More than 80 players in the cleantech sector present

The Spring 2016 Cohort of the cleantech startup accelerator Ecofuel ended its journey in front of more than 80 investors, entrepreneurs and representatives of the industry. Entrepreneurs of Azastra Opto, Kelvin Storage and LITO presented their businesses yesterday evening after participating to a tailored program for them in a highly specialized and effervescent industry.

During their four months participation to Ecofuel, the selected entrepreneurs were propelled through a personalized coaching, adapting to their specific needs. They were trained and counselled by forty renowned mentors in the cleantech sector for their knowledge and their expertise.

“We have clearly established our added value as an accelerator and the entrepreneurs believe we are a reference for startups in the cleantech industry”, says Richard Cloutier, President and CEO of the Ecofuel Accelerator. “Our financial support can be used as a leverage. What really makes a difference is our capacity to provide a personalized framework for our entrepreneurs, with mentors who have significant knowledge and expertise in the cleantech sector and who take the time to discuss with all of them individually. Three of our eleven accelerated companies have concluded follow-on financings and we know that many other will also soon. It’s a great performance indicator of the acceleration Ecofuel offers to the entrepreneurs.”

Ecofuel should soon launch the selection process for the entrepreneurs to compose the Autumn 2016 Cohort. Workshops for this fourth group of cleantech entrepreneurs should kickoff in mid-September.

Ecofuel entrepreneurs’ quotes

“The dynamic and highly competent Ecofuel team and its network of associates ran a program that largely exceeded our expectations. Azastra Opto is pleased to have been selected and our active participation well rewarded.”

– Simon Fafard, Cofounder, President and CEO, Azastra Opto

“Kelvin Storage has a well experienced management team but it’s never too late to learn more from other well experienced mentors. Ecofuel offered that opportunity in spades. In particular getting investment pitch advice from the VC perspective was invaluable. Our congratulations to the entire team for a well-run program!”

– Steve Parker, COO, Kelvin Storage

“Being an entrepreneur in front of VC is challenging and usually you just got a yes or no as an answer. Going through the Ecofuel accelerator program gave us the opportunity to be challenged and interact with VCs but also to rethink and refocus about our business model and strategy in order to raise financing. That was for sure a very good experience above my expectation!”

– Jean-Pierre Legris, Founder and CEO, LITO

Le Centre d’excellence en efficacité énergétique (C3E) et l’Accélérateur Ecofuel propulsé par Cycle Capital Management complètent un financement conjoint de 425 000 $ chez LITO Green Motion inc. (LITO) pour soutenir la commercialisation des motos électriques. La SORA de LITO est considérée comme étant la première moto électrique de type sport cruiser au niveau  mondial et est livrée à des clients à travers le monde depuis 2014. La SORA est une moto haut de gamme, sans compromis d’innovation, de qualité et de performance.  La SORA se distingue de par son style maintes fois récompensé et sa redéfinition complète de l’expérience de rouler à moto.

« L’investissement de 350 000 $ du C3E pour la commercialisation des motos électriques SORA  permettra à LITO de pouvoir courtiser plus rapidement une clientèle de type ‘’early adopters’’ et lui valoir l’excellence de cette technologie d’avant-garde.  LITO aura désormais les moyens de sensibiliser une clientèle spécialisée, dont les corps policiers et les marchés inhérents à ceux‑ci », explique le PDG du C3E, M. Donald Angers.

« Les entreprises qui participent à l’Accélérateur Ecofuel sont très innovantes et leurs produits retiennent l’attention rapide de partenaires de développement. Cela témoigne non seulement de la qualité des projets d’entreprises que nous accélérons, mais aussi de la qualité du programme spécialisé et personnalisé offert par Ecofuel. Nous sommes très fiers des progrès déjà accomplis par LITO et sommes convaincus que l’apport d’Ecofuel et du C3E permettra à l’entreprise de continuer sa progression avec succès », souligne Richard Cloutier, président et chef de la direction d’Ecofuel.

« L’innovation, la qualité et le style de nos produits ont permis à LITO de se positionner de façon favorable dans un marché en pleine émergence. Les efforts effectués jusqu’à présent pour être une des premières entreprises au monde avec un produit commercialement disponible, combiné à cet investissement, nous permettent de positionner LITO de façon favorable à la mise en exécution de notre plan global de déploiement de la marque.  Il s’agit pour nous de la première étape nous permettant de devenir la référence mondiale dans le domaine de la moto électrique », mentionne le président de LITO, monsieur Jean-Pierre Legris.

À propos du C3E (www.c3e.ca)                                                          

Le Centre d’excellence en efficacité énergétique (C3E) est un centre issu de l’initiative de ses deux (2) membres fondateurs Rio Tinto Alcan et Hydro-Québec dont la mission est d’aider les entreprises à commercialiser leurs innovations dans le secteur de l’efficacité énergétique des transports.  Bénéficiant de l’appui financier du Bureau d’efficacité et d’innovation énergétiques du Québec (BEIE), le C3E investit en électrification des transports. Les sommes nécessaires pour accorder cet appui financier sont prises sur le Fonds vert, à même celles prévues pour la priorité 4 du Plan d’action 2013-2020 sur les changements climatiques.

À propos d’Ecofuel (ecofuelaccelerate.com)

Ecofuel travaille avec des entrepreneurs du secteur des technologies propres pour les accompagner dans le démarrage d’entreprises qui seront concurrentielles au niveau international. En plus d’une mise de fonds pouvant aller jusqu’à 75 000 $, Ecofuel offre à ses entrepreneurs un programme personnalisé d’ateliers de formation, de sessions de réseautage et de mentorat, le tout dans l’objectif de développer l’entrepreneuriat et aider à la réalisation de projets d’entreprise.

En plus du soutien financier et logistique de Cycle Capital, Ecofuel peut compter sur l’appui et la collaboration d’Écotech Québec, d’Innovacorp et de Technologies du développement durable du Canada (TDDC).

À propos de LITO Green Motion (LITO) (www.soraelectricsuperbike.com)

Fondé en 2009, LITO développe et commercialise des motos électriques haut de gamme sans compromis de performance, au style unique et comportant plusieurs innovations qui visent à offrir une évolution dans l’expérience de conduite, à une clientèle aisée et sensible aux problèmes environnementaux. LITO a de plus développé plusieurs composantes et applications qui viennent bonifier l’offre commerciale. LITO possède actuellement des clients en France, Allemagne, Canada, États-Unis de même qu’au Kazakhstan.

Pour des informations supplémentaires, veuillez communiquer avec :

C3E
Donald Angers, PDG
+1 819 371-5833
angers.donald@ceee.ca

Ecofuel
Mathieu Lavallée, chef des communications et relations publiques
mlavallee@ecofuelaccelerate.com
+1 514 947-7628

LITO Green Motion inc.
Jean-Pierre Legris, président
+1 514 394-1691
jplegris@litogreenmotion.com

The Government of Québec recognizes the need to invest in innovative cleantech startups.

Ecofuel welcomes the future creation of a seed-stage cleantech investment fund, following the presentation of the Government of Québec 2016-2017 budget. The Government of Québec will indicates its intention to join private-sector investors by contributing up to $30 million to the new fund. The contributions of these private-sector partners and the government could reach up to $45 million dedicated to cleantech seed-stage startups.

Ecofuel, né sous l’impulsion de Cycle Capital Management, entend collaborer avec ce nouveau fonds et jouer un rôle de premier plan pour augmenter son volet investissement, en plus de ses actions d’accélération déjà en place depuis maintenant près de deux ans.

An initiative of Cycle Capital Management, Ecofuel intends to collaborate for the creation of this new fund and play a major role to bonify its financing solution and continue using its acceleration program that has been in place for nearly two years. This will allow the new fund to use Ecofuel’s leadership in the development of innovative cleantech companies. The organizations’s unique business model offers tailored, specialized mentoring and support, as well as a financing solution for seed-stage startups.

Also, this new seed-stage fund completes the sector’s financing chain in Québec. It is also a solution to a recommendation by Écotech Québec which, based on its analysis of the Québec cleantech funding chain released on March 10, called for the creation of a seed fund to develop startups. Ecofuel, already positioned at the seed stage with its accelerator and its financing solution, will become a natural ally of this new fund and contribute together to the development of a green economy in Québec by supporting companies that are helping to improve our environment and fight climate change.

As a major cleantech innovation actor in Québec, Ecofuel also applause a Government measure significantly diminishing the fiscal burden of innovative corporations and encouraging manufacturing companies in commercializing products using patented technologies developed in Québec. Ecofuel also welcomes the government’s efforts to support research in cleantech, help for innovative companies in soil rehabilitation and support research on carbon capture, all with the objective to stimulate the development, implementation and use of different cleantechs,

Quotes

“It’s a big step for the entire cleantech sector. With this support from the Government of Québec, it is now possible to consolidate the financing chain for cleantech startups. This new seed-stage fund strengthens what was the weak link of the financing chain until today and Ecofuel intends to contribute significantly to it.”

• Richard Cloutier, President and CEO, Ecofuel Accelerator

“Since we first imagined it, we have always believed in the important role the Ecofuel Accelerator could play in Québec’s cleantech ecosystem. The results we have already obtained with the accelerated entrepreneurs show that there was a real need. I’m conviced Ecofuel will be a great ally for this new cleantech seed-stage fund.”

• Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital Management, and Chair of the Board, Ecofuel Accelerator

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 $75,000, Ecofuel offers its entrepreneurs an intensive program of training workshops, networking sessions, and an experienced mentor ecosystem. The objective of the program is to develop entrepreneurs and help in the successful creation of companies.

In addition to financial and logistical support from Cycle Capital, Ecofuel is also grateful for the support and collaboration from Écotech Quebec, Innovacorp and Sustainable Development Technology Canada (SDTC).

Ecofuel’s board of directors is proud to announce the nomination of Richard Cloutier as President and CEO of the cleantech startup accelerator.

“With his deep experience in the full spectrum of the tech transfer and commercialization process, we can think of no one better than Richard to lead Ecofuel and drive the cleantech accelerators among the most important in North America.”, said Andrée-Lise Méthot, Chairperson of the Board of Ecofuel.

“Since joining EcoFuel, Richard’s experience and expertise in driving innovation initiatives, tech transfer, start-up acceleration, international growth and financing has been invaluable for Ecofuel’s companies. A high tech leader and visionary we are proud to have Richard on board leading Ecofuel to become the “go to” accelerator for cleantech companies”, said Denis Leclerc, president and CEO of Ecotech Quebec and member of Ecofuel’s board of directors.

Richard Cloutier joined Ecofuel as strategic advisor this past july. Until recently, he was the President and CEO of the Centre québécois de valorisation des biotechnologies (CQVB) – an innovation and tech transfer organization involved in Biotechnologies, including sectors like Life Sciences, Industrial Bioproducts, AgriFood & Human Nutrition. Over the last 30 years, he has played a significant role in the Life Sciences sector, acting mainly as CEO of biotech companies and in organizations in the public sector, investment manager and research professional.

About Ecofuel

Ecofuel is an accelerator for startups that works with exceptional 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 Montreal for the duration of the program. The objective of the program is to develop entrepreneurs and help in the successful creation of companies. To apply, please submit your project online at ecofuelaccelerate.com.

In addition to the financial and logistical support from Cycle Capital, Ecofuel is also counting on the support and collaboration of Écotech Quebec, Innovatech, BDC and Sustainable Development Technology Canada (SDTC).

Information

Catherine Bérubé
Head of communications and public relations
cberube@cyclecapital.com
T : 514 495-1022 x 203
C : 514-629-1022

Website : ecofuelaccelerate.com

Twitter : @ecofuelaccelerate

Press release – Richard Cloutier nomination President and CEO

Ecofuel Accelerator is accepting applications for its next cohort. Early-stage cleantech companies have until Friday, November 20th 5:00PM to submit their application for cohort 3 that’s starting in January 2016.

“After a year, the accelerator model developed by Ecofuel is now supported by a wide network a partners in the cleantech ecosystem. Ecofuel is growing very fast and we want to reach and benefit a maximum of cleantech entrepreneurs!”, said Richard Cloutier, strategic advisor at Ecofuel Accelerator.

The four-month acceleration program is targeted for early-stage startups and offers a seed investment of up to $100,000. It involves an intensive program with training workshops, networking sessions and a heavy-hitting mentoring ecosystem. Participating companies will be hosted in a dedicated facility in Montreal.

A group of world-class and internationally experienced mentors and trainers have been recruited to support the development of the participants including: Simon Olivier, Vice President Growth, Market Strategy and Business Development at GE Canada; Jane Kearns, Senior Advisor, Cleantech at MaRS; Jean Lamarre, Managing Partner at Lamarre consultants; Alexandre Taillefer, Managing Partner at XPND Capital; and Tony Van Bommel, Senior Managing Partner, Industrial, Clean and Energy Technology Venture Fund at BDC Capital.

To apply, please submit your project online at ecofuelaccelerate.com.

About Ecofuel

Ecofuel is an accelerator for startups that works with exceptional 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 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, BDC and Sustainable Development Technology Canada (SDTC).

Information

Catherine Bérubé
Head of communications and public relations
cberube@cyclecapital.com
T : 514 495-1022 x 203
C : 514-629-1022

Website : ecofuelaccelerate.com

Twitter : @ecofuelaccelerate

Press release_Application C3

“SabrTech will soon start testing its algae-production product, the RiverBox, marking the beginning of the Halifax-based environmental technology company’s commercialization plan.”

— Sabine Wex, Entrevestor

Ecofuel’s board of directors is proud to announce the nomination of Richard Cloutier as strategic advisor to the cleantech startup accelerator.

“Richard acquired a strong experience in innovation, tech transfer, start-up management, international business transactions and financial strategies, in Canada and abroad. This expertise will be very profitable to the companies selected in the accelerator”, said Simon McDougall, CEO and Head Coach of Ecofuel.

“Ecofuel’s selected companies and the whole cleantech ecosystem will benefit from the experience Mr. Cloutier’s acquired in the high tech biotech cluster. His expertise in biotech is extremely valuable, especially to startups”, said Denis Leclerc, president and CEO of Ecotech Quebec and member of Ecofuel’s board of directors.

Until recently, Richard Cloutier was the President and CEO of the Centre québécois de valorisation des biotechnologies (CQVB) – an innovation and tech transfer organization involved in Biotechnologies, including sectors like Life Sciences, Industrial Bioproducts, AgriFood & Human Nutrition. Over the last 30 years, he has played a significant role in the Life Sciences sector, acting mainly as CEO of biotech companies and in organizations in the public sector, investment manager and research professional. He was the founder and CEO of Gelkem for near 10 years – a private biopharmaceutical company involved in drug delivery systems.

Mr. Cloutier graduated with a B.Sc in biochemistry from Sherbrooke University and a MBA from Laval University. His expertise is requested on different public and private boards and he was part of numerous international business missions and tech transfer projects mainly to promote Quebec’s Biotech innovations (China, India, Israel, France, United States and Germany).

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 support entrepreneurs and help in the successful creation and growth of companies.

In addition to the financial and administrative support from Cycle Capital, Ecofuel is also counting on the support and collaboration of Écotech Quebec, Innovacorp and Sustainable Development Technology Canada (SDTC).

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

Press release – Richard Cloutier nomination

“L’accélérateur Ecofuel, une sorte de FounderFuel pour les start-ups du secteur des technologies vertes, a tenu son premier Demo Day mardi soir. L’événement, qui s’est déroulé à l’Écomusée du fier monde, à Montréal, a permis aux quatre start-ups de la première cohorte de l’accélérateur de se présenter devant un public d’investisseurs.”

—Julien Brault, Les Affaires

“La première cohorte de l’accélérateur d’entreprises vertes Ecofuel passait à la prochaine étape mardi, à Montréal. Ce sont donc quatre jeunes entreprises sur une trentaine de postulants qui ont présenté leur plan d’affaires devant quelque 120 investisseurs potentiels, après trois mois intenses d’ateliers et de coaching. Coup d’oeil sur les projets proposés.”

— Jeff Yates, Journal Métro

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

Press release – Ecofuel Green Light Event