Antares Ventures
Antares Ventures is a specialist deep-tech venture capital fund with a mission to catalyse the scaling of world-class innovation across Asia Growth Markets. We invest globally in early-growth-stage startups developing transformative technologies across our key thematics of the future of energy & industries, future of cities, future of computing and the future of agrifood. Through our proprietary Asia Acceleration Model and partnerships with leading Asian industrial groups, we bridge world-class innovation with Asia’s growth opportunities.
For more information, visit www.antares.ventures
About Aslan Renewables
Founded in 2019 in Prince Edward Island, Aslan Renewables designs and deploys modern hydro systems that reactivate decommissioned and under-utilized water infrastructure. By combining modular turbine design with advanced monitoring software, Aslan delivers cost-efficient, ecologically friendly, and rapidly deployable power solutions across North America and beyond.
For more information, visit www.aslanrenewables.com
