A third fund for Cycle Capital

Ms. Andrée-Lise Méthot, Founder and Senior Partner of Cycle Capital Management (Cycle Capital) welcomes the Government of Quebec’s contribution of $50 million for the Cycle Capital Fund III, a new venture capital fund in the clean technology (cleantech) sector, which targets companies at the commercialization stage. The announcement was made yesterday during the presentation of the Quebec budget by the Minister of Finance, Minister of Revenue and Minister responsible for the Montréal region, Mr. Raymond Bachand.
“This investment is a real vote of confidence for Cycle Capital and the cleantech sector. It will enable companies to continue their growth and to become leaders in their respective markets. It’s a very encouraging sign, as it sends a strong message to our entrepreneurs,” said Ms. Méthot.
Thanks to the contributions of the Government of Quebec and several committed partners such as Teralys Capital, Fondaction: the CSN’s investment fund for cooperation and employment, as well as Cascades and Gaz Métro, Cycle Capital can already count on more than $85 million for the creation of its new fund. The fund will have a minimum capitalization of $100 million and the Québec government’s equity interest in the fund will be made through its mandatary, Investissement Québec. In addition, according to a principle whereby a government contribution of $1 is matched by a contribution of $1 from industrial investors, The Québec government may contribute another $25 million, possibly raising its total equity interest in the fund to $75 million.
 
Since 2009, Cycle Capital, with nearly $125 million under management, has invested in a dozen companies in the cleantech sector. Furthermore, Cycle Capital’s investments have made it possible to attract local and international co-investors, generating a leverage effect six times the value of its investments.
According to Ms. Méthot, this new fund will contribute to finance innovative technologies for companies at the development stage looking to capture the global market. The opening of these new markets, as well as the significant leveraging of co-investments, will certainly result in significant economic benefits for Quebec. In addition, the Government of Quebec’s economic initiatives for reducing greenhouse gas (GHG) emissions and the development of Northern Quebec offer companies opportunities to improve their competitiveness in addition to their environmental performance.
Note: This press release does not constitute a solicitation to invest in the Cycle Capital Fund III or any other Funds managed by Cycle Capital.

A first investment for Seed Fund Cycle-C3E, LP

PRESS RELEASE

UNDER EMBARGO : Friday, December 16, 2011 9:00 AM

Cycle Capital Management (CCM) Inc. today announced a $1.250 million Seed Fund Cycle-C3E, LP first investment in YWire Technologies Inc. a Montreal based clean-tech manufacturer of energy saving control products.

Ms. Andrée-Lise Méthot, Founder and Senior partner of Cycle Capital Management (Cycle Capital) Inc., is very pleased with this first investment for the Seed Fund Cycle-C3E, LP. “This is an important step for us today. The Seed Fund invests in companies at the early stage of their life that have yet to establish business activities generating significant revenues. These companies require funding to conceptualize, develop and market their product. We are proud to finance this young company who is already a leader in environmentally friendly lighting control systems.”

“This key investment by Cycle Capital Management will allow us to generate a dozen new jobs in Montreal, as we develop our second generation of energy efficiency control products,” said YWire President and CEO, Omar Tabba. “Already, our products can improve lighting energy efficiency by up to 75 per cent in a standard commercial building for the same cost as installing a regular light switch.”

About YWire Technologies Inc.
YwireIncorporated in 2009, YWire Technologies Inc. is the first manufacturer to implement Broadband over Powerline (BPL) data networks into building systems. YWire has embedded BPL technology into a simple to use, attractive light switch that is up to 80 per cent lower in installation costs than existing systems on the market.  YWire’s clients include several Fortune 500 companies as well as various schools, colleges and commercial office buildings.

About Cycle Capital Management (CCM) Inc.
Cycle Capital is a pioneer among Canadian venture capital funds focused on the cleantech sector. The fund invests in companies developing and commercializing clean technologies and projects in renewable energy generation that are focused on reducing greenhouse gas emissions, optimizing resources use, and decreasing impacts over their entire life cycle.

With nearly $125 million under management, Cycle Capital invests primarily in Northeastern North America. The fund has assembled a team of investment professionals, advisors and strategic partners, internationally respected for their combined experience in building, nurturing and growing world-class companies. Cycle Capital benefits from a privileged relationship with its strategic partners including Brookfield Renewable Power, Rio Tinto Alcan, Cascades, The Master Group L.P, Lonza, Gaz Métro, Systemex Energies and the Centre d’excellence en efficacité énergétique C3E.

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For more information:
Isabelle Perras, (514) 282-4630,
[email protected]

Cycle Capital Management welcomes Aline Bélanger as Chief Financial Officer

Montreal, October 31, 2011 — Ms. Andrée-Lise Méthot, Founder and Senior partner of Cycle Capital Management (Cycle Capital) Inc., has the pleasure of announcing the arrival of Aline Bélanger, as Chief Financial Officer.
 
Ms. Bélanger has over 16 years’ experience in accounting and finance at companies including enGlobe, AVESTOR, CAE inc., Bell Canada International, PricewaterhouseCoopers and Ernst & Young.  Known for her sharp analysis skills, her experience in guiding financial strategy as well as her strong planning ability, she also achieved success at leading major and extremely complex projects.
“There is no doubt in my mind that Ms. Belanger is exactly the person we need for the Strategic Finance position. Aline’s quality and efficiency combined with her management skills have made her reputation. Having her in my team made me proud” says Methot. A graduate of McGill University, Bélanger received an MBA from Edinburgh University.
In June, Colin Ryan, a mechanical Engineer by training, joined Cycle Capital as Partner. He brought more than 20 years of experience in operational and executive positions in the industrial and clean technology sectors. He joined the executive team of Cansolv Technologies (CTI) and during his tenure he oversaw a fifteenfold increase in revenue and led the company’s expansion into Asian markets, founding Chinese subsidiary in 2004. Cansolv Technologies was eventually acquired by Royal Dutch Shell in 2009. Along the last years, he has been an active angel investor in Canadian and Chinese Cleantech startups.
Recently, Cycle Capital also welcomed Louis Carbonneau as Strategic Advisor. Mr. Carbonneau isa recognized expert in intellectual property with 25 years of a diversified professional US, Canadian and international experience in all facets of intellectual property law and business. He is the former General Manager Intellectual Property & Licensing at Microsoft Corporation where he worked for 15 years. Louis Carbonneau formed his own Seattle law firm, THE POINT LAW GROUP and is also an adjunct professor for the University of Washington’s Graduate Program in Intellectual Property Law & Policy. In addition, he recently founded and is the CEO of Tangible IP, LLC a firm focusing on strategic intellectual property advisory and on patent sales. He also remains a partner at Tynax, the largest patent and technology trading exchange.
About Cycle Capital Management (Cycle Capital)
Cycle Capital is a pioneer among Canadian venture capital funds focused on the cleantech sector. The fund invests in companies developing and commercializing clean technologies and projects in renewable energy generation that are focused on reducing greenhouse gas emissions, optimizing resources use, and decreasing impacts over their entire life cycle. With nearly $125 million under management, Cycle Capital invests primarily in north-eastern North America. The fund has assembled a team of investment professionals, advisors and strategic partners, internationally respected for their combined experience in building, nurturing and growing world-class companies. Cycle Capital benefits from a privileged relationship with its strategic partners including Brookfield Renewable Power, Rio Tinto Alcan, Cascades, The Master Group L.P, Lonza, Gaz Métro and Systemex Energies.
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For more information:
Isabelle Perras, (514) 282-4630,           [email protected]

A New Investment for Cycle Capital Management

Montreal, June 8, 2011—Cycle Capital Management (Cycle Capital) Inc. today announced a $2.5 million Cycle Capital Fund I LP investment in a new company, American Aerogel Corporation (AAC), that develops and commercializes Aerocore®, a more efficient thermal insulation.

“At Cycle Capital, we’re committed to finding outstanding entrepreneurs in the cleantech sector and identifying the most promising innovations that have the potential to transform their market,” said Andrée-Lise Methot, founder and senior partner of Cycle Capital. “Today’s announcement is a confirmation of that commitment. Once again, we are pleased to participate in the development of such an innovative organization.”

‘’American Aerogel is very excited to have Cycle Capital as a new partner. Cycle Capital’s investment will allow AAC to expand its manufacturing capacity to meet demand in current and future markets,’’ said Jay McHarg, General Manager of American Aerogel. ‘’ In addition to the funding, our Company looks forward to the strategic value that Cycle Capital will add through its extensive network of industry partners and its experience in accelerating the growth of cleantech companies ‘’.

With this first investment, American Aerogel Corporation becomes the 10th company to receive funds from Cycle Capital. Today’s announcement is in line with Cycle Capital’s investment strategy for all of north-eastern North America. Cycle Capital intends to deploy its platform across this territory while remaining a leader in financing innovation in Quebec companies in the cleantech sector. As of May 31 of this year, Cycle Capital has invested $42.9 million, of which $35.6 million is in Quebec.

About American Aerogel Corporation (AAC)

ACC has developed, manufactures and sells an aerogel-based insulation product that significantly outperforms other thermal insulation materials in the market, with an R-value greater than 50 per inch. Aerocore® is an advanced insulation used, among others, in the shipping of temperature-sensitive biomedical and pharmaceutical products. In addition to refrigerated containers, AAC is expanding its market by developing insulation products specifically designed for refrigerated trucks and intermodal containers. Some of the benefits of using Aerocore®

include increased energy efficiency, greater payload space, a reduction in the deterioration of shipped goods and reduced shipping and transportation costs. American Aerogel Corporation is headquartered in Rochester, New York.

 

About Cycle Capital Management (Cycle Capital)

Cycle Capital is a pioneer among Canadian venture capital funds focused on the cleantech sector. The fund invests in companies developing and commercializing clean technologies and projects in renewable energy generation that are focused on reducing greenhouse gas emissions, optimizing resources use, and decreasing impacts over their entire life cycle.

With nearly $125 million under management, Cycle Capital invests primarily in the north-eastern of North America. The fund has assembled a team of investment professionals, advisors and strategic partners, internationally respected for their combined experience in building, nurturing and growing world class companies. Cycle Capital benefits from a privileged relationship with its strategic partners including Brookfield Renewable Power, Rio Tinto Alcan, Cascades, The Master Group L.P, Lonza, Gaz Métro and Systemex Energies.

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 For more information: Isabelle Perras, 514 282-4630, [email protected]

Cycle Capital Management continues its investments in Quebec

Cycle Capital Management (CCM) Inc. has today announced an additional 3.5 million-dollar investment by Cycle Capital Fund I, L.P. in Enerkem, a leading Quebec business specializing in converting waste into clean fuel, alongside a much larger round with a number of highly respected US investors at a significant increase in value.

“Cycle Capital invests in companies developing and commercializing clean technologies, and Enerkem offers significant opportunities for growth in this sector. Our financial support will, among other things, allow Enerkem to retain its position among the world leaders in the second- generation biofuels industry,” said Andrée-Lise Méthot, Founder and Senior partner of Cycle Capital Management (CCM) Inc. “We are always very pleased to be able to accompany companies like Enerkem, who share our approach and vision, in achieving its objectives.”

“We are proud to have Cycle Capital reinvest in our company,” said Vincent Chornet, president and chief executive officer of Enerkem. “Cycle Capital and Enerkem are pioneers in the cleantech and renewable energy sectors, and together we are propelling our contribution and reach in these fast-growing industries.”

This reinvestment brings to $ 7 million Cycle Capital’s participation in Enerkem. To this date, the Cycle Capital Fund portfolio includes nine companies, for a total in investment of $ 39.7 million.

About Enerkem

Enerkem is pioneering a new line of chemicals and fuels made from garbage instead of oil or other fossil fuels. Enerkem’s cost-effective technology uses waste materials, such as unrecyclable household garbage, demolition debris and used utility poles to create advanced ethanol, acetates and other useful clean chemicals that form our everyday products. The company currently operates two facilities in Quebec and in 2010 began construction of a municipal waste-to-biofuels plant in Alberta. In 2011, Enerkem will break ground on a similar facility in Mississippi for which it was awarded US$130 million from the USDA and U.S. DOE. Enerkem was named one of the World’s 50 Most Innovative Companies by Fast Company Magazine in 2011. www.enerkem.com

About Cycle Capital Management (CCM)

Cycle Capital is a pioneer among Canadian venture capital funds focused on the cleantech sector. The fund invests in companies developing and commercializing clean technologies and projects in renewable energy generation that are focused on reducing greenhouse gas emissions, optimizing resources use, and decreasing impacts over their entire life cycle.

With nearly $ 125 million under management, Cycle Capital invests primarily in the north-eastern of North America. The fund has assembled a team of investment professionals, advisors and strategic partners, internationally respected for their combined experience in building, nurturing and growing world class companies. Cycle Capital benefits from a privileged relationship with its strategic partners including Brookfield Renewable Power, Rio Tinto Alcan, Cascades, The Master Group L.P, Lonza, Gaz Métro and Systemex Energies. www.www.cyclecapital.com

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For more information: Isabelle Perras, 514 282-4630, [email protected]

UTILICASE successfully Completed Last round of Financing

UTILICASE announced today that it has successfully completed the last round of financing required to fuel its carefully planned profitable growth strategy. UTILICASE has concluded a $5Millions investment deal with Cycle Capital Fund I, a Clean Technology Investment Fund. This deal is the last round of a total of $10Millions investment concluded during the last six months.

The profitable growth strategy of UTILICASE is structured around the fast growing market of its Asset Care Optimization and Investment Planning EPS-M product worldwide. This will significantly leverage its Business/IT Consulting and System Integration Activities.

“The deal with Cycle Capital that is the last piece in a total of $10Millions investment concluded during the last six months will allow UTILICASE to accelerate the execution of the take-to-market strategy of its flagship Asset Care Optimization and Investment Planning Product EPS-M and provide additional investment for the continuous development of Innovative solutions in the IT and Operation Technology for the Power Utilities”, added Mr. Forget.

“UTILICASE offers a technology which will allow the optimization in real time of electrical production management. With this new tool, the UTILICASE team is revolutionizing practices both in the asset management and in the production of energy ” indicated Andrée-Lise Méthot, Founder and Senior partner of Cycle Capital Management (CCM ) Inc.

UTILICASE has successfully launched its EPS-M3.3 flagship product on February 2, 2011 at Distributech in San Diego, CA.

About UTILICASE
UTILICASE is an industry leader in asset care optimization and IT solutions for power Utilities. The company’s EPS-M software is an asset management software platform designed to help power companies optimize and manage resources. The company also houses a consulting arm that provides integration and technology management services to utilities. For more information, visit www.utilicase.com.

About Cycle Capital Management (CCM)
Cycle Capital Management (CCM) Inc. is a private fund manager that focuses its investments on companies developing and marketing clean technologies and renewable-energy that are focused on reducing greenhouse gas emissions, optimizing resources use, and decreasing impacts over their entire life cycle. For more information, visit www.www.cyclecapital.com .

Media Contact :

UTILICASE :
Spero Mensah, Chief Strategy Officer, 425-241-8379 – [email protected]
SmartMark Communications SmartMark Communications, Lyndsay Cherry, +1-215-504-4272 – [email protected]

CYCLE CAPITAL MANAGEMENT (CCM)
Andrée-Lise Méthot, Fondatrice et associée principale, 514 495-1022 – [email protected]

$42M in venture capital to be invested in Québec companies specializing in clean technologies

The Minister of Economic Development, Innovation and Export Trade, Clément Gignac, announced the closing of the Seed Fund Cycle-C3E and said it is now ready to invest in companies specialized in the cleantech sector. The Minister was joined for the occasion by Jacques Daoust, President and Chief Executive Officer of Investissement Québec; Janie C. Béïque, Senior Vice President, Nouvelle économie du Fonds de solidarité FTQ; and Andrée-Lise Méthot, Founder and Senior Partner of Cycle Capital Management (CCM) Inc.The fund aims to increase available capital for the early-stage financing of companies specializing in clean technologies. This is one of three seed funds in the technology sector announced by the Québec government.

“This seed fund will allow Québec to expand its venture capital offer for cleantech companies. It is important that seed funding be allocated to those firms interested in transitioning from basic research to the application and commercialization of clean technologies. Growth in this sector is worldwide, and the Government of Québec wants to innovate by taking part in ‘green’ investments, which will help Québec companies evolve,” said Minister Clément Gignac.

The Seed Fund Cycle-C3E is managed by a seasoned team with extensive experience in financing technology companies and a solid business network with venture capital funds in Québec, Canada, and the United States. With the support of industrial partners engaged in value creation, the Seed Fund Cycle-C3E is able to complete the value chain to create thriving technology-based companies. This ecosystem, unique to Cycle Capital Management (CCM), provides the opportunity to close the gap between the technology demonstration phase and commercialization.

“Cycle Capital Management (CCM) is delighted to welcome the Seed Fund Cycle-C3E to its platform, which already benefits from the valuable contribution of industrial partners to validate both the technology and the market. Their contribution allows the portfolio to develop at an accelerated pace. Rio Tinto Alcan, Lonza, Gaz Métro and Systemex are the new industrial partners in this second fund and join the industrial partners from the first fund, namely Brookfield Renewable Power, Cascades and the Master Group. Additional sponsors include the Centre d’excellence en efficacité énergétique (C3E), the Fonds de développement économique LaPrade St-Maurice Inc. and Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi” notes Ms. Andrée-Lise Méthot, Founder and Senior Partner of Cycle Capital Management (CCM) Inc.

Funding is provided by various limited partners, including the Government of Québec ($16.5M), through Investissement Québec, the Fonds de solidarité FTQ ($10.9M) and FIER Partenaires ($5.6M), for a total of $33M. An additional $9M in private funding is provided by leading industrial partners from Québec and abroad.

“As a sustainable development player since its creation, the Fund recognizes the importance of establishing practices to protect the environment and improve energy efficiency, and encourages Québec companies to adopt such measures. With this in mind, the Fund became a partner in the first Cycle Capital Fund I. Our investment in this second fund is in response to an important need for financing early-stage companies. We firmly believe that Québec can succeed in this high-growth sector,” says Ms. Janie C. Béïque, Senior Vice President, Nouvelle économie du Fonds de solidarité FTQ.

The closing follows a rigorous process in which promoters were asked to comply with specific conditions such as the signing of employment contracts by key persons, due diligence and a Limited Partnership Agreement signed by all investors involved in the fund.

The capitalization of this fund will be at least $41.5M, and this sum will be invested in companies in Québec. The team at Seed Fund Cycle-C3E can also raise additional funds from private investors for investment in companies outside of Québec.

About seed funds for technology companies
In its 2009–2010 Budget, the Government of Québec announced the creation of three seed funds for technology companies awarded by calls for tenders. In so doing, the government aimed to increase available seed financing for technology companies based in Québec, promote the recruitment of experienced staff to manage these new funds, secure this and other funding further up the financing chain, and broaden the range of the seed financing sector in Québec.

The selection process was conducted by an independent committee of industry experts chaired by Martin Godbout, former Chairman and CEO of Genome Canada.

Seed funds invest in the first stage of business development. The company may be in the process of creation or at the very beginning of its activity, but its business model has not yet been validated.

Seed Fund Cycle-C3E is one of the three seed funds for technology companies announced by the Government of Québec. On October 26, 2010, Minister Clément Gignac announced the closing of Fonds d’investissement Réal, which specialized in information technology and was designed to stimulate innovation and entrepreneurship.

About Cycle Capital Management (CCM) Inc.
A pioneer among Canadian venture capital funds in the cleantech sector, Cycle Capital brings together a unique group of investment professionals, strategic advisors and sustainable development experts who have an in-depth knowledge of the clean technologies and business sector. Cycle Capital Management supports the development of companies by giving talented entrepreneurs access to its resources and an innovative approach based on “lifecycle thinking,” which enables them to accelerate the adoption of their technologies by the market and to become a leader in their sectors of activity. www.www.cyclecapital.com

About Investissement Québec
Investissement Québec’s mission is to promote investment in Québec, contributing to economic development and job creation in all regions. Since its creation, the Society has allowed the realization of investments of over $58 billion and the creation of nearly 179,000 jobs. For more information, please visit www.investquebec.com

About Fonds de solidarité FTQ
With net assets of $7.7 billion at November 30, 2010, this is a development capital company that channels the savings of Quebecers. Its investments in all economic sectors help to create and maintain jobs, and further Québec’s economic growth.

The Fonds de solidarité FTQ acts either as a direct partner or a partner connected via its network of members in 2,052 enterprises. It includes 577,511 shareholders/owners and, alone or with other financial partners, helps to create, maintain and protect 150,133 jobs. For more information, please visit www.fondsftq.com.

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Source:
Jolyane Pronovost
Communications Advisor
Department of Economic Development, Innovation and Export Trade
418-691-5650

For more information:
Josée Béland
Spokesperson
Investissement Québec
514-873-6027

Josée Lagacé
Spokesperson
Fonds de solidarité (FTQ)
514-850-4835

Andrée-Lise Méthot
Fonds Cycle-C3E
514 495-1022 ext. 202

Waste Management and Enerkem announce strategic investment

Waste Management Joins Rho Ventures, Braemar Energy Ventures, BDR Capital and Cycle Capital as Investor in Enerkem

HOUSTON and MONTREAL
Waste Management, Inc. (NYSE:WM) and Enerkem Inc., today announced a strategic investment by Waste Management in Enerkem, as part of Enerkem’s new financing round.

The closing of this new round of financing which generated CDN $53.8 million comes from Enerkem’s existing institutional investors, Rho Ventures, Braemar Energy Ventures and BDR Capital as well as from new investors, Waste Management and Cycle Capital. The new funds raised will be used to support Enerkem’s growth plan, including initiating the construction of its second waste-to-biofuels plant. Morgan Stanley acted as Enerkem’s agent.

Enerkem’s proprietary thermo-chemical technology helps convert waste materials into biofuels such as ethanol. Its technology is able to process diverse carbon-based feedstocks, including sorted municipal solid waste, construction and demolition wood, as well as agricultural and forest residues.

“We want to extract more value from the materials we manage than anyone else in our industry through new and emerging processing and conversion technologies,” said Tim Cesarek, managing director of Organic Growth at Waste Management. “Combining Waste Management’s industry leadership and expertise in the collection and management of a wide range of segmented waste streams with Enerkem’s leading clean technology solutions, we are broadening our portfolio of conversion technologies in the waste-to-biofuels market which is key to developing new, higher value added end markets for materials.”
“This financing round validates Enerkem’s business and advances our path towards leadership in the waste and advanced fuels markets,” said Vincent Chornet, President and Chief Executive Officer of Enerkem. “The financial and strategic support of these world-class investors, bringing together our existing investors with Waste Management and Cycle Capital, will accelerate the transformation of the waste-to-biofuels industry that Enerkem is marshalling.”

In December 2009, Enerkem was awarded US$50 million in funding by the U.S. Department of Energy for development of its planned Mississippi plant. Its commercial-scale demonstration facility in Westbury, Canada, which was completed in 2009, reached 1,000 hours of operation. The new funds raised will be used to support Enerkem’s growth plan, including construction of its second plant, in partnership with the City of Edmonton and Alberta Innovates.

The investment in Enerkem complements Waste Management’s comprehensive waste services in the areas of recycling, landfill, waste-to-energy and landfill gas-to-energy. This investment will also help move Waste Management toward meeting three of its sustainability goals: doubling its renewable energy production and tripling the amount of recyclables processed by 2020, and investing in emerging technologies for managing waste.

About Enerkem
EnerkemEnerkem is a leading waste-to-biofuels company. Its proprietary thermo-chemical technology converts residual materials, such as non-recyclable municipal solid waste, into clean transportation fuels, advanced chemicals and electricity. The company was founded in 2000 and currently operates two plants in Canada: a pilot facility in Sherbrooke and a commercial-scale plant in Westbury. It will soon start the construction of its waste-to-biofuels plant in Edmonton, Canada and is currently developing a similar project in Mississippi, for which it was awarded US$50 million in funding by the U.S. Department of Energy (DOE). www.enerkem.com

About Waste Management
Waste ManagementWaste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Our subsidiaries provide collection, transfer, recycling and resource recovery, and disposal services. We are also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. Our customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more visit www.wm.com orwww.thinkgreen.com.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. In many cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms and other comparable terminology. These statements are only predictions. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.

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For more information contact:
Enerkem
Media : Marie-Hélène Labrie 514.875.0284 x 231 [email protected]
Waste Management
Media: Wes Muir 713.328.7053
[email protected]

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, [email protected]

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)
[email protected]