A demonstration house was previously built and commissioned in Iqaluit, Nunavut, Canada. The purpose of the overall effort is to evaluate the performance of a high-performance building located in the Canadian Arctic, while considering the unique social, economic and logistical challenges associated with its remote location. Previous work consisted of monitoring and reporting on the energy consumption due to heating between April 2016 and April 2017. The purpose of this ongoing research is to contribute experimental data regarding the functionality of ventilation systems in cold climates. This paper outlines the development, implementation and monitoring of a carbon dioxide-based demand-controlled heat recovery ventilation system that took place between April 2017 and April 2019. The system was equipped with two electric preheaters to ensure that frost build-up did not occur in the heat recovery ventilator (HRV) and adequate fresh air ventilation could be maintained. An electric heater was included after the HRV to control the supply air temperature. Monitoring of the ventilation system’s performance took place between December 2018 and February 2019. During this period the electricity consumption of the HRV, preheaters, and supply air heater were measured for the fresh air required for two “theoretical” occupants. Flow rate and important temperatures in the ventilation system were also monitored to assess the system’s performance. A comparison of the sensible recovery efficiency (SRE) of the HRV and overall system is presented. Experiments displayed that on average the SRE of the system and HRV was 35% and 72%, respectively. The total energy consumption of the ventilation system was 390 kWh over the two months, which translates to 6.30 kWh/day, an energy use intensity of 0.27 kWh/m2/day and 4.49 Wh per L/s of fresh air.