Category: News

PORTLAND, OREGON – December 12, 2017 – ESS Inc., the leading manufacturer of safe, low-cost and long-duration flow energy storage systems, announced that it has received $13 million in new Series B funding. The round includes new investors led by global chemical industry leader BASF, as well as Cycle Capital Management, Presidio Partners Investment Management and InfraPartners Management. They were joined by ESS’s original investors, including Pangaea Ventures.

The new funding will be used to expand and automate the manufacturing process of the company’s iron flow battery, the Energy Warehouse™. Leveraging the capital efficiency of the product’s advanced technology, the investment will enable 900 MWh per year production capacity. It will also support the company’s business development activities with system integrators and strategic partners, creating a stronger ecosystem for promoting its clean, low-cost, long-duration energy storage solution.

“BASF is committed to supporting new energy technologies that can transform businesses and communities by adding flexibility, expanding use of renewable sources, and building a sustainable future,” said Markus Solibieda, Managing Director, BASF Venture Capital. “After conducting extensive research across a range of battery technologies, designs and developers, we’ve concluded that ESS offers a superior combination of low-cost, clean, safe and long-life chemistry; scalable architecture, and management experience.”

Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management, commented: “We invest in companies that have talented management teams, who are leading the development of advanced technology for a sustainable global future. Based on an in-depth review of a wide variety of existing solutions, we invested in ESS because they have the cleanest and the best low-cost energy storage solution on the market. This solution meets real-world needs with highly favorable economics. We believe they are well positioned for rapid expansion.”

“This investment underscores the strength of our technology, its value in the large, high-growth energy storage market, and our ability to execute strategically,” said Craig Evans, founder and CEO of ESS Inc. “Customers are seeking cleaner, higher-performing alternatives to lithium-ion that can provide scalable, long-life, longer-duration storage – and in combination with renewables, achieve economic parity with conventional generation. ESS’s safe, low-cost, and sustainable all-iron flow battery is the ideal solution.”

Montreal, October 19^th, 2017 – Cycle Capital Management, Canada’s leading cleantech venture capital platform, welcomes the Caisse de dépôt et placement du Québec’s (CDPQ) investment strategy on climate change announced yesterday. With this commitment, CDPQ, one of Cycle Capital’s investor, not only set ambitious targets and concrete actions in the fight against climate change, but also takes a lead position as an investor in the transition to a low carbon economy.

“It is an important and clear message CDPQ is sending to all the major assets managers worldwide. With a $8 billion increase in low carbon investments, CDPQ, already an important investor in renewable energy, sends a strong signal that climate change is already affecting our economy and we need to invest in clean technologies to tackle this issue. This strategy also demonstrates low carbon investments generate significant and profitable investment opportunities,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management.

This new investment strategy will factor climate change in every investment decision through the entire CDPQ’s portfolio. It will also increase CDPQ’s low carbon investments by 50% by 2020 and reduce its carbon footprint by 25% per dollar invested by 2025.

About Cycle Capital Management

Cycle Capital Management (CCM) is an impact investor and the most active cleantech venture capital firm in Canada. CCM invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.

With assets under management of $230M, CCM invests in North America. Headquarted in Montreal with offices in Toronto, New York, Seattle and Qingdao in China, CCM regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management, visit: www.cyclecapital.com .

Catherine Bérubé
Head of communications and public relations
[email protected]
+1 514 629-1022

Quebec City, Tuesday, March 28, 2017 – Cycle Capital Management, the most seasoned and active cleantech venture capital firm in Canada welcomes the support of the Gouvernement du Québec to foster a dynamic venture capital industry in Quebec, as part of the 2017 provincial budget.

Notably, Cycle Capital welcomes the Gouvernement du Québec’s support to the venture capital companies planning to qualify for the Venture Capital Catalyst Initiative – a $400M fund created through Business Development Bank of Canada (BDC) to increase late-stage venture capital available to companies for their expansion, notably in the cleantech sector. This fund could act as a catalyst to establish a low-carbon economy in Quebec. Cycle Capital’s portfolio companies could directly benefit from this fund.

“Venture capital is a key element in the cleantech innovation development. The creation of a new fund will fill some of the gaps of the cleantech financing chain, help develop a performing VC industry in this sector in Quebec and build flagship companies,” says Andrée-Lise Méthot, founder and Managing Partner of Cycle Capital Management. “With its support to the launch of this fund, the government reiterates its commitment to the establishment of a prosperous green economy in Quebec by accelerating the development of globally competitive cleantech companies,” added Ms Méthot.

The government also announces significant investments in public transit projects, the broadening of the ethanol production refundable tax credit, a $4.4M investment to create an industrial electric and smart vehicle cluster and a $60M investment to develop, transfer and commercialize innovations. These measures aim to build a greener economy in Quebec.

About Cycle Capital Management

Cycle Capital Management is the most active cleantech VC in Canada. Cycle Capital invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.

With assets under management of $231M, Cycle Capital invests in Quebec and across North America. Cycle Capital Management, which is based in Montreal with an office in Toronto and points of presence in New York, Seattle and Qingdao in China, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management visit: www.cyclecapital.com .

Catherine Bérubé
Head of communications and public relations
[email protected]
+1 514 629-1022

Ottawa, Wednesday, March 22, 2017 – Cycle Capital Management, the most seasoned and active cleantech venture capital firm in Canada, welcomes the Government of Canada’s decision to accelerate the transition to a low-carbon economy with important clean technologies investments as part of the 2017 federal budget.

More specifically, because venture capital can foster a dynamic cleantech ecosystem in Canada, Cycle Capital welcomes the creation through Business Development Bank of Canada (BDC) of a $400M fund, the Venture Capital Catalyst Initiative, to increase late-stage venture capital available to companies for their expansion. Cycle Capital also salutes the decision to double investments in clean technologies over the next five years with $1.4B in new financing through BDC and Export Development Canada (EDC) to help clean technology firms grow and expand. These organizations will offer a combined additional $380M in equity financing to support clean technology firms looking to scale, $570M in working capital to support established cleantech companies and $450M in additional project finance for high-capital-intensive early stage clean technology companies. The 2017 federal budget also announces the recapitalization of Sustainable Development Technology Canada’s (SDTC) SD Tech Fund with $400M in new investments over 5 years.

Venture capital (VC) is one of the key component of clean technology development and Canada has been lagging behind its competitors on this front over the last decade. These investments will play an important role in reducing Canada’s greenhouse gas emissions and also establishing a low-carbon economy in Canada by fostering innovation and growth in cleantech sector, as stated in the Pan-Canadian Framework on Clean Growth and Climate Change. Cycle Capital’s current and future portfolio companies will directly benefit from these investments.

“With these substantial investments, the Government of Canada shows vision and demonstrates its true willingness to build a greener economy in Canada by accelerating the development of cleantech innovations and the creation of competitive Canadian companies able to play a role on the global scene,” says Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management.

$20B over 11 years will also be invested to support public transit projects and $22B over 11 years to support green infrastructures. “Investments in clean technologies and in public transit are all example of how this budget will foster a cleantech innovation economy and accelerate Canada’s transition to a low-carbon economy,” adds Andrée-Lise Méthot.

The study titled Forging a Cleaner and More Innovative Economy in Canada released in December by Cycle Capital and SDTC showed that whereas Canada was leading when it comes to research, Canada failed to compete in commercializing that research into market-ready technologies. It also revealed that Canada lagged behind the United States on a per capita basis in both venture capital and debt financing, both critical components in helping companies innovate, scale up their operations and commercialize their technologies.

To access the full study please visit https://cyclecapital.com/wp-content/uploads/2016/12/CCM-SDTC_Forging-a-cleaner-economy_FINAL.pdf.

About Cycle Capital Management

Cycle Capital Management is the most active cleantech VC in Canada. Cycle Capital invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.

With assets under management of $231M, Cycle Capital invests in Quebec and North America. Cycle Capital Management, based in Montreal with an office in Toronto and points of presence in New York, Seattle and Qingdao in China, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management visit: www.cyclecapital.com .

Catherine Bérubé
Head of communications and public relations
[email protected]
+1 514 629-1022

Bécancour, Monday, February 27th, 2017 – Cycle Capital Management, Desjardins-Innovatech and other investors such as TechnoClimat and Sustainable Development Technology Canada invested more than $10M in Airex Energy. This investment will expand the commercialization of the CarbonFX™, a technology that converts biomass into biocoal, and finance the new plant operations, which will showcase the company’s biomass torrefaction technology.

“In the context of global warming, energy producers are now coping with new challenges with the adoption of environmental constraints. As such, Airex Energy’s technology is a promising solution which makes the company an indispensable player on a wide variety of markets in North America and overseas,” says Andrée-Lise Méthot, founder and Managing Partner at Cycle Capital Management.

“We are very proud to be an actor in the international deployment of a technology that was developed in Quebec and which will help reduce the carbon footprint of thermal power plants worldwide,” says Luc Ménard, Chief Operating Officer of Desjardins Business Capital régional et coopératif.

“The commercialization of a new technology is a critical step for a company like Airex Energy. Supported by our partners, we will able to deploy our technology and stimulate exports worldwide,” adds Sylvain Bertrand, CEO of Airex Energy.

About Airex Energy
Airex Energy is a spin-off from Airex Industries, which specializes in the manufacturing of industrial air-treatment systems which has been established in Laval and Drummondville, Quebec for over 30 years. Airex Energy is a technology company that develops and markets biomass torrefaction systems. The CarbonFX™ patented technology converts any type of biomass into biocoal, a clean and renewable alternative to coal.

About Cycle Capital Management
A pioneer among Canadian venture capital funds focused on the clean-tech sector, Cycle Capital Management invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.
With assets under management of $230M, Cycle Capital Management, invests in Quebec and North America. Cycle Capital Management, based in Montreal with an office in Toronto and points of presence in New York, Seattle and Qingdao in China, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management visit: www.cyclecapital.com .

About Desjardins-Innovatech L.P.
Desjardins-Innovatech investment fund’s mission is to provide and support Quebec technological or industrial technological companies while striving to preserve ownership of Quebec-based enterprise and to create flagship companies. The Fund – managed by Desjardins Entreprises Capital régional et coopératif, a subsidiary of Mouvement Desjardins – was created in 2005 by the Government of Quebec and Capital régional et coopératif Desjardins. The Fund is partnering with technological stakeholders – specialized investment funds, entrepreneurs, angel investors and technological accelerators – to contribute to the development of promising SMEs. (www.desjardins-innovatech.com)

Information
Catherine Bérubé
[email protected]
514-629-1022

Closing of a $19M round for the Vancouver-based cleantech and smart mining company

Montreal, February 13^th, 2017 – Cycle Capital Management, Canada’s leading cleantech venture capital platform, is proud to be part of this most recent $19M round of financing in MineSense Technologies. Aurus Ventures and Caterpillar Ventures, leading strategic investors in the mining industry, pair up with existing investors Cycle Capital Management, Chrysalix, Prelude and EDC to finance the growth of MineSense.

“Attracting new investors to the investors’ syndicate is part of our strategy developed with MineSense, to have major ore extraction and energy players sharing deep knowledge of the mining industry. This partnership with a leading mining operator and the leading global transport and equipment manufacturer will bring international exposure to this disruptive technology, and help accelerate commercialization in new markets,” said Andrée-Lise Méthot, founder and managing partner of Cycle Capital Management. “The mining industry is an important sector where clean technologies can truly change the rules. At Cycle Capital Management, we are convinced that technologies such as those developed by MineSense can not only improve the bottom line and profitability of ore sorting, but can also have a sustainable impact on the environmental footprint of the mining sector.”

“Since its investment, Cycle Capital Management has been a key partner for MineSense. This tight association has provided us strong support to develop new strategies and reach targeted milestones which resulted in attracting new mining and industrial leaders on board”, said Jeff More, CEO of MineSense.

The MineSense system integrates directly into existing mining shovels and conveyers to provide real-time information that enables ore sorting and enhances mine planning. Through recent field trials, MineSense has demonstrated that its technology platform can improve the bottom line at a single mine by a factor of $20 to $200M annually.

About Cycle Capital Management
A pioneer among Canadian venture capital funds focused on the clean-tech sector, Cycle Capital Management invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.

With assets under management of $230M, Cycle Capital Management, invests in Quebec and North America. Cycle Capital Management, based in Montreal with an office in Toronto and presence in New York, Seattle and Qingdao in China, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management visit: www.cyclecapital.com

Information:
Catherine Bérubé
Head of Communications and Public Relations
[email protected]
+1 514 629-1022

Enerkem Inc. (Enerkem), a waste-to-biofuels and chemicals producer, announced today it has raised C$152.6 million and has initiated the production of biomethanol from non-recyclable household garbage at the Enerkem Alberta Biofuels full-scale facility in Edmonton, Canada.

“I must say a huge thank you to our financial partners, employees, as well as the City of Edmonton and Alberta Innovates – Energy and Environment Solutions who believed in us and have accompanied us while we were reaching this pivotal operational milestone,” said Vincent Chornet, president and chief executive officer of Enerkem. “We are about to fundamentally transform the waste industry over the coming years and allow energy and chemical groups access to a new and competitive source of renewable carbon.”

The financings are comprised of a recently accessed C$29 million debt facility from Integrated Asset Management Corp.’s (IAM) Private Debt Group as well as C$50 million in private placements from current investors and C$73.6 million of debt from two other lenders, closed over the past year. This funding will be used for the product expansion of the Edmonton facility and the company’s global growth.

About Enerkem

Enerkem makes biofuels and renewable chemicals from waste. With its proprietary technology, Enerkem converts non-recyclable municipal solid waste into methanol, ethanol and other widely used chemical intermediates. Headquartered in Canada, Enerkem owns a full-scale commercial facility in Alberta as well as a demonstration plant and a pilot facility in Quebec. The company is developing additional biorefineries in North America and globally, based on its modular manufacturing approach. Enerkem’s technology and facilities help diversify the energy mix and make everyday products greener while offering a sustainable alternative to landfilling and incineration.

www.enerkem.com

About IAM

Integrated Asset Management Corp. (TSX:IAM) is one of Canada’s leading alternative asset management companies, with assets and committed capital under management in private corporate debt, real estate and managed futures. IAM’s Private Debt Group is Canada’s largest independent provider of investment grade, senior private debt.

Media Contact:

Marie-Hélène Labrie, Senior Vice President, Government Affairs and Communications, Enerkem Inc.
[email protected]
T : +1 514 875-0284, x. 231

Inocucor Technologies Inc., the agriculture biotech company that produces sustainable biological accelerators for farmers, has received a notice of allowance from the U.S. Patent and Trademark Office for its patent application to protect Inocucor consortia and unique microbial products that accelerate plant growth and enhance yields on farms and in greenhouses.

This initial patent relates to Inocucor’s live IN-M1 microbial consortium and its fermentation byproducts, which are the basis of the formulation for Inocucor Garden Solution™, the company’s first-generation growth-accelerator product. Garden Solution is formulated to naturally sustain robust plant growth, increase plant vigor and actively build a friable and rich soil, improving the health of the entire phyto-microbiome.

The patent applies to each of the individual Inocul-M™ microorganisms characterized by Inocucor and in other task-specific live consortia like IN-M1. Also protected are the biological ingredients produced during Inocucor’s multi-species manufacturing process.

“Inocucor pioneered this proprietary fermentation process that combines natural bacteria and yeasts into powerful living growth stimulants for soil, seeds and plants,” said Dr. Margaret Bywater-Ekegärd, co-founder and executive vice president of technology and innovation at Inocucor. “It is the first of numerous patents we expect to be granted for our unique approach to processes and products for bio-stimulation, bio-fertility and bio-protection.”

Inocucor’s protection extends to the delivery of these compositions to any plant part, above or below ground, anywhere a plant grows—in a farm field or in a greenhouse–including seeds and fruit. Protection covers all types of growing systems, including vertical farming, aeroponic and hydroponic systems. This means that Inocucor’s Garden Solution is now available as a proprietary technology for the protection of natural ingredient production, whether it be for cultivation of specialty food crops and high-value produce or in formulations together with plant nutrients.

Based in Montreal, Inocucor produces sustainable bio-based products that improve crop yields, shorten growing periods and create healthier, more resilient soils for organic farmers, greenhouse growers and mainstream production farmers. Its core technology was developed in 2007 by Dr. Bywater–Ekegärd and Ananda Lynn Fitzsimmons, who believed that microbial, rather than chemical, solutions would be needed to help farmers feed a growing world population.

Inocucor recently opened a new headquarters and lab in Montreal’s bioscience corridor that is compliant with current Good Manufacturing Practices (cGMPs) for the food industry. It has attracted collaborators from both the private and academic sectors in Canada and the U.S.

Inocucor has received two rounds of venture capital from Cycle Capital Management, a respected Canadian venture capital firm focused on the clean-tech sector. In early February 2015, Inocucor closed an interim round of financing from Cycle Capital Management with participation from Desjardins-Innovatech, the venture capital unit of one of North America’s leading financial institutions, and most recently with two US-based family offices.

The company recently launched its Series B equity financing, on the order of $15 million, and expects its completion during the second half of 2015.

About Inocucor Technologies Inc.

Inocucor Technologies Inc., based in Montreal, is an ag biotech company that develops sustainable biological products for agriculture targeting the phyto-microbiome—the seeds, plants, root systems and the soil surrounding them. Inocucor’s first-generation product, Garden Solution™, employs live microbes to actively improve the health of the entire phyto-microbiome. Future generations of Inocucor products are powerful cell-free biological solutions for bio-stimulation and bio-protection in mainstream production agriculture. For more information, visit

www.inocucor.com

Media Contact:

Michele Wells
[email protected]
T : 303-417-0696
Website