Cycle Capital Management (CCM) Inc. has raised $80 million in completing the first closing of Cycle Capital Fund I, L.P., an investment fund devoted to the clean technology and renewable-energy sector.<\/p>\n
This threshold was reached thanks to the involvement of several partners, including the Government of Qu\u00e9bec (through Investissement Qu\u00e9bec), the Fonds de solidarit\u00e9 FTQ,\u00a0 Fondaction, the Caisse de d\u00e9p\u00f4t et de placement du Qu\u00e9bec, Brookfield Renewable Power Inc., Cascades Inc., the Fonds d\u2019action qu\u00e9b\u00e9cois pour le d\u00e9veloppement durable (FAQDD) and the Centrale des syndicats du Qu\u00e9bec (CSQ).<\/p>\n
Montr\u00e9al-based CCM will continue to raise capital over the coming months.<\/p>\n
\u201cWe are proud to have reached this first stage toward our goal, even in tough economic times,\u201d says Andr\u00e9e-Lise M\u00e9thot, founder and Senior Partner of Cycle Capital Management. \u201cWe are especially proud that this closing was conducted in partnership with the Qu\u00e9bec government, major institutional investors and respected industrial groups such as Brookfield Renewable Power and Cascades.\u201d<\/p>\n
In addition to their financial commitments, Brookfield Renewable Energy and Cascades, as industrial partners of Cycle Capital Management, have agreed to provide technical support in validating technologies as well as business development support for companies that own clean technologies to help them move toward applications with huge potential markets. Richard Legault, President and Chief Executive Officer of Brookfield Renewable Power, says he is pleased to be associated with the Cycle Capital Fund, adding: \u201cBy supporting leaders in tomorrow\u2019s clean technologies, we are helping meet future energy needs and spurring economic growth while promoting high-quality jobs and preserving our environment.\u201d<\/p>\n
Key manufacturing industries are at a turning point and must alter their production and consumption habits. Investments in innovative projects will play a major role in building companies of international scope that can thrive in a fast emerging technology market. \u201cProviding financial support to these clean-technology companies will help them export their know-how and command a place among leaders in the carbon-free new economy,\u201d says Alain Lemaire, President and Chief Executive Officer of Cascades.<\/p>\n
Cycle Capital Management has already invested in six Qu\u00e9bec companies and remains on the lookout for any investment opportunity on markets in Qu\u00e9bec, Canada and the entire northeast of the continent.<\/p>\n
Investing in clean technologies and renewable forms of energy<\/p>\n
Cycle Capital Fund I, L.P.\u2019s mission is to invest in companies that develop and market clean technologies and renewable-energy projects, helping cut greenhouse gases, optimize resources and reduce impacts throughout their entire life cycles.<\/p>\n
Up to now, the Fund has invested more than $13 million in six companies, including:<\/p>\n
SiXtron Advanced Materials Inc., based in Montr\u00e9al, develops and markets an innovative process for placing thin silicon carbide (SiC) layers on various supports applied in the solar energy field.www.sixtron.com<\/a><\/p>\n Vaperma Inc., based in Saint-Romuald, designs, develops, produces and markets innovative gas separation solutions that can be used for fuel-grade ethanol production, natural gas production, biogas treatment and chemical compound dehydration.\u00a0www.vaperma.com<\/a><\/p>\n About Cycle Capital Management About Brookfield Renewable Energy Inc. About Cascades Inc. Source:\u00a0Cycle Capital Management \u2013\u00a0www.www.cyclecapital.com Cycle Capital Management (CCM) Inc. has raised $80 million in completing the first closing of Cycle Capital Fund I, L.P., an investment fund devoted to the clean technology and renewable-energy sector. This threshold was reached thanks to the involvement of several partners, including the Government of Qu\u00e9bec (through Investissement Qu\u00e9bec), the Fonds de solidarit\u00e9 FTQ,\u00a0 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7030","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/comments?post=7030"}],"version-history":[{"count":0,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7030\/revisions"}],"wp:attachment":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/media?parent=7030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/categories?post=7030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/tags?post=7030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nCycle Capital Management (CCM) Inc. is a private fund manager that focuses its investments on companies developing and marketing clean technologies and renewable-energy projects that can benefit from opportunities created by the emergence of a low-carbon economy in North America.<\/p>\n
\nBrookfield Renewable Power Inc., wholly owned by Brookfield Asset Management Inc., has more than 100 years of experience as an owner, operator and developer of hydroelectric power facilities. Its total portfolio includes more than 165 generating facilities with approximately 4,100 megawatts of capacity. It also has a significant hydroelectric and wind project pipeline. Brookfield Renewable Power\u2019s operations are primarily located in North America and Brazil.<\/p>\n
\nFounded in 1964, Cascades produces, converts and markets packaging and tissue products composed mainly of recycled fibres. Cascades employs close to 13,000 women and men working in more than 100 modern and flexible production units located in North America and Europe. Its management philosophy, its 45 years of experience in recycling and its continuing efforts in research and development are strengths that enable the company to create new products for its customers. Cascades shares trade on the Toronto Stock Exchange under the ticker symbol CAS.<\/p>\n
\n<\/a>Information:\u00a0\u00a0Isabelle Perras, 514\u00a0282-4630,\u00a0isabelle.perras@cossette.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"