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Argentum Electronics Wins N100, Secures $250,000 Investment

Northumberland
CFDC today announced that Argentum
Electronics is the winner of its 2018 $250,000 N100
Evolution technology startup competition. The multi-stage
competitive gauntlet began in July 2018 at Venture13
in Cobourg, with a total of 44 startups competing at the outset.
Argentum Electronics has designed a product line of Power-over-Ethernet
(PoE) technologies and smart power management solutions, working within
an ecosystem of innovative architects, builders and producers.

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https://www.businesswire.com/news/home/20190115005100/en/

CEO Bolis Ibrahim of Argentum Electronics pitches at Venture13 as part of N100 Evolution. (Photo: Business Wire)

The startup and its Founder and CEO Bolis Ibrahim were already on a
major winning streak leading up to N100 Evolution, previously garnering
multiple accolades, such as the Norman Esch Engineering and Innovation
Award, Ontario Centres of Excellence David McFadden Energy Entrepreneur
Challenge, the RECODE Social Innovation and Entrepreneurship Award, the
Global Student Entrepreneur Award and most recently, the company took
home a Gold Medal in Korea Electric Power Corporation’s (KEPCO)
digital transformation conference held in Gwangju this past October.

With an impressive patent portfolio, backed by partnerships with Microsoft’s
IoT & AI Insider Lab in Redmond, Washington, with early support
from the Impact
Centre at the University of Toronto and Ryerson University’s Clean
Energy Zone, and accelerated by a successful customer demonstration
project with WZMH
Architects, Argentum Electronics is going to market now with a
significant boost from N100. And with their win, company operations are
coming to Venture13 where Argentum Electronics is immediately hiring for
technical positions (click
here to apply via Angel List).

Following a recent $2 million solar-powered electric vehicle charging
station funding announcement at Venture13 by MP for
Northumberland-Peterborough South, Kim Rudd (click
here to view the release) N100 continues the momentum with Argentum
Electronics as we work together to realize a smarter, greener, more
efficient and dynamic future.

“We are excited about Argentum Electronics’ PoE technologies and the
opportunity for collaboration with local firms and organizations devoted
to industrial innovation,” said Northumberland CFDC Executive Director
Wendy Curtis. “Congratulations to Bolis Ibrahim for your exemplary
performance in N100 and we look forward to playing a major role in your
advancement.”

“Winning the N100 competition is a game changer for us,” said Bolis
Ibrahim, Founder and CEO of Argentum Electronics. “With this capital
injection we will be able to get our Smart Power over Ethernet
Controller (SPEC) product line ready for manufacturing and market entry.
Ultimately this will put our company in a highly investable position. We
are grateful for all of the support we’ve received from Northumberland
CFDC, the N100 Power Panel, and our mentors in this journey.”

In addition, all eligible N100 Evolution Semi-Finalists are now
pre-qualified for up to $30,000 in matching seed funding from
Northumberland CFDC’s $2.2 million N1M initiative, with increased
support from the Federal Economic Development Agency for Southern
Ontario (FedDev Ontario) also recently announced by MP Kim Rudd (click
here to view the release).

Through N100 and all of its programs, Northumberland CFDC endeavours to
add value to entrepreneurs through funding, financing and
entrepreneurial development opportunities in a continuous effort to
strengthen the chain of innovation in Northumberland and across Ontario.

About Northumberland CFDCLocated at the Venture13
innovation centre in Cobourg, Ontario, Northumberland Community Futures
Development Corporation (Northumberland CFDC) provides financing and
strategy for entrepreneurs as a pathway to future prosperity, delivering
local and regional programs including N100, N1M, the Nventure Angel
Sidecar Fund, EODP, CEDP and the core Community Futures Program, with
the support of the Federal Economic Development Agency for Southern
Ontario (FedDev Ontario). For more, visit Northumberland CFDC’s website (click
here).

About N100Launched in 2013, N100 Evolution is the sixth
edition of Northumberland’s open invitational technology startup
competition at Venture13. N100 Startups compete for a $250,000
convertible note from Northumberland CFDC through a series of challenges
from the pitch competition to business planning and board room
presentations, with entrepreneurial development and support along the
way from the Power Panel, advisors and partners. N100 is a biennial
competition starting up again in 2020, and proudly sponsored by MathWorks,
Budgeto
and CCO
Productions. For more, visit the official website (click
here).

About Argentum ElectronicsThe mission of Argentum
Electronics is to bring fundamental innovation to the world of power
electronics and IoT technology. The multi-award-winning company provides
the smart building value chain (owners, architects, building engineers,
and construction firms) with DC power management and Power-over-Ethernet
(PoE) solutions through application of a suite of patent pending
technologies. The company’s Smart Power over Ethernet controller (SPEC)
line features a cloud-managed Smart PoE Splitter, and a cloud-managed
PoE Power Combiner for high power PoE delivery. For more information,
visit the Argentum Electronics website (click
here).

View source version on businesswire.com: https://www.businesswire.com/news/home/20190115005100/en/