The Ecofuel Accelerator Announces its Autumn 2016 Cohort
Five cleantech businesses will experience a tailored acceleration
Montreal, September 28 2016 – The Ecofuel Accelerator, the leader for the cleantech entrepreneurs, announces the five businesses of its Autumn 2016 Cohort. These five companies selected among 30 applicants compose the fourth cohort of the Ecofuel Accelerator.
Entrepreneurs from AEPONYX, ARDA Power, BioMatrix, Electrobac and Jaza Energy will experience a mentoring program tailored to their needs in the next four months, which was already a success factor for many companies accelerated before. They will be advised and taken care of by about forty mentors who are a reference in cleantech, business, global markets and entrepreneurship.
- AEPONYX is the leader in micro optical switch chips design and marketing for greener fiber optic access to the cloud.
- ARDA Power is an emerging Canadian cleantech company that uses its patent pending DC-DC converter and DC microgrid control technologies to deliver the first fully plug-and-play system for microgrids using renewable energy.
- BioMatrix is actively commercializing NaquaPureTM, their first nanotechnology product that effectively removes heavy metals from contaminated industrial waste-water.
- Électrobac, known for its smart bin network, is an e-waste collection company specialized in small electronics. The company also has a corporate buy back program for used cellphones.
- Jaza Energy electrifies last mile communities using centralized solar energy hubs.
The Ecofuel Accelerator continues to innovate and now offers the Ecofuel Initiation Program, aimed at young cleantech companies that just began their operations. Five startups will participate to the program before a future acceleration.
“The number, quality and diversity of applications we received during the selection process demonstrates the entrepreneurs needs for the acceleration stage, says Richard Cloutier, President and Chief Executive Officer of the Ecofuel Accelerator. We are particularly proud of the five 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 five 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 fourth cohort will end in December 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, Sustainable Development Technology Canada (SDTC), Innovacorp and the New Brunswick Innovation Foundation.
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 North America. Cycle Capital, based in Montreal with an office in Toronto and presence in New York and Seattle, regroups seasoned 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. For more information on Cycle Capital visit: cyclecapital.com.
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