Press release
More than 120 investors, entrepreneurs and cleantech ecosystem representatives attended Tuesday night Ecofuel’s first “Green Light Event”, the presentation of the accelerator’s first cohort of companies: Electrocatalysis Canetique, FilmOrganic, SabrTech and Netlift.
“We are very proud of the progress made by Eric Proietti, Michel Lefèvre, Hugo Meunier, Roger Tambay, Mather Carscallen and Marc-Antoine Ducas. The entrepreneurs underwent an intense three-month process with workshops and coaching from our network of top mentors, experts and investors. But it is because of their dedication and hard work that each company is now ready to compete globally”, said Simon McDougall, CEO and Head Coach of Ecofuel.
“Innovation do not exists without the talent and creativity of entrepreneurs. Because ingenious entrepreneurs and good business sense are the keys to develop technologies and change ways we do things, Cycle Capital is very proud to invest in the acceleration of company growth and push towards a greener economy”, said Andrée-Lise Méthot, founder and managing partner of Cycle Capital and chairperson of the Ecofuel board of directors.
“Enerkem was based on a revolutionary idea: manufacturing biofuels and renewable chemical products from non-recyclable waste. This innovative solution is a game changer, as the ones developed by Ecofuel’s entrepreneurs, and this is why Enerkem is proud to support the first cohort”, said Esteban Chornet, cofounder and chief technology officer at Enerkem.
The Ecofuel Accelerator is currently accepting applications for the second cohort of 2015. Early-stage cleantech companies who would like to apply have until Sunday, May 31st at 5:00PM to submit their application for the next cohort, targeted to begin in August 2015.
About Ecofuel
Ecofuel is an accelerator for startups that works with entrepreneurs in clean technology to help build globally competitive companies. In addition to seed financing of up to $100,000, Ecofuel offers its entrepreneurs an intensive program of training workshops, networking sessions, and an experienced mentor ecosystem. Participating companies will be hosted in a dedicated facility in Montreal for the duration of the program. The objective of the program is to develop entrepreneurs and help in the successful creation of companies.
In addition to the financial and logistical support from Cycle Capital, Ecofuel is also counting on the support and collaboration of Écotech Quebec, Innovatech and Sustainable Development Technology Canada (SDTC).
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 northeastern North America. Cycle Capital is composed of experienced 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 Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec.
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 operates both a demonstration plant and a pilot facility in Quebec as well as a full-scale commercial facility in Alberta. 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
Information:
Catherine Bérubé
Chief of communications and public relations
cberube@cyclecapital.com
T : 514 495-1022 x 203
C : 514-629-1022
Website: ecofuelaccelerate.com
Twitter: @ecofuelaccelerate
