Cycle Capital Management announces the appointment of Pascal Drouin as Junior Partner

Montréal, January 11, 2018 – André-Lise Méthot, Founder and Managing Partner of Cycle Capital Management, Canada’s most active cleantech venture capital investment platform, is pleased to announce the appointment of the current Principal, Pascal Drouin, as junior partner.

“The skills and experience gained by Pascal over the years allowed him to build a strong expertise in portfolio management, risk management as well as financial analysis and modeling. Thanks to his commitment in seeing companies in our portfolio succeed and his team spirit, Pascal is a valuable asset for Claude Vachet and I and a great addition to the partner’s team,” says André-Lise Méthot.

“To join Cycle Capital’s seasoned team of partners is a great recognition and I am eager to keep on working with the entrepreneurs in order to create value for their companies and be able to contribute in an even more active way to the development of our international investment platform,” adds Pascal Drouin, Junior Partner at Cycle Capital.

Pascal Drouin originally joined the Cycle Capital team in 2013 as the Principal, position he held up to today. He has over ten years of experience in various roles, including portfolio and risk management.
Before joining Cycle Capital, Pascal Drouin was a financial analyst for Multiple Capital, role for which he was involved in multiple investment cases covering different sectors, including high-tech, information technology and biotech. He then shifted to the corporate credit field by joining GE Capital, where he was responsible for the development and the implementation of credit score models for their Canadian portfolio. Pascal graduated from HEC Montreal with a Bachelor in business administration and a Master of Science (M.Sc.) in management.

About Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and the most active cleantech venture capital firm in Canada with more than $350M AUM (assets under management). With offices in Montreal, Toronto and Qingdao, in continental China, and a presence in New York and Seattle, CCM invests in companies at the development and growth stages that commercializes clean technologies striving to reduce greenhouse gas emissions, optimizing resource use and improving process efficiency throughout North America.

CCM regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm 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

 

Haier-Ririshun Lejia closes 50M RMB investment from Qingdao Chengtou Haisi Cycle Equity Investment Fund

BEIJING, CHINA – December 8, 2017 – Haier-Ririshun Lejia, an affiliate of Haier, China’s leading consumer electronics and home appliances company, announced today it has received a 50M RMB funding from Qingdao Chengtou Haisi Cycle Equity Investment Fund (Qingdao Haisi Cycle Fund). Haier-Ririshun Lejia is a provider of integrated, technology-enabled solutions to e-commerce service providers and consumers to improve last mile package delivery and extended warranties.

Qi Yunshan, Vice President of Haier Electronics Group and the Chairman of Haier-Ririshun Lejia, announced the funding in the presence of Xing Luzheng, Chairman of the Qingdao City Construction Investment Group and Andrée-Lise Méthot, Founder and Managing partner of Cycle Capital Management. The Honourable Catherine McKenna, Minister of the Environment and Climate Change of Canada and Chen Liang, Director General of Foreign Economic Cooperation Office at the Ministry of Environmental Protection also witnessed the announcement.

The 50M RMB funding is the first investment of the newly established Qingdao Haisi Cycle Fund, a 600 M RMB industrial hi-tech venture capital fund that invests in technology-focused growth stage companies in China and North America that stand to benefit from cross-border collaboration. This investment will enable the development of an efficient and customized package delivery and service platform serving large network of locations and communities across China and addressing critical logistics and supply bottlenecks in e-commerce product delivery.

“We’re very proud that the first investment of the Qingdao Haisi Cycle Fund – a joint venture between Cycle Capital Management with Qingdao City Construction Investment Group, is in Haier-Ririshun Lejia, alongside Haier Group. By leveraging our financial and strategic resources, we are well positioned to support the management team and add value to the company through providing complementary technology connections, business strategy and expansion of market reach, including cross-boarder opportunities,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management. “We also believe this investment will serve as a foundation for broadening collaboration with electronics and home appliances giant Haier Group in emerging technologies, global business acceleration and new initiatives.”

“This funding not only provide new capital to deploy our activities and services throughout China. With both Chinese and a North American investor on board, this funding is a clear demonstration that the technology we’ve developed has a great potential on global markets – a very important seal of approval for Haier-Ririshun Lejia” said Qi Yunshan, Vice President of Haier Electronics Group and the Chairman of Haier-Ririshun Lejia.

About Haier-Ririshun Lejia
Haier-Ririshun Lejia is an integrated service brand of Haier Group, the world’s leading home appliance provider. Haier-Ririshun Lejia is a specialized cluster service platform that aims to be a leading platform in post E-commerce era while Haier Group’s mission is to create innovative home appliances that anticipate the fast-changing needs of consumers all around the world.

About Qingdao City Construction Investment Group
Established in 2008, Qingdao City Construction Investment Group (Chengtou) is wholly owned by Qingdao municipal government and has total assets of 150 B RMB. In order to serve Qingdao’s strategic goal of developing a livable, auspicious and energetic metropolis, Chengtou engages in infrastructure construction, land and property development and investment, solar power generation, healthcare and environmental protection industries, financial services, international capital management, basic materials trading and education via 128 tertiary subsidiaries.

Chengtou plays a significant role in the economic development of Qingdao and has been innovative to improve market-oriented modes of operation in order to turn government resources into enterprises assets, enterprises assets into social capital, and social capital into enterprises capital. It has introduced a number of well-known state-owned key enterprises and municipal supporting units to accelerate the integration and development of land resources enhance land value and achieve win-win development.

About Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and the most active cleantech venture capital firm in Canada with almost $400M AUM (assets under management). With offices in Montreal, Toronto and Qingdao, and a presence in New York and Seattle, CCM invests in companies at the development and commercialization stages that commercializes clean technologies striving to reduce greenhouse gas emissions, optimizing resource use and improving process efficiency throughout North America.

CCM regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm 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

 

Qingdao Chengtou Haisi Cycle Equity Investment Fund closes 600 Million RMB industrial hi-tech Fund

BEIJING, CHINA – December 8, 2017 – Qingdao City Construction Investment Group (Chengtou) and Cycle Capital Management, Canada’s leading cleantech venture capital platform, announced today the first closing of the Qingdao Chengtou Haisi Cycle Equity Investment Fund (Qingdao Haisi Cycle Fund), in the presence of the Honorable Catherine McKenna, Canada’s Minister of Environment and Climate Change and Chen Liang, Director General of Foreign Economic Cooperation Office at the Ministry of Environmental Protection.

A New Industrial Investor in the global venture capital ecosystem
The Qingdao Haisi Cycle Fund, a 600 M RMB industrial hi-tech venture capital fund, will play an important role in the global funding ecosystem by investing growth stage capital in industrial technology startups in China, Canada and North America, and leveraging China and Canada’s forces. As a new investment vehicle, the Qingdao Haisi Cycle Fund therefore embodies a collaboration between two major players at the forefront of developing innovative, technology-enabled solutions to major global challenges such as industry dislocations and climate change.

“The environment and the economy go together. We know that private investments, like the one announced today, will drive the transition to the low carbon economy and are important in helping accelerate clean growth,” said the Honorable Catherine McKenna, Minister of Environment and Climate Change of the Government of Canada.

“Through this joint endeavor with Chengtou, Cycle Capital aims at fostering the development of high potential innovative businesses across China, Canada and North America. By building a bridge, we will be able to provide better access to capital and strategic resources to the startups – key elements to enable the emergence of disruptive technologies by flagship businesses that are competitive in the global market,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management. “From a Canadian and North American perspective, this partnership will provide interesting opportunities for Cycle Capital’s portfolio companies wishing to expand and invest in China.

The Qingdao Haisi Cycle Fund is already operating and has made its first investment of 50M RMB in Haier-Ririshun Lejia, which provides an integrated technology-enabled, delivery platform to both service providers and the user community, with efficient and customized solutions. Haier-Ririshun Lejia is an affiliate of Haier, a technological leader in consumer electronics and appliances based in Qingdao. The Qingdao Haisi Cycle Fund is actively evaluating a rich pipeline of investment opportunities and welcomes inquiries and collaboration with entrepreneurs and co-investors.

About Qingdao City Construction Investment Group
Established in 2008, Qingdao City Construction Investment Group (Chengtou) is wholly owned by Qingdao municipal government and has total assets of 150 B RMB. In order to serve Qingdao’s strategic goal of developing a livable, auspicious and energetic metropolis, Chengtou engages in infrastructure construction, land and property development and investment, solar power generation, healthcare and environmental protection industries, financial services, international capital management, basic materials trading and education via 128 tertiary subsidiaries.

Chengtou plays a significant role in the economic development of Qingdao and has been innovative to improve market-oriented modes of operation in order to turn government resources into enterprises assets, enterprises assets into social capital, and social capital into enterprises capital. It has introduced a number of well-known state-owned key enterprises and municipal supporting units to accelerate the integration and development of land resources enhance land value and achieve win-win development.

About Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and the most active cleantech venture capital firm in Canada with almost $400M AUM (assets under management). With offices in Montreal, Toronto and Qingdao, and a presence in New York and Seattle, CCM invests in companies at the development and commercialization stages that commercializes clean technologies striving to reduce greenhouse gas emissions, optimizing resource use and improving process efficiency throughout North America.

CCM regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm 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

 

ESS Inc. raises $13 million from investor group to drive company expansion and development of its energy storage systems

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.”

Cycle Capital Management welcomes CDPQ’s new investment strategy on climate change

Montreal, October 19th, 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

 

Provincial Budget: Cycle Capital welcomes the government’s support to foster a dynamic venture capital industry in Quebec

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

 

Federal Budget: Cycle Capital Welcomes the Government of Canada’s Decision to Accelerate Investments in Clean Technologies

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

Ten Million Dollars in investment for Airex Energy’s new biomass torrefaction plant

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

Cycle Capital Management pairs up with leading industrial partners in MineSense Technologies

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

Montreal, February 13th, 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

Canada’s global competitiveness threatened by lack of adequate financing of cleantech innovations

New study identifies gaps in financing chain for Canada’s cleantech sector

December 6th, 2016, Ottawa, Ontario – Cycle Capital Management, and Sustainable Development Technology Canada (SDTC), in collaboration with Écotech Québec, released today a study on the financing chain of Canadian cleantech sector. The study was directed by Gilles Duruflé, a renowned consultant in the venture capital sector, in collaboration with Louis Carbonneau, Founder and CEO of Tangible IP and recognized expert in intellectual property.

Titled, Forging a Cleaner and More Innovative Economy in Canada, the study examined the current challenges of the financing chain to foster innovation in Canada’s cleantech sector. In an in-depth analysis of the sector’s access to domestic venture capital, venture debt and grants, the study points to a number of areas for urgent improvement where Canada lags other global leaders.

“Many discussions are ongoing to define Canada’s action plan for climate change and, developing a strong Canadian cleantech sector is definitely part of the solution. Considering our expertise, we wanted to provide as much data and facts as possible to better understand how to shift to a greener economy by building competitive cleantech companies with a significant Canadian ownership. Partnering with Sustainable Development Technology Canada was both strategic and natural for us considering its important contribution to the Canadian cleantech sector”, explained Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management.

Said president and CEO of Sustainable Development Technology Canada, Leah Lawrence, “There is intense global competition in the cleantech arena, as nations strive to capitalize on the environmental, economic and social benefits derived from cleantech innovation. Given the significant investment in this area, we wanted to find out where Canadian cleantech may have an advantage. Working together with Cycle Capital, we commissioned a study that, amongst other things, examined the number of publications and patents held by Canadians in key segments of the clean technology sector.”

The study benchmarked Canadian cleantech against the US cleantech sector and identified strengths and weaknesses in relative economic terms. Whereas Canada was shown as leading when it comes to research, in particular cleantech research undertaken by academic institutions, Canada failed to compete in commercializing that research into market-ready technologies, as measured by the number of filed cleantech patents.

Moreover, the study shows that Canada has 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.

The study was completed in the hopes that now, with areas of weakness identified in the financing chain, Canada’s industry, government and investment sectors will be better able to work together and take action to make the Canadian cleantech sector competitive on a global scale.

To access the full study please visit CCM-SDTC_Forging-a-cleaner-economy

About Cycle Capital Management

A pioneer among Canadian venture capital funds focused on the clean-tech sector, 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 $230 million, Cycle Capital, invests in Quebec and North America. Cycle Capital, based in Montreal with an office in Toronto and presence in New York and Seattle, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital 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 visit: www.cyclecapital.com .

About Sustainable Development Technology Canada

Sustainable Development Technology Canada (SDTC) acts as a primary catalyst in building a sustainable development technology industry in Canada, funding and supporting Canadian clean tech projects across a number of sectors. SDTC invests in Canadian companies that through their innovative technologies bring positive contributions to Canada: creating quality jobs, driving economic growth, and preserving our environment. SDTC is a foundation funded by the Government of Canada.

 

For more information regarding this study, please contact:

Gillian Cartwright
Manager, Public Affairs
Sustainable Development Technology Canada
[email protected]
613.234.6313, ext. 350

OR

Catherine Bérubé
Head of Communications and Public Relations
Cycle Capital Management
[email protected]
+1 514 629-1022