Cycle Capital and Cycle Momentum announce the appointment of Catherine Bérubé as Chairperson of the Board of Cycle Momentum

Montréal, October 25, 2023 – Cycle Capital and Cycle Momentum announce the appointment of Catherine Bérubé, Partner at Cycle Capital, as the board’s new Chairperson at Cycle Momentum. Catherine will succeed Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital, who has chaired Cycle Momentum for the past nine years. 

“Claude Vachet, Patrick Gagné and I are very pleased to see Catherine take on this new role, and she is the ideal person to support  Cycle Momentum’s next phase of growth. She has been instrumental in delivering the new collaboration with the government of Quebec including in crafting the new Origo program.” Having been the Chairperson of the Board at Cycle Momentum for nearly a decade, Andrée-Lise Méthot adds, “I’m leaving with a sense of accomplishment and, above all, of passing on to the next generation an organization that is healthy and well-funded, with a fantastic team and a mission to develop high-quality climatetech entrepreneurs.” 

Patrick Gagné, CEO of Cycle Momentum, said, “Cycle Momentum’s team and Catherine have been working together for many years. We are excited to strengthen our collaboration to help climatetech startups access capital and enable us to scale the acceleration and open innovation programs, as well as the Origo matching funding program, in the years ahead. I’d also like to highlight the scope of Andrée-Lise’s work for the climate technology ecosystem. Without her, the organization’s development would not have been the same, and I would like to thank her on behalf of the entire Cycle Momentum team and the members of our Board of Directors.”

Catherine joined Cycle Capital in 2014. Her key responsibilities for Cycle Capital have included managing the firm’s “impact investing” practice, investor relations and public affairs. She also leads Cycle Central – a climatetech Innovation hub. In addition, Catherine sits on the boards of Clean Resource Innovation Network (CRIN) and SWITCH. She is also a Member of CVCA’s Diversity and Inclusion Committee.

Cycle Capital

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful, sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit www.cyclecapital.com .

Cycle Momentum

Cycle Momentum is an accelerator and open innovation platform that brings together an international collective of entrepreneurs, investors and innovators. Our mission is to find innovative solutions to the major ecological challenges facing humanity. Member of the Cycle Capital Platform, Cycle Momentum provides entrepreneurs with training workshops, networking sessions and mentoring, and works with leading companies to stimulate technology acquisition and integration. In order to increase the impact of its programs, Cycle Momentum has brought together several local and international investment funds as part of its Circle of Partner Funds, whose members are involved with participating startups.

Cycle Momentum can count on the financial support of the Gouvernement du Quebec, Cycle Capital, Canada Economic Development for Quebec Regions, Investissement Québec, Export Development Canada, Fasken, PricewaterhouseCoopers  and  the TELUS Pollinator Fund for Good.

For more information on Cycle Momentuml, visit :  https://cyclemomentum.com/en/

Mark Little and Raj Singh Join Cycle Capital as Strategic Advisors

Montreal, October 4, 2023 – Cycle Capital, a leading ClimateTech venture capital investment platform, is pleased to announce the addition of two new strategic advisors. Mark Little, Suncor’s former President and CEO and Raj Singh, former Executive Vice President at Marvell Semiconductor, have joined the firm to increase the investment teams’ expertise in industrial scaling up and microelectronics, a key component of Cycle Capital’s Fund V’s investment thesis.

 

“We are delighted that Mark and Raj have joined Cycle Capital. Both Mark and Raj bring a strong combination of executive leadership and energy and microelectronics sector experience to the firm,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital. “Mark will support Cycle Capital in expanding its presence in Alberta, a base for Canada’s leading energy companies, and Raj’s addition will help Cycle Capital reinforce its expertise in semiconductors and continue to expand its presence in the United States.”

 

Mark Little, based in Calgary, served 14 years at Suncor between 2008 and 2022 before becoming the Co-Founder and CEO at Jotson, a climatetech company that helps households manage energy consumption, costs and emissions. Mark has a Bachelor of Science (B.Sc.) in Computer Science from the University of Calgary, a Bachelor of Applied Petroleum Engineering Technology from SAIT, and he completed the Advanced Management Program at Harvard Business School in 2015.

Meanwhile, Raj Singh, was previously executive vice president of the processors business group at Marvell Semiconductor and  joins the Cycle Capital team from San Francisco, California. He has over four decades of executive experience in technology, specializing in the semiconductor industry, including as CEO of Wavesat, a semiconductor manufacturing company that Cavium Networks acquired. Alongside his current role, Raj is the founder of Banchory LLC – an advisory tech consultancy firm –  and a member of the board of directors at Kandou in Switzerland.

 

About Cycle Capital

 

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful, sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit www.cyclecapital.com .

 

Catherine Bérubé +1 514 629-1022  / [email protected]

 

Claude Vachet Named a Canada’s 2024 Clean50 Award Honouree

Toronto, September 28, 2023 – Cycle Capital, a leading ClimateTech venture capital investment platform, is proud to announce that Claude Vachet, Managing Partner, has been named Canada’s 2024 Clean50, an award that recognizes the contribution of 50 Canadian leaders to sustainability.

Canada’s Clean50 Awards are announced annually by Delta Management Group and the Clean50 organization to recognise individuals or small teams, from 16 different categories who have done the most to advance the cause of sustainability and clean capitalism in Canada over the past 2 years.

“I am very honored to become a member of the Clean50 community, amongst which my colleagues Andrée-Lise Méthot and Shirley Speakman are also members,” says Claude Vachet. “This recognition is a testament to the hard work of the entire Cycle Capital team for the past 15 years and the effort we have put in to advance the net-zero transition and support Canada’s climatetech companies.”

“As a founder and Managing Partner of Cycle Capital, I’m very proud to see my partner Claude receive this award. This is a well-deserved recognition for someone who’s tremendously contributed to the climatetech venture capital industry in Canada”, says Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital.

“Claude Vachet’s career marked by numerous investments and profitable exits, Claude has had a major contribution to the success of the leading VC firm in the clean / climate tech market in Canada, with over $600 million in AUM”, explained Gavin Pitchford, CEO of Delta Management Group. “He was chosen after rigorous screening and research by Delta Management, with advice from internal researchers and external advisors, and was among Honourees selected from an initial pool of well over 1,000 well-qualified nominees. “

The Clean50 Honourees list can be found at: http://www.clean50.com/.

About Delta Management Group / Canada’s Clean50:

Leading ESG, sustainability and clean tech search firm Delta Management Group founded, and remains the steward of the Canada’s Clean50 awards, created in 2011 to annually identify, recognize and connect 50 sustainability leaders from every sector of Canadian endeavor, in order to facilitate understanding, collaboration and innovation in the fight to keep climate change impacts below 1.5 degrees C. Ancillary awards also recognize 20 Emerging Leaders and the 24 Top Sustainability Projects of the year, as well as bestow Lifetime Achievement designations

About Cycle Capital

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful, sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit: www.cyclecapital.com .

Information: Gavin Pitchford 416-925-2005 / [email protected]

Catherine Bérubé 514 629-1022  / [email protected]

Cycle Capital announces the appointment of Adriana Danaila as ESG Analyst and Minalou Kunze–Roelens as Analyst

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Montreal, September 12, 2023 – Cycle Capital, a leading ClimateTech venture capital investment platform, announces the expansion of its investment team by adding two new resources. 

Adriana Danaila joins the ESG Impact team as an Analyst. Adriana brings over eight years of experience in consulting and technology, with expertise in financial valuation and Environmental Impact Assessment. Adriana spent the first few years of her career as a Consultant for FTI Consulting and Deloitte France, where she worked on the valuation and quantification of claims relative to damages incurred in the context of litigation and international arbitration. 

Most recently, Adriana worked as an ESG Manager at Iroko, where she developed an ESG notation grid adapted to the fund’s real estate portfolio and ensured that ESG characteristics were considered at each step of the acquisition and management decisions. 

Adriana holds a Bachelor’s in Business Administration from ESSEC Business School and a Master’s in International Relations and Diplomacy from Université Jean Moulin Lyon III. She is currently preparing for her CFA® Level II certification.


Minalou Kunze–Roelens joins the team as an Analyst in the investment team. She previously worked as a Venture Analyst at Creative Destruction Lab, and as an Investment Analyst at Anges Quebec – a leading angel investor network. Prior to that, she was an Investment Associate at Front Row Ventures, Canada’s first pre-seed university-focused venture capital fund and a Partnerships and Seed Fund Intern at Sustainable Development Technology Canada (SDTC).

Minalou holds a Bachelor of Commerce (BCom) with Concentrations in Finance and Managing for Sustainability from McGill University. 

“Cycle Capital is excited to welcome Adriana and Minalou – two very talented women with Impact and ClimateTech investment knowledge. Adriana’s addition to the team will add to Cycle Capital’s growing ESG analysis and reporting expertise. Likewise, Minalou’s strong background in venture capital will be valuable for Cycle Capital’s investment team as we manage our growing ClimateTech pipeline,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

Cycle Capital announces the appointment of Catherine Bérubé as Partner

Montréal, February 21, 2023 – Cycle Capital, a leading ClimateTech venture capital investment platform, announces the appointment of Vice President, Sustainability, Investor Relations & Public Affairs Catherine Bérubé as a Partner.

 

“Claude Vachet and I are proud to see Catherine promoted to Partner. She has been a valuable asset to our leadership team and has demonstrated great ability in fundraising, business development and ecosystem building over the past eight years. Her direct involvement in the firm’s operations, including developing and leading the ESG performance review of our portfolio alongside the investment team, has played an important role. We are enthusiastic to see her take on an increased leadership position in the team and the ecosystem”, says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

 

Catherine joined Cycle Capital in 2014. She is responsible for Cycle Capital’s “impact investing” practice, investor relations and public affairs for Cycle Capital’s platform and the accelerator Cycle Momentum. She also leads Cycle Central – a climatetech Innovation Hub. In addition, Catherine sits on the boards of Clean Resource Innovation Network (CRIN) and SWITCH. She is also a Member of CVCA’s Diversity and Inclusion Committee. 

 

Cycle Capital

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful, sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit: www.cyclecapital.com .

Info

Catherine Bérubé

Partner

[email protected]

+1 514 629-1022

 

Cycle Capital announces the appointment of Ariane Cloutier as CFO

Montreal, December 20th, 2022 – Cycle Capital, a leading ClimateTech venture capital investment platform, announces the appointment of Director of Finance Ariane Cloutier as CFO.

“We are delighted to promote Ariane in this key leadership position. Building on her experience in venture capital and audit, Ariane has demonstrated over the past years great ability and potential to assume her new position. Her direct involvement in the operations of the firm is key for our team and we are enthusiast to see her play an increased leadership role in the team”, says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital. “With this transition, Claude and I would also like to warmly thank Natalya for her contribution to the remarkable development of Cycle Capital and wish her success in her future endeavors”.

Ariane joined Cycle Capital in 2019. In her new role, she will be responsible of financial statements, compliance, production and disclosure of financial information and administrative procedures for a total of six funds, as well as the accelerator Cycle Momentum and Cycle Central.

Ariane has more than 10 years of combined experience in venture capital, accounting, audit and consultancy. She spent 7 years at KMPG as an auditor, where she worked with clients in asset management, private investment and renewable energies. During her time there, she took on many other roles including university recruiter and instructor. Ariane moved on to be Director of Finance for a growth capital venture capital fund. She is a certified accountant (CPA) since 2013, holds a bachelor’s degree in business administration and a specialized graduate diploma (DESS) from HEC Montréal.

Cycle Capital
Cycle Capital is a leading ClimateTech venture capital platform scaling impactful sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit: www.cyclecapital.com .

Info
Catherine Bérubé
Vice President, Sustainability, Investor Relations and Public Affairs
[email protected]
+1 514 629-1022

Cycle Capital announces the appointment of Ricardo Jordan as Associate and Alexandria Papillo as Director of Finance

Montreal, November 22, 2022 – Cycle Capital, a leading ClimateTech venture capital investment platform, announces the expansion of its investment and finance team with the addition of two new resources. 

Ricardo Jordan joins the Investment team as an Associate. Ricardo brings over eight years of experience in cleantech startups, not only at the technology level delivering projects but also in business development and technical sales. Ricardo spent the first few years of his career as a Project Manager at Terragon Environmental Technologies – a Montreal-based company developing novel energy and biochar generation system and wastewater electrochemical treatment systems – where he led the technology implementation efforts in the field.  

Most recently, Ricardo worked as a Business Development Manager at a Peru-based startup, Optima Energía, which focuses on industrial spaces’ digitalization and energy efficiency. In his role, Ricardo worked with clients to identify and develop new business opportunities to maximize energy savings and reduce carbon footprint. 

Ricardo holds a Bachelor’s degree in Mechanical Engineering from McGill University and an MBA from HEC Montreal.  

Alexandria Papillo joins the team as Director of Finance, where she will contribute towards preparing Cycle Capital’s financial statements and assist with accounting and administrative procedures.  

As a CPA Auditor since 2017, Alexandria brings seven years of finance and auditing experience. She previously worked as a Senior Analyst at Gildan, a manufacturing apparel company, for three and a half years in the Financial Planning and Analysis group and External Reporting group. Before Gildan, she worked for nearly four years in Audit and Valuation Services at Deloitte.  

She holds a BA in Accounting and a CPA Auditor title from Concordia University’s John Molson School of Business. 

“Cycle Capital is thrilled to welcome Ricardo and Alexandria – two new talented individuals with unique expertise in technology and finance. Ricardo’s addition to the investment team will bring strong technical and engineering expertise to advance our due-diligence process and investments in innovative ClimateTech startups. Likewise, Alexandria’s financial and auditing background will be valuable for Cycle Capital’s investment team. We received a lot of candidates for these roles and are excited by the knowledge and experience Ricardo and Alexandria bring to the team.” adds Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

Masonite and the Fonds de solidarité FTQ invest in Circular Innovation Fund to scale breakthrough sustainability innovations

Montreal, Paris and Tampa, September 20, 2022 – Masonite International Corporation (“Masonite”) (NYSE: DOOR), the Fonds de solidarité FTQ and a leading in store marketing services provider announced today their investment in the Circular Innovation Fund (“CIF”) – a joint venture between pioneer ClimateTech investors Cycle Capital and Demeter. CIF is a US$150M – €150M impact innovation fund dedicated to scaling circular, sustainable and profitable growth stage companies from North America, Europe and Asia. The fund will positively contribute to climate change mitigation and circular use of resources across various sectors including new materials, packaging, recycling & waste, logistics, eco-efficient processes & design. CIF is an impact innovation fund classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation.

Masonite was founded in 1925 by William H. Mason, engineer, inventor, and apprentice of Thomas A. Edison, on sustainability principles and a revolutionary process that transformed waste wood from the logging industry into durable pressed hardboard. The company continues to build on its legacy today by developing industry-changing innovations and utilizing recycled and renewable materials to create Doors That Do MoreTM.

The Fonds de solidarité FTQ is the largest development capital fund in the province of Quebec. Through its governance and codes of ethics, the Fonds is a socially responsible investor committed to sustainable economic development where people come first.

  • “We continually seek new ways to incorporate sustainable innovations into our products and operations at Masonite. This strategic investment in CIF is another example of our commitment to caring for the environment while identifying new technologies that can make Masonite an even stronger company.  We are pleased to support this important work to identify and support companies that seek to advance the circular economy.” –  Clare Doyle, Chief Sustainability Officer, Masonite
  • “Our actions must accelerate if we wish to leave the next generations a planet where it will be good to live. We are choosing today what their future will be. This is why the Fonds de solidarité FTQ is committed to reaching $12 billion in assets related to sustainable development within 5 years. This is an ambitious but necessary objective, particularly to fight climate change and ensure a just transition.” – Janie Béique, President & CEO, Fonds de solidarité FTQ
  • “We are very pleased to have among our investors one of our founding Limited Partner, Fonds de solidarité FTQ, which has made a serious commitment to fighting the climate crisis, and a new Limited Partner, Masonite, which has an inspiring history of deploying circular processes for almost a century.”- Andrée-Lise Méthot, Founder & Managing Partner, Cycle Capital
  • “The support of prominent institutional, corporate and private investors confirms Circular Innovation Fund’s vision and momentum. Moreover, the set of North American and European investors matches with the global footprint of our investment strategy.” – Stéphane Villecroze, Co-founder & Managing Partner, Demeter

The Fund is also backed by L’Oreal and a broad range of investors including, strategic investor Axens, family offices including Haltra and Claridge, as well as institutional investors, private investors and the managers.

Masonite
Masonite International Corporation is a leading global designer, manufacturer, marketer and distributor of interior and exterior doors for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets. Since 1925, Masonite has provided its customers with innovative products and superior service at compelling values. Masonite currently serves more than 7,000 customers globally. For more information on Masonite, visit: masonite.com.

Fonds de solidarité FTQ

The Fonds de solidarité FTQ invests to build a better society by channeling the savings of its 748,371 shareholders into development and risk capital investments to help Québec transition to a green economy, a people-centred world of work, and a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $17.4 billion in net assets as of May 31, 2022, the Fonds has supported 3,620 partner companies and 296,927 jobs. For more information on Fonds de Solidarité FSTQ, visit fondsftq.com.

Circular Innovation Fund

The Circular Innovation Fund (“CIF”) is a global growth stage venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers – Montreal-based Cycle Capital and Paris-based Demeter. The fund invests in growth-stage companies from North America, Europe and Asia, developing breakthrough new materials, circular packaging, recycling and waste innovations, logistics, as well as eco-efficient processes & design, and circular business models. For more information on the Circular Innovation Fund, visit: circularinnovationfund.com.

Cycle Capital

Cycle Capital is a leading ClimateTech venture capital platform scaling impactful sustainable innovation. Founded in 2009, Cycle Capital invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. Cycle Capital is the founder of Cycle Momentum Accelerator + Innovation Engine. Cycle Capital has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company. For more information on Cycle Capital, visit: www.cyclecapital.com .

Demeter
Demeter is a major European investment platform dedicated to ecological transition. Demeter has over €1.2 billion under management and has carried out 200 investments since 2005. It invests €1m to €30m to support companies at all stages of development: innovative startups, high growth SMEs and infrastructure projects. Its team of 38 is based in Paris, Lyon, Bordeaux, Grenoble, Metz, Madrid and Düsseldorf. Demeter is a responsible and committed investor, signatory of numerous initiatives such as PRI (Principle for Responsible Investment), CDP (Carbon Disclosure Project), iC20, The Shift Project, and initiatives for gender diversity. All Demeter funds since 2021 are classified “Article 9” under the framework of the new European Sustainable Finance Disclosure Regulation (SFDR). For more information on Demeter, visit: demeter-im.com.

 

Info
Catherine Bérubé
Vice President, Sustainability, Investor Relations and Public Affairs
[email protected]
+1 514 629-1022

Ankit Mishra Joins Cycle Capital as Project Manager, Communication and Marketing

Cycle Capital, an impact investor and leading cleantech venture capital investment platform, welcomes Ankit Mishra to the team. As Project Manager, Communications & Marketing, he will lead Communication and Marketing efforts across the Cycle Capital platform and report to the VP of Sustainability, Investor Relations and Public Affairs.

Before joining Cycle Capital, Ankit spent over ten years working for various early-stage startups in the San Francisco Bay Area, the Ontario Government and the OECD, specialising in economic growth, energy transition, and the future of work. Ankit is also an Energy Contributor at Forbes. In 2022, he was named a Fellow at the Energy Futures Lab.

“We are thrilled to welcome Ankit to Cycle Capital,” says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital. “His unique experience in entrepreneurship, marketing and research is a perfect fit for Cycle Capital as we look to scale our Cycle Momentum and Cycle Central initiatives.”

Ankit studied a Master’s degree in International Economics from Sciences Po Paris and a Bachelor’s degree in Mathematics with French from York University (Glendon College).

Cycle Capital portfolio company Rhombus Energy Solutions acquired by global EV solutions manufacturer BorgWarner

Montreal, August 3, 2022 – Cycle Capital – a leading cleantech venture capital platform – announces that its portfolio company Rhombus Energy Solutions (“Rhombus”) has been acquired by BorgWarner (NYSE: BWA) a publicly-traded Tier 1 automotive supplier.

Rhombus supplies patented next-generation bi-directional EV charging infrastructure to EV OEMs, such as Proterra and Blue Bird, as well as integrators that provide grid services, such as Nuvve. High-efficiency power conversion and advanced energy management systems enable Rhombus to offer increased performance and reliability for EV fleet charging.

Since its inception in 2012, Rhombus has become a leader in the EV space and has developed best-in-class Vehicle-to-Grid (V2G) solutions, making it a key contributor to the race to net zero for the transportation sector and improving grid reliability. The acquisition by BorgWarner will allow to accelerate the deployment of EV charging solutions for EV fleets amid exponential growth in the sector.

“We are extremely proud of the company’s progress and glad to have contributed to its growth over the course of our investment in Rhombus. This acquisition is a natural fit between cutting-edge, tech focused companies that are scaling innovative and sustainable e-Mobility solutions.” says Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital.

This transaction has an enterprise value of up to US $185 million. It comes less than two years after Cycle Capital’s investment in the company alongside Emerald Technology Ventures, Inci Holding, Nabtesco Technology Ventures, Greenhouse Capital Partners and private investors.

Rick Sander, Co-Founder, President and CEO of Rhombus said, “After leading an incredibly talented team of people for 10 years at Rhombus, I am energized with taking this next step in achieving our goals and vision to become part of a global industry leader in e-Mobility Charging by joining the BorgWarner organization. The strategic fit with BorgWarner’s Charging Forward initiative is perfect; providing Rhombus the platform to continue our rapid growth by leveraging BorgWarner’s strengths and being part of one of the world’s largest providers of innovative and sustainable mobility solutions for the global vehicle market.”

“The technology that Rhombus brings expands BorgWarner’s electric vehicle portfolio in North America and complements our existing European charging business. This transaction supports our Charging Forward strategy and strengthens our electric vehicle positioning as we look to power the entire propulsion system from grid to wheels,” said Frédéric Lissalde, President and CEO of BorgWarner.

IMPROVED acted as financial advisor to Rhombus’ and its shareholders in the transaction.

Cycle Capital Cycle Capital is an impact investor and leading private cleantech venture capital investment platform. 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. For more information on Cycle Capital, visit: www.cyclecapital.com

Rhombus Energy Solutions

Rhombus develops and manufactures next-generation bi-directional electric vehicle charging infrastructure, high-efficiency power conversion systems and energy management systems (EMS) software for vehicle-to-grid (V2G) capable electric vehicle fleet charging, energy storage and microgrid applications. The high reliability of our solutions is the result of decades of experience developing high-power systems for a variety of applications and deployment scenarios, including UL-1741-SA system-to-grid solutions. For more information on Rhombus, visit: rhombusenergysolutions.com

BorgWarner

For more than 130 years, BorgWarner has been a transformative global product leader bringing successful mobility innovation to market. Today, we’re accelerating the world’s transition to E-mobility — to help build a cleaner, healthier, safer future for all. For more information on BorgWarner, visit: bordwarner.com

Information

CYCLE CAPITAL Catherine Berube [email protected]

+1-514-629-1022