GaN Systems and Partners tackle the Net Zero Challenge

  • Cleantech investors join Automotive EV leaders in $150M Growth Funding
  • Strategic investors using GaN to build electrification platforms delivering breakthrough levels of power efficiency

OTTAWA, Canada – GaN Systems, the global leader in GaN (gallium nitride) power semiconductors, today announced its growing ecosystem of partners collaborating to address the Net Zero Challenge to neutralize emissions of carbon dioxide (CO2) and other greenhouse gases by accelerating the global sustainability and cleantech revolution.

Efficient power generation, distribution and conversion are key factors in driving sustainability and reducing emissions.  Since GaN is inherently more efficient than Silicon and Silicon Carbide, any power conversion equipment maker designing with GaN contributes to a greener planet.  The highest paybacks come from implementing GaN at the biggest sources and uses of power. Factory and industrial motors are one of the biggest users of electricity. With GaN in their motor drives, Siemens is, “now able to increase the efficiency of the drives,” says Christian Neugebauer, Siemens’ product manager for the Micro-Drives. “With GaN, Siemens can switch to a higher frequency, thereby enabling a faster motor response time compared with high-voltage drive systems.” And, as we all use more data in our video-watching, picture-sharing, online gaming and music-streaming, GaN is implemented in more and more power supplies in the data centers, reducing power losses by 50% and increasing power densities.

In power generation, Enphase Energy recognizes the importance of GaN for inverter design with higher efficiency and 50% increase in power density.  In addition to ensuring the source power is clean, Enphase is also reducing consumption of scarce natural resources. With GaN’s ability to operate power systems at higher powers and in smaller sizes, use of copper, plastic and other materials is greatly reduced.

In consumer devices, GaN Systems partners are also making step-function improvements in efficiency and using less materials in their products.  Dell and Harman are taking the lead here.  Not only did Harman reduce the size of its chargers and use less material in their manufacturing, Harman took the extra step of using 90% recycled plastic in its products.

Investors see GaN technology as an essential weapon in the fight against climate change.  Long-time investors in GaN Systems who participated in the $150 million growth round and who are also leaders in Cleantech include Business Development Bank of Canada (BDC), Cycle Capital, Export Development Canada (EDC) and BMW iVentures. New investors in the round include Fidelity Management & Research Company LLC, who led the round, as well as USI, Vitesco Technologies, Dockyard Capital Management, GSR, and HG Semiconductors.

“As a long-time investor in GaN Systems, we have always seen the potential for GaN to empower customers to deliver on the Net Zero promise,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.  “We have been particularly impressed with the company’s leadership in reliability and efficiency, which is evidenced in industry leaders choosing GaN Systems for their next generation power needs.  We will continue to support the company as it delivers on its mission and look forward to seeing continued positive impact on sustainability from GaN’s continued success.”

“Interest in the round was strong from the beginning,” said Chris Zegarelli, CFO of GaN Systems.  “We saw a range of investors, from strategic partners looking to deepen long-standing relationships to new investors recognizing our technology leadership and seeing the inherent sustainability benefits of GaN.”

“GaN Systems’ gallium-nitride semiconductors represent a key enabling technology for the clean energy transition. GaN brings about important efficiency and performance gains in electric vehicles and renewable energy systems. This technology will also help to significantly reduce energy consumption in data centers and in millions of consumer electronic devices,” said Zoltan Tompa, Managing Director of BDC Capital’s Cleantech Practice. “As a long-time investor in GaN Systems, BDC Capital is pleased to increase its support for this high impact Canadian clean technology company.”

Jim Witham, CEO at GaN Systems, said, “We saw strong interest and support from strategic partners in this round.  Our collaboration with Vitesco and USI will enhance our leadership in GaN for electric vehicles.  Our partnership with GSR will enable us to drive growth in China across multiple target markets.  These partnerships build on long-standing collaboration with BMW, Toyota, Siemens and others to continue to drive momentum in GaN across our target markets.  We at GaN Systems are all looking forward to working with these great companies to proliferate GaN across automotive, consumer, enterprise and industrial markets.”

 

About GaN Systems

GaN Systems is the global leader in GaN power semiconductors with the most extensive transistors portfolio that uniquely addresses the needs of today’s most demanding industries, including consumer electronics, data center servers, and power supplies, renewable energy systems, industrial motors, and automotive electronics. As an industry-leading innovator, GaN Systems makes it possible to design smaller, lower cost, more efficient power systems. The company’s award-winning products provide system design opportunities free from the limitations of yesterday’s silicon. By changing the transistor performance rules, GaN Systems enables power conversion companies to revolutionize their industries and transform the world. For more information, please visit: www.gansystems.com or on Facebook, Twitter and LinkedIn and scan this QR code for our WeChat.

 

Media Contact:

Mary Placido

Trier and Company for GaN Systems

Email: [email protected]

A new brand identity that reflects our ambition

Scaling impactful innovation in clean technology requires leadership and collaboration. With a shared desire to see tomorrow’s companies grow today and with the goal of making a greater impact on society, the members of the innovative Cycle Capital family – Cycle Capital Investment, Cycle Momentum, and Cycle Central – have decided to more clearly express their collaboration and history by unveiling a unique brand image:

Since Cycle Capital’s inception in 2009, our team has been actively contributing to the development of a fostering ecosystem for clean technology. As we enter an era of economic decarbonization and inclusivity, the time has come to affirm our beliefs through a new brand image that demonstrates our organizations’ shared approach. We continue to convene even more partners to collaborate with us in scaling a green economy that addresses humanity’s most important ecological challenges.

The launch of this new brand energizes the entire team and launches a new chapter for the growth and impact of our business that is aligned with the next phase of development of our international impact investing platform and global cleantech innovation engine.

Andrée-Lise, Patrick, Catherine

MYSA ANNOUNCES $20.3 MILLION IN SERIES B FUNDRAISING

CANADIAN SMART THERMOSTAT COMPANY SECURES GROWTH FUNDING IN MISSION TO DECARBONIZE GLOBAL HOME HEATING AND COOLING

St. John’s, NL — NOVEMBER 3, 2021 — NL-based smart thermostat company Mysa announced today the closing of a $20.3 million Series B equity funding round led by Cycle Capital. Co-investor Round13 Capital, through its Earth Tech Fund, joins the mission-focused syndicate, including Climate Innovation Capital and BDC’s Cleantech Practice, as well as existing investors Export Development Canada and Killick Capital.

The funding will support Mysa’s mission to fight climate change through the continued development of market-leading energy efficiency hardware and software, the creation of future-focused Demand Response solutions for electrical utilities, and the expansion of Mysa’s marketing and distribution channels on an international scale.

“We have been tracking Mysa closely for the past several years and have been impressed with the adoption rate of their products by consumers and the impact their smart thermostats have on climate change. Mysa’s ability to innovate and bring new products to market in high growth sectors has been a recipe for success and we look forward to supporting them along their journey. We are also excited to collaborate with Round13 who worked closely with us during the diligence period and offer extensive expertise in the consumer space,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

“Mysa is leading the high voltage thermostat market, having built an impressive Baseboard product and extending that leadership to In-Floor Heating and Air Conditioning,” said Craig Strong, Partner at Round13 Capital. “We are seeing a dramatic shift in attitudes where consumers, governments, and utilities are no longer willing to accept energy waste, and recognize Mysa’s ability to not only help the environment but generate meaningful savings at the end of every month. Consumers are also increasingly looking to round out their smart home, and the Mysa Smart Thermostat is a must have.”

“Working with groups like Cycle Capital and Round13 who share our vision and values related to creating a low carbon future is a huge milestone in Mysa’s growth. With their extensive experience in the energy efficiency and demand response sector as well as broad experience in the consumer space, Cycle Capital and Round13 bring a lot of value to the table. This significant investment will help us empower homeowners to reduce their energy consumption. It will help us continue to grow our local and provincial economy through job creation and skill retention in our booming tech sector. It furthers our mission to create innovative solutions based on the electrification of heating and cooling, that will help the energy systems of tomorrow move toward decarbonization,” said Josh Green, Co Founder and CEO of Mysa.

About Mysa

Mysa’s mission is to fight climate change by creating energy-efficient smart thermostats for electric home heating and cooling. A leading employer in the tech sector in Eastern Canada and a rising star in the smart energy product industry in North America, Mysa’s diverse, Newfoundland and Labrador-based team is growing rapidly, as is their ecosystem of energy-saving smart thermostats for electric heating and cooling. Keep watching Mysa in 2021 and beyond as they make change comfortable by helping customers save energy and reduce their electricity bills.

To learn more about the company, visit getmysa.com

Cycle Capital 

Cycle Capital is an impact investor and a leading private cleantech venture capital investment platform with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of Cycle Momentum Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders.

To learn more, visit www.cyclecapital.com

About Round13 Capital

Round13 Capital is a Toronto-based venture capital firm that invests in growth-stage technology businesses. The firm is managed by experienced investors and operators. It uses a disciplined investment approach to identify exceptional entrepreneurs running companies with market leadership potential. Round13 works hands-on with its portfolio companies to unlock strategic and financial value.

To learn more, visit round13.com

    -30-

For more information or to request an interview, please contact Jillian Thorne at [email protected]

Cycle Capital portfolio company ESS Inc. begins trading on the NYSE

Cycle Capital’s team congratulates ESS Inc, a portfolio company and leader in long-term energy storage solutions, on its public offering. ESS Inc. shares, through a SPAC merger with ACON S2, began trading today on the New York Stock Exchange (NYSE:GWH). According to ESS Inc.’s public statement, the transaction is primarily comprised of more than $308M US of pro forma net cash which will be used to fund ESS Inc.’s growth strategy.

Cycle Capital has been involved in the development of ESS Inc. since 2017, alongside investors such as BASF, Breakthrough Energy Ventures, Softbank Energy, Pangaea Ventures, Presidio Ventures, GC Ventures, Evergy and others.

“When we back an entrepreneur, it’s because we believe they have the potential to change the world. It was this belief that led Cycle Capital’s team to back ESS Inc. co-founders Craig Evans and Julia Song, as well as its President and CEO Eric Dresselhuys. ESS Inc.’s long-duration energy storage solution is the cleanest and most cost-effective on the market and its benefits are undeniable. We are very excited to continue to support the company in its next phase,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

“Cycle Capital’s team has been key to ESS development. They understand that investing in cleantech companies can impact the creation of a sustainable energy future that we all envision. For over four years they have supported us with fundraising and team development,” said Craig Evans, ESS Co-founder and President.

 

About Cycle Capital
Cycle Capital is an impact investor and a leading private cleantech venture capital investment platform with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of Cycle Momentum Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders.

 

About ESS Inc.
ESS Inc. (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.

 

Information
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs
[email protected]

Cycle Capital announces the appointment of Dan Pinault as partner and Gary Berdowski becomes Associate

Montreal and Toronto, September 20, 2021 – Cycle Capital, a leading cleantech venture capital platform, announces the promotion of Dan Pinault as partner and Gary Berdowski as Associate.

Dan Pinault (on the left side of the picture) joined Cycle Capital as a Principal in 2019. He has well over a decade of experience advising and evaluating investments in the energy transition. Prior to joining Cycle Capital, Dan worked at Brookfield as Director of Mergers & Acquisitions where his primarily responsibility was growing Brookfield’s district energy platform, Enwave Energy Corporation. Dan also worked as a Management Consultant at Navigant (now Guidehouse) where he was focused on evaluating disruptive technologies related to renewable power generation, clean transportation and grid modernization. His deep sector experience adds a great deal of depth to Cycle Capital’s investment team.

Gary Berdowski (on the right side of the picture) joined Cycle Capital as an Analyst in 2019. As an Associate, he will be responsible for risk and market analysis, as well as performing asset and business valuations. Prior to joining Cycle Capital, Gary worked 7 years at industrial manufacturing company Velan.

“Dan brings a unique combination of entrepreneurial, industrial and investment expertise to the table. His unwavering commitment to the team and support to our companies have led to strong relationships with our investors and portfolio entrepreneurs and we are thrilled to see him join the partnership”, says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital. “Both Gary and Dan are dedicated team members, and we are pleased to recognize their excellent work with these promotions”

Cycle Capital expands Impact Investing Team with two new hires

Montreal, August 24, 2021 – Cycle Capital, a leading cleantech venture capital platform, announces the addition of two new resources as part of its impact investing team expansion.

Alia Drouin (on the left side of the picture) joins the team as Director of Impact Investing and Public Relations. As such, she contributes to the assessment, tracking and reporting of the portfolio companies’ progress in terms of impact and assists with Cycle Capital platform’s public relations efforts.

Alia previously worked as an investment officer for an impact investment fund and a microfinance and social entrepreneurship analyst for the BNP Paribas Group in Paris. She holds a Master’s degree from ESSEC Business School and an MBA from Seoul National University. She also participated to the EIT Climate-KIC program – a EU climate innovation initiative created to accelerate the transition to a zero-carbon and resilient world.

Maya Hassa (on the right side of the picture) joins the team as an Analyst. As such, she contributes to all aspects of deal flow from investment sourcing and analysis to deal execution.

Maya previously worked in a cleantech venture capital firm where she was responsible for conducting due diligence and market analysis of early stage companies in the clean energy, agtech and smart mobility sectors. Maya holds a Bachelor’s degree in Renewable Resource Management from McGill University and is in the process of obtaining the Chartered Financial Analyst designation. She is also a Fellow of the Clean Energy Leadership Institute and a member of Canadian Women in VC Champions Program.

“The expansion of our impact investing team is the result of the continued growth of our platform over the past 12 years. As we’re about to launch new projects, we are thrilled to welcome Alia and Maya – two new talented women with unique sets of expertise ” says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

 

About Cycle Capital
Cycle Capital is an impact investor and the largest private cleantech venture capital investment platform in Canada with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of Cycle Momentum Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders.

 

Information
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs
[email protected]

Encycle Announces Closing of $7.5 Million Financing Round

VANCOUVER, BC, Canada, May 12, 2021 – Encycle Corporation, a software technology company focused on helping commercial and industrial customers dramatically improve the efficiency of their HVAC systems using artificial intelligence-based services, is pleased to announce that it has closed a $7.5 million financing round from a group of advanced energy investors led by Cycle Capital.

Encycle’s unique HVAC energy management technology, Swarm Logic®, is empowering some of the biggest retailers and other multi-site companies to combat HVAC-related energy challenges. The data-driven, multi-patented technology significantly reduces customers’ electricity usage and carbon emissions, helping meet corporate sustainability targets. Swarm Logic has drawn broad interest from companies strategically involved in green investing. Among Encycle’s most recent investors are Turntide Technologies®, a developer and manufacturer of the Turntide Smart Motor SystemTM and Active Impact Investments, a venture capital firm focused on clean tech.

Statements
“We are excited by Encycle’s unique ability to autonomously monitor and control HVAC equipment to drive savings. Not only does Swarm Logic drive down energy costs but it also reduces GHG emissions significantly for commercial and industrial customers. As a cleantech investor, we choose to work with companies that have a meaningful impact on climate change and we believe that Encycle’s experienced and proven management team in combination with the fact they have established commercial partnerships with top tier building automation system players will allow the company to rapidly scale their solution.” says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

“When evaluating Encycle’s investment potential, it became clear there were tremendous synergies between their Swarm Logic technology and our Platform for Sustainable Operations,” said Ryan Morris, Chairman and CEO of Turntide Technologies. “Both companies’ technologies focus on reducing energy waste for a more sustainable tomorrow, and combining our offerings provides customers with the most compelling HVAC optimization solution on the market,” Morris explained. “Together with Encycle, we can provide industry leaders with new sets of energy-efficiency capabilities that align with their business and sustainability goals.”

“We’re thrilled to be partnering with Bob and the Encycle team,” said Mike Winterfield, Managing Partner of Active Impact Investments. “They have the grit, depth and history of value creation to capitalize on the opportunity created by growing customer demand for optimized HVAC while doing the right thing for the planet. Encycle’s turnkey software solution makes for a seamless and efficient customer adoption experience that positions them well to maximize impact and growth in an increasingly competitive space. Encycle’s solution is an excellent fit for Active Impact’s portfolio since it delivers the optimal mix of cost savings and environmental benefit, and it’s the ideal time to scale.”

Robert Chiste, Encycle’s Chairman and CEO, stated, “We are very pleased that Cycle Capital has led our latest funding round joined by new investors Active Impact Investments and Turntide Technologies and existing investors Prelude Ventures, NGEN Partners, Enertech Capital, and Sorfina Capital.” Chiste continued: “This funding, combined with the added expertise and leadership from the new Board and Observer members, will support the extension of our artificial intelligence-based technology into new customer applications. Additionally, the funding will help accelerate the growth of our strategic partner program, which already includes industry leaders like Honeywell International, ENTOUCH, Lime Energy, Resideo, Carrier and Lightstat. As we continue to accelerate customer adoption of our cloud-based Swarm Logic technology through channel partners and direct sales efforts, Encycle remains committed to investing in modern tools such as AI and data science to continually increase efficiencies and value.”

Encycle developed Swarm Logic, a cloud-based technology that dynamically synchronizes HVAC rooftop units (RTU) control decisions, enabling RTUs to operate most efficiently by responding in real-time to changing conditions such as outdoor temperature and building occupancy levels. Swarm Logic uses artificial intelligence capabilities to create dynamic models for each building and its thermal load profile. With Swarm Logic, RTUs become part of an IoT-based closed-loop system that coordinates their activity and distributes energy consumption more logically among the individual RTUs without the need for additional hardware or equipment in most cases. The enterprise-wide solution, which has been awarded 18 patents to-date, operates quietly in the background, requiring no human interaction to maintain or monitor its actions. Deployed as a software-as-a-service (SaaS) solution, the company’s flagship technology typically saves customers 10%-20% on HVAC-related energy consumption, demand, and spend.

In the past couple of years, Encycle has helped its customers save over $10.5 million in energy costs and reduce CO2 emissions by nearly 60,000 tons. Swarm Logic has been deployed at over 1,000 sites with 10,000 RTUs, and is optimizing over 125 MW of customer electric load across North America.

Learn more about Encycle and the Swarm Logic energy management solution at encycle.com.

About Cycle Capital:
Cycle Capital is an impact investor and Canada’s leading private cleantech venture capital investment platform with AUM north of $500 million. With offices in Montreal, Toronto, and Qingdao – in continental China – and a presence in New York and Seattle, Cycle Capital invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use, and improve process efficiency. Cycle Capital is the Founder of the Ecofuel Accelerator. For more info, visit www.cyclecapital.com .

About Active Impact Investments:
Active Impact Investments is a Certified B Corp based in Vancouver, BC, whose mission is to support environmental sustainability through profitable investment. With two limited partnership funds with over $50M in assets under management, the venture capital firm provides funds and talent to accelerate the growth of early-stage climate tech companies with $200K to $3M in revenue and significant growth potential. Active Impact’s portfolio includes and is seeking some of the most successful startups in North America that are capable of achieving venture scale and becoming extremely profitable while solving the most urgent environmental issues. For more information, visit activeimpactinvestments.com.

About Encycle:
Encycle is a technology-driven company that is transforming energy management for multi-site commercial and industrial companies. The company leverages the power of artificial intelligence in its patented cloud-based technology to lower its clients’ electric costs, maximize energy efficiency, and reduce environmental impact. Companies using Swarm Logic® routinely reduce HVAC electric costs and consumption by 10%-20% with little or no capital investment. For more information about Encycle, visit www.encycle.com or follow the company on LinkedIn.

About Turntide Technologies:
Headquartered in Sunnyvale, California, Turntide develops breakthrough sustainability technologies that drive down energy consumption and operating costs in buildings, agriculture, and electric transport, creating a path to 100% renewable energy and business sustainability. The Turntide Smart Motor System is part of an open Platform for Sustainable Operations, driven by a patented Turntide Optimal Efficiency Motor™ with intelligent automation and cloud connectivity. The Smart Motor System advances sustainability goals, saves money, and minimizes unexpected downtime. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.

Information
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs
[email protected]

Cycle Capital announces the appointment of Nicolas Sarganis-Bourdon as Communications Project Lead

Montreal, April 1st, 2021 – Cycle Capital, Canada’s most important cleantech venture capital firm, announces the appointment of Nicolas Sarganis-Bourdon as Communications Project Lead.

Before joining Cycle Capital, Nicolas was a marketing coordinator at Lune Rouge. He also worked as a freelancer with various SMEs for their communication and marketing needs.

“We are very happy to welcome Nicolas to the team. His experience in communication and digital marketing will allow us to promote our achievements, to make our portfolio companies and those of the Ecofuel Accelerator shine and to coach entrepreneurs in their digital presence strategies.” says Cycle Capital’s Founder and Managing Partner Andrée-Lise Méthot.

Passionate about entrepreneurship, international business and communications, Nicolas holds a bachelor’s degree in public relations and is currently pursuing a master’s degree in management, entrepreneurship, intrapreneurship and innovation at HEC Montréal. Interested in entrepreneurship, Nicolas founded a magazine dedicated to young professional lifestyle and local culture.

 

About Cycle Capital
Cycle Capital is an impact investor and the largest private cleantech venture capital investment platform in Canada with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of the Ecofuel Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders.

The BleuImpact Fund by Cycle Capital is a $ 15-20M seed/early stage venture capital fund dedicated to innovative technology companies in the water sector. For more information on Cycle Capital, visit www.cyclecapital.com .

 

Information
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs
[email protected]

SPARK Microsystems Announces CDN$17.5 Million Financing Led by Cycle Capital to Drive Commercialization

MONTREAL, Feb. 16, 2021 – SPARK Microsystems, a fabless semiconductor company leading the way in ultra-low power, ultra-low latency wireless communications, announces the closing of a CDN$17.5 million equity financing to accelerate commercialization. Led by Cycle Capital, the round included new investors ND Capital (a Silicon Valley and Europe-based venture capital firm dedicated to disruptive technologies) and Export Development Canada, as well as existing investor Real Ventures and private investors. Proceeds will be used to fund high-volume manufacturing, sales ramp and expanded R&D for next generation products.

Industry veterans Dr. Sanjay K. Jha and Dr. Paul Jacobs reinvest in SPARK Microsystems
Former Qualcomm CEO Paul Jacobs and former GlobalFoundries CEO Sanjay K. Jha, both reinvested in the company as part of the round.

Dr. Sanjay K. Jha is the former CEO of GlobalFoundries Inc., the second largest semiconductor contract manufacturer in the world. Prior to that, he was the Chairman and CEO of Motorola Mobility Inc., a role he held until the acquisition of the company by Google in 2012. Before Motorola, Sanjay worked at Qualcomm for 14 years, finishing his tenure there as the COO of Qualcomm, and President of Qualcomm CDMA Technologies (QCT), the CDMA & computing chipset and SW division of Qualcomm. Sanjay holds a PhD (ECS), and D.Sc (Hon) from the University of Strathclyde in Scotland, UK. In 2018, he was elected into the US National Academy of Engineering. He is an investor and board member of a number of private technology companies.

Dr. Paul E. Jacobs is the former CEO and executive Chairman of Qualcomm. During his tenure as CEO, Qualcomm’s revenues quadrupled and its market capitalization doubled.  Dr. Jacobs is a prolific inventor with over 80 U.S. patents granted or pending in the field of wireless technology and devices. He is a board member of a number of private technology companies. He founded Berkeley’s Jacobs Institute for Design Innovation and was the university’s 2017 Alumnus of the Year.  Dr. Jacobs is a member of the National Academy of Engineering and a Fellow of the American Academy of Arts and Sciences.

In conjunction with the financing, Cycle Capital’s Senior Partner Amit Srivastava also joins the Board of Directors. Earlier in his career, he led venture capital investments in the electronics sector at JP Morgan Partners and held key marketing and engineering management positions at Texas Instruments.

Recently, SPARK launched the SR1000 ultra-wide band (UWB) wireless transceiver ICs enabling a new class of short-range wireless connectivity applications including gaming peripherals and AR/VR headsets, smart home devices, and battery-less internet of things sensors. Within nine months after the launch announcement, SPARK Microsystems:

  • Shipped tens of thousands of pre-production units to multiple customers
  • Prototyped a next-generation wireless gaming hub with headset, mouse and keyboard in conjunction with a Tier 1 ODM partner
  • Sold over 70 evaluation kits to companies designing wireless AR, VR, IoT and positioning products
  • Delivered paid SoWs for advanced wireless products to multiple Fortune 100 companies

QUOTES
“In just four years since the Ecofuel Acceleration program, SPARK Microsystems was able to deliver a revolutionary low-power wireless solution to customers,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital and Chair of the Ecofuel Accelerator. “Cycle Capital invests in companies that have a meaningful impact on climate change. We believe that SPARK will not only enable battery-less networks and dramatically cut power consumption across a wide range of emerging wireless applications but also reduce electronic waste going to landfills.”

“We are excited by the rapid customer adoption of the SPARK solution,” said Sanjay Jha,  former CEO, GlobalFoundries and active investor. “The company engaged with multiple customers who will deploy millions of wireless devices in the coming years. SPARK’s technology significantly extends battery life for various Industrial IoT and consumer electronics including AR/VR, gaming and audio applications – enabling for new functionalities as well as improved performance.  This financing puts SPARK in a strong position to meet the volume production requirements of those customers.”

“We are very pleased to have received this strong financial backing from Cycle Capital, as well as new and existing investors,” said Fares Mubarak, CEO, SPARK Microsystems. “This funding, coupled with many years of outstanding technical and operational leadership from the new Board members will help accelerate the commercialization of our UWB transceiver products into high-volume production and better position us to execute our growth strategy and expand in key markets.”

“We are excited to see our dream of creating such a differentiated wireless technology to address many markets and expand the usability of wireless devices taking shape.” said Dr. Frederic Nabki, Cofounder and CTO, SPARK Microsystems.

About SPARK Microsystems
SPARK Microsystems, a fabless semiconductor company, commercializes ultra-low power and ultra-short latency wireless platform for the Internet of Things revolution. The company was founded in 2016, now employs 40 people in Montreal and in the US, and anticipates doubling in size over the next 18 months including adding 15 sales and application engineers. SPARK Microsystems was elected one of the “10 Startups in the Spotlight” on the latest EETimes Silicon 100 list, received the 2019 Defense Innovation Award at TechConnect., and won the 2018 Nokia Open Innovation Challenge. For more info: sparkmicro.com

About Cycle Capital Management
Cycle Capital Management is an impact investor and Canada’s leading cleantech venture capital investment platform with AUM (assets under management) of CDN$0.5 Billion. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests throughout North America and China in growth stage companies that commercialize technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency. Cycle Capital is the Founder of the Ecofuel Accelerator. For info: www.cyclecapital.com

For more information:
Fares Mubarak
CEO
SPARK Microsystems
[email protected]
+1-925-998-7330

Catherine Bérubé
VP Sustainability, Investor Relations and Public Relations
Cycle Capital
[email protected]
+1-514-629-1022

AquaForum and Cycle Capital’s BleuImpact Fund announce a collaboration to accelerate the deployment of innovative technologies in the water sector

Montreal, February 2nd , 2021 – Aqua Forum, the largest Canadian innovation platform dedicated to startups in the water sector and Cycle Capital’s BleuImpact Fund, the first impact investment fund in the water sector in Canada, are proud to announce a partnership aimed at accelerating the development and deployment of innovative start-ups in the water sector. The collaboration agreement between Aqua Forum and Cycle Capital’s BleuImpact Fund will consolidate the innovation ecosystem in the water sector in addition to allowing the emergence and development of practical solutions to pure water issues.

Aqua Forum, which supports the development of solutions in the water sector across Canada, has supported more than 25 start-ups over the past five years. These are developing technologies related to water quality such as the reduction of road salt and the prevention of cyanobacteria outbreaks in lakes, as well as the development of decision-making tools for water management, such as the reduction of micro plastics in drinking water, the elimination of invasive plants or the elimination of phosphates in the agricultural sector.

In order to further develop these companies, access to growth capital is essential. Therefore, the creation of the new BleuImpact investment fund in water technologies is becoming crucial.

“This strategic partnership will offer a “one-stop-shop” to: validate and qualify solutions, support young entrepreneurs in setting up their businesses, deploy technological showcases of their solutions in the municipal and industrial market, accelerate and invest in these solutions, up to their large-scale commercial deployment,” explains François de Gaspé Beaubien, Executive Chairman of Aqua Forum.

“We are very proud to be able to contribute to the massive green and blue recovery efforts of our various governments and trading partners. I am confident that under the leadership of our senior partner Simon Olivier, this collaboration will lead us to develop sustainable solutions that will be able to resolve pressing environmental issues”, declares Andrée-Lise Méthot, founder and Managing Partner at Cycle Capital.

“Thanks to the vision of the Gaspé Beaubien family, the source of inspiration behind Aqua Forum, and to this strategic partnership, entrepreneurs will now have access to the tools necessary to propel their solutions and thus create a positive impact on the environment, society and the economy,” says Simon Olivier, Senior Partner at Cycle Capital and Lead of the BleuImpact Fund.

About Aqua Forum
Aqua Forum is a non-profit organization that oversees the AquaHacking and Aqua Entrepreneur initiatives. The AquaHacking challenge is a vehicle that facilitates the emergence and creation of companies in water technology and Aqua Entrepreneur is a support program to incubate, test and validate solutions in water management.  For more information, visit aquahacking.com/en/

About Cycle Capital
Cycle Capital is an impact investor and the largest private cleantech venture capital investment platform in Canada with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of the Ecofuel Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders. The BleuImpact Fund by Cycle Capital is a $ 15-20M seed/early stage venture capital fund dedicated to innovative technology companies in the water sector. For more information on Cycle Capital, visit www.cyclecapital.com .

Information
Laurence Basso
Communications Coordinator
[email protected]

Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs
[email protected]