Corporate finance from the clean technology Fund Ecofuel with $ 30 million to manage is officially launched

News 17 December, 2017
  • Photo Simon Clark

    QMI agency

    Sunday, December 17, 2017 14:34

    Sunday, December 17, 2017 14:38

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    The seed capital fund in the clean technologies promised by the minister of Finance, Carlos Leitao, in his budget 2016-2016 takes off.

    The fund, known as Fund Ecofuel, mounted and managed by the firm Ecofuel has at its disposal a risk capital of $ 30 million, including 20 million from the Québec government (through Investissement Québec).

    The Fund will provide financial support, using money from the public and private sectors, innovative companies in the clean technology sector in Quebec and eastern Canada.

    The Fund Ecofuel has been in operation for a few months and has already made investments in several companies, were announced the leaders of Ecofuel, Sunday, when the announcement of its first closing.

    In addition to Investissement Québec, the other investors in the Fund Ecofuel are BDC Capital (the division of investment of the business development Bank of Canada, Fondaction, the Fonds de solidarité FTQ and the Centre québécois de valorisation des biotechnologies.

    “The creation of the Fund Ecofuel helps to complete the financing chain in Québec in the clean technology sector,” said, Sunday, Andrée-Lise Méthot, founder and associated director of Cycle Capital, co-founder of the Fund Ecofuel.

    The creation of the seed fund in clean technologies was announced in march 2016 by the minister Leitao in his speech on the budget 2016-2017 among a set of measures aimed at stimulating the startup and growth of innovative companies for the period 2016-2021.

    Also, on Sunday, the Quebec government announced at the same time that it granted a financial aid of $ 5.5 million to the business accelerator of Ecofuel “to assist more companies in the field of clean technologies at the stage of the boot”.