The Master Group, a new Strategic Partner

Ms Andrée-Lise Méthot, Founder and Senior Partner of Cycle Capital Management (CCM) Inc., is pleased to welcome the Master Group S.E.C. as Limited Partner in Cycle Capital Fund I, a venture capital fund risk capital fund that invests in the Cleantech and renewable energies sector.

The Master Group S.E.C. is a major distributor of refrigeration, air-conditioning and heating equipment.  The company has become leader in the residential, commercial, and industrial sectors with innovative products that are at the cutting edge of technology.

As Strategic Partner, Master Group will bring to Cycle Capital, in addition to its financial liabilities; its technical support during the validation of technology as well as business development support to clean technology companies so that they may progress towards mapping them on large scale markets.

Mr. Michel Ringuet, Chief Executive Officer of Master Group stated “The improvement of energy efficiency of our buildings is a paramount factor in streamlining our environment and for the reduction of greenhouse gas effects”, “It lies within all levels of economic speakers to intervene and act within this file, it seems so natural, as distributor, to participate in Cycle Capital Fund I.  In addition, to position ourselves as leaders in the promotion and distribution of high energy efficiency equipment, we have decided to invest and to contribute to the rapid rise of innovative clean technologies.”

Mrs. Andrée-Lise Méthot, Founder and Senior Partner of Cycle Capital states that “The contribution and collaboration of industrial investors, such as Master Group, is fundamental in Cycle Capital’s strategy.  This partnership enables Cycle Capital to assist entrepreneurs in the development of their company in offering them a better understanding of the commercial validation of their technologies.”

Cycle Capital has invested to this day a total of $18.5M in seven companies and is on the lookout for any investment opportunity which is on the Quebec, Canadian, and in the North Eastern North American.

Investing in clean technologies and renewable energy
Cycle Capital Fund I, L.P.’s mission is to invest in companies developing and commercializing clean technologies and projects in renewable energy generation that are focused on reducing greenhouse gas emissions (GHGs), optimising resources use, and decreasing impacts over their entire life cycle.

About Master Group S.E.C.
Master Group has been a market leader in the fields of refrigeration, air-conditioning and heating for over 55 years.  Uncommon energy and a commitment to service are the hallmarks of its 365 employees.  With two distribution centres and 14 branches from Eastern Ontario to the Maritimes, the company is the largest independant distributor in Eastern Canada.

Source:    Cycle Capital Management – www.www.cyclecapital.com
Information:    Andrée-Lise Méthot, 514 495-1022, amethot@cyclecapital.com

Province of Nova Scotia Invests in Clean Technology Venture Fund

Innovative Nova Scotia companies will have better access to capital thanks to a $2-million investment in a fund designed to support high-performance clean technology companies.

Premier Darrell Dexter announced today, Oct. 21, at the Power of Green Conference, that the province, through InNOVAcorp, has made the investment in the Cycle Capital fund. The $80-million Cycle Capital fund makes investments in high-potential clean technology opportunities, primarily in eastern Canada.

“This partnership significantly increases the likelihood of Nova Scotia’s clean technology companies to have access to the capital they need to compete globally,” said Premier Dexter.

The clean technology industry includes companies that focus on alternative and renewable energy, energy savings, greenhouse-gas reduction, capture and storage, environmental remediation, and air quality and emissions management.

Through the investment, the province will have:

  • unique high-level access to Cycle Capital fund decision-makers to position Nova Scotia clean technology opportunities
  • access to industry knowledge and global experts
  • more potential investments in Nova Scotia by the fund and its North American partners.

Through its internationally recognized High Performance Incubation(HPi)TM business model, InNOVAcorp has a proven track record of attracting capital investment from within and outside Atlantic Canada.

“The proactive nature of InNOVAcorp’s HPi business model, the team’s ability to identify and groom venture-grade companies and the considerable assets of the region are very attractive to Cycle Capital,” said Andrée-Lise Méthot, founder and senior partner of Cycle Capital. “We look forward to working with InNOVAcorp and its high-potential clean technology companies.”

Cycle Capital Management is a venture fund manager dedicated to the clean technology industry. Cycle Capital has $80 million in limited partnership commitments from an impressive list of partners, including: Investissement Québec; Fonds de solidarité FTQ; Fondaction; Fonds de développement de la CSN pour la coopération et l’emploi; Cascades Inc.; Caisse de Dépôt et de placement du Québec (CDPQ); Centrale des Syndicats du Québec (CSQ); Brookfield Renewable Energy; Fonds d’actions québécois pour le développement durable (FAQDD); Master Group; and InNOVAcorp.

“InNOVAcorp is uniquely positioned to work together with clean technology entrepreneurs, investors, the academic research community and professional services organizations,” said Dan MacDonald, president and CEO of InNOVAcorp. “Through InNOVAcorp, the province will proactively seek, support and potentially invest in high-potential clean technology companies, with a goal of attracting additional venture capital financing.”

For more information, please contact:
Jennifer Guy
902.424.8670 (ext. 1197)
902.225.7284 (cell)
jguy@innovacorp.ca

Cycle Capital Management conducts first closing of Cycle Capital Fund I, L.P.

Cycle Capital Management (CCM) Inc. has raised $80 million in completing the first closing of Cycle Capital Fund I, L.P., an investment fund devoted to the clean technology and renewable-energy sector.

This threshold was reached thanks to the involvement of several partners, including the Government of Québec (through Investissement Québec), the Fonds de solidarité FTQ,  Fondaction, the Caisse de dépôt et de placement du Québec, Brookfield Renewable Power Inc., Cascades Inc., the Fonds d’action québécois pour le développement durable (FAQDD) and the Centrale des syndicats du Québec (CSQ).

Montréal-based CCM will continue to raise capital over the coming months.

“We are proud to have reached this first stage toward our goal, even in tough economic times,” says Andrée-Lise Méthot, founder and Senior Partner of Cycle Capital Management. “We are especially proud that this closing was conducted in partnership with the Québec government, major institutional investors and respected industrial groups such as Brookfield Renewable Power and Cascades.”

In addition to their financial commitments, Brookfield Renewable Energy and Cascades, as industrial partners of Cycle Capital Management, have agreed to provide technical support in validating technologies as well as business development support for companies that own clean technologies to help them move toward applications with huge potential markets. Richard Legault, President and Chief Executive Officer of Brookfield Renewable Power, says he is pleased to be associated with the Cycle Capital Fund, adding: “By supporting leaders in tomorrow’s clean technologies, we are helping meet future energy needs and spurring economic growth while promoting high-quality jobs and preserving our environment.”

Key manufacturing industries are at a turning point and must alter their production and consumption habits. Investments in innovative projects will play a major role in building companies of international scope that can thrive in a fast emerging technology market. “Providing financial support to these clean-technology companies will help them export their know-how and command a place among leaders in the carbon-free new economy,” says Alain Lemaire, President and Chief Executive Officer of Cascades.

Cycle Capital Management has already invested in six Québec companies and remains on the lookout for any investment opportunity on markets in Québec, Canada and the entire northeast of the continent.

Investing in clean technologies and renewable forms of energy

Cycle Capital Fund I, L.P.’s mission is to invest in companies that develop and market clean technologies and renewable-energy projects, helping cut greenhouse gases, optimize resources and reduce impacts throughout their entire life cycles.

Up to now, the Fund has invested more than $13 million in six companies, including:

SiXtron Advanced Materials Inc., based in Montréal, develops and markets an innovative process for placing thin silicon carbide (SiC) layers on various supports applied in the solar energy field.www.sixtron.com

Vaperma Inc., based in Saint-Romuald, designs, develops, produces and markets innovative gas separation solutions that can be used for fuel-grade ethanol production, natural gas production, biogas treatment and chemical compound dehydration. www.vaperma.com

About Cycle Capital Management
Cycle Capital Management (CCM) Inc. is a private fund manager that focuses its investments on companies developing and marketing clean technologies and renewable-energy projects that can benefit from opportunities created by the emergence of a low-carbon economy in North America.

About Brookfield Renewable Energy Inc.
Brookfield Renewable Power Inc., wholly owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 165 generating facilities with approximately 4,100 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power’s operations are primarily located in North America and Brazil.

About Cascades Inc.
Founded in 1964, Cascades produces, converts and markets packaging and tissue products composed mainly of recycled fibres. Cascades employs close to 13,000 women and men working in more than 100 modern and flexible production units located in North America and Europe. Its management philosophy, its 45 years of experience in recycling and its continuing efforts in research and development are strengths that enable the company to create new products for its customers. Cascades shares trade on the Toronto Stock Exchange under the ticker symbol CAS.

Source: Cycle Capital Management – www.www.cyclecapital.com
Information:  Isabelle Perras, 514 282-4630, isabelle.perras@cossette.com