The Ecofuel Accelerator, a reference for the cleantech entrepreneurs, announces the three businesses of its Spring 2016 Cohort. These three companies selected among 28 applicants compose the third cohort of the Ecofuel Accelerator.
Entrepreneurs from Azastra Opto, Kelvin Storage and Lito will experience a mentoring program tailored to their needs in the next four months. They will be advised and taken care of by about forty mentors who are a reference in cleantech, business and entrepreneurship.
- Azastra Opto is a business founded in 2013 that focuses on the development and sales of optoelectronic components such as high efficiency optocouplers for hybrid and electric cars and high performance phototransducers for a wide range of applications using optical fiber for power transmission.
- Kelvin Storage designed an energy storage unit transforming power produced in off peak hours in high temperature energy to redistribute it in a thermal form. Their system allows a better power supply management and reduces greenhouse gas (GHG) emissions.
- Lito makes the first 100% electric luxury motorcycle, the Sora. This vehicle provides a maximum range of 200 km and an impressive acceleration.
“The number of applications we received during the selection process demonstrates the entrepreneurs needs for the acceleration stage in the cleantech sector, says Richard Cloutier, President and Chief Executive Officer of the Ecofuel Accelerator. Also, the quality of these applications, even those that were not selected, confirms we are becoming a reference. We are particularly proud of the three businesses Ecofuel will accelerate in the coming months. The financial support is strategic, but what really makes a difference is our capacity to provide a personalized approach to meet our entrepreneurs’ needs. Our mentors take the time to discuss with every one of our entrepreneurs during the program. If we look at our alumni companies, we can predict our mentors’ contribution will make a huge difference in the development of these three companies without any doubt.”
“We’re always proud to provide a strategic financial support to the Ecofuel Accelerator and the entrepreneurs participating in their program. The progression of the entrepreneurs in the previous cohorts demonstrates the acceleration program delivers results. We are confident Richard, his team and the mentors, will do a great job with this new cohort”, says Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital and Chair of the Board of Directors of the Ecofuel Accelerator.
This third cohort will end in May 2016.
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 $75,000, 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 and Sustainable Development Technology Canada (SDTC).
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