Aquatech BM secures $2M funding

CPE News

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CPE News (1.16.1024) – Aquatech BM has raised $1.7 million in funding led by Fondaction with participation of Investissement Québec and $300,000 in repayable contribution from Canada Economic Development for Quebec Regions (CED).

Founded in 2007 by Gilles Fournier, now led by Félix Bégin and Michel Déziel, Aquatech BM is a manufacturer of multifunctional industrial bottle washers.

Since 2007, Aquatech BM has been helping companies in over 80 countries around the world to implement container recovery and disinfection systems. The funding announced will enable the company to pursue its commitment to sustainable development and the circular economy.

photo credit: Aquatech BM

News Release

Aquatech BM: $1.7M for the circular economy

MONTREAL, Jan. 16, 2024 /CNW/ – Aquatech BM, a Quebec-based manufacturer of multifunctional industrial bottle washers, is pleased to announce a total investment of $1.7 million, thanks to the support of Fondaction, the collaboration of Investissement Québec and a $300,000 repayable contribution from Canada Economic Development for Quebec Regions (CED). Since 2007, Aquatech BM has been helping companies in over 80 countries around the world to implement container recovery and disinfection systems. The funding announced will enable the company to pursue its commitment to sustainable development and the circular economy.

In the company of the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED, Christopher Skeete, Minister for the Economy, Minister responsible for the Fight against Racism and Minister responsible for the Laval region, Pierre Graff, President of the Regroupement des jeunes chambres de commerce du Québec (RJCCQ), Sébastien Mondou of Investissement Québec and Tori Hellrung of Fondaction, the company today unveiled its latest product, the compact multifunction bottle washer. This innovation will accommodate businesses with more modest washing capacities, or with space constraints to accommodate a standard bottle washer. It will also promote the use of reusable containers among SMEs, in a context of reform and expansion of the deposit system.

In collaboration with the Regroupement des jeunes chambres de commerce du Québec (RJCCQ), the event was also an opportunity to highlight the dynamism of the new generation of Quebec entrepreneurs.

Working in several sectors, including the brewing, wine, food, hospitality, dairy, pharmaceutical and research laboratory industries, Aquatech BM aims in the short term to develop green partnerships with certain sectors of Quebec industry impacted by the reform and expansion of the deposit system, such as microbreweries, and to pursue its international expansion.

Quotes

“We have excellent growth opportunities in Quebec, Canada and around the world because environmental considerations and the circular economy concept are becoming increasingly popular in the business community. This is great news for our company and for the green economy of tomorrow. – Félix Bégin, President, Aquatech BM

“The climate crisis remains one of the biggest challenges of our time. With this in mind, our government is encouraging local businesses to develop more environmentally friendly processes and products, while enhancing their competitive advantages and future prospects. This is the case today with the announcement of CED funding for Aquatech Leasing and Management Inc. This financial contribution will not only help increase the business’s competitiveness but will also support Aquatech-BM’s expansion. I am proud that our government is assisting an SME that takes the reduction of the ecological footprint of its products to heart. Congratulations!” – The Honourable Soraya Martinez Ferrada, Member of Parliament for Hochelaga, Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions

“Aquatech BM is increasingly establishing itself, in Quebec and elsewhere in the world, as a leader in container recovery and sterilization. We continue to support companies that, like Aquatech BM, are making significant advances in the circular economy.” – Christopher Skeete, Minister for the Economy, Minister responsible for the Fight against Racism and Minister responsible for the Laval region

“Financing companies that invest to improve their productivity is one of our priorities at Investissement Québec. Aquatech BM strives to optimize its processes and advocates continuous improvement, and this project is in line with that logic, as it will enable the acquisition of equipment and the implementation of a new production line. We are proud to support the growth of this company, which provides solutions for sound water management in a circular economy” – Guy LeBlanc, CEO, Investissement Québec

“Optimum water management is a global issue: Aquatech BM supplies durable, eco-responsible machines whose performance saves water, time and energy. In this way, we act on several levels, with the washing and reuse of containers constituting the alternative par excellence to the proliferation of single-use plastics.” – Claire Bisson, Associate Director, Impact and Sustainable Investments, Fondaction

“Entrepreneurship is a fantastic opportunity to innovate and grow. This is illustrated by the success of the Aquatech BM takeover. Félix Bégin knew how to surround himself with the right people to bring about a successful change in the company’s management and continue its development. We are proud to see the political and economic ecosystem come together to support the next generation of entrepreneurs. – Pierre Graff, CEO, Regroupement des jeunes chambres de commerce du Québec (RJCCQ)

About Aquatech BM

Founded in 2007 by Gilles Fournier, Aquatech BM is a Quebec company based on Montreal’s South Shore. Its expertise lies in the design and manufacture of commercial and industrial sterilizers and bottle washers. Its constantly evolving technology helps to combat the programmed obsolescence of equipment. Since Félix Bégin took over the company in 2019, Aquatech BM has tripled its worldwide sales volume. aquatech-bm.com/

In 2022, Aquatech BM won the jury’s Coup de Coeur award at the MercadOr Québec export gala. In 2023, the company was named a finalist in the prestigious Prix Excellence entrepreneurial competition of the South Shore Chamber of Commerce and Industry, in the Sustainable Development category. In 2020, the company also won an award for business succession and transfer at the Gala Dominique-Rollin.

About Fondaction

A pioneer for more than 25 years, Fondaction is the investment fund for those committed to the positive transformation of the Quebec economy. As a labour-sponsored fund, Fondaction represents tens of thousands of investors and hundreds of companies committed to moving Quebec forward. It manages net assets totalling over $3.34 billion, invested in hundreds of companies and financial markets, with a focus on investments that generate positive economic, social and environmental impacts in addition to financial returns. Fondaction helps maintain and create jobs, reduce inequalities and combat climate change. For more information, visit fondaction.com or Fondaction’s LinkedIn page.

About the RJCCQ

For 31 years, the Regroupement des jeunes chambres de commerce du Québec has federated and supported a network of some 40 young chambers of commerce and youth wings across Quebec, representing over 10,000 young professionals, executives, self-employed workers and entrepreneurs aged 18 to 40. In addition to its broad geographic scope, it includes 12 organizations from cultural communities. For more information, visit our website: rjccq.com.

SOURCE Aquatech BM

For further information: Geneviève Bordeleau, Ryan Public Affairs and Communication, (514) 318-2737, genevieve@ryanap.com; Gaudérique Traub, Regroupement des jeunes chambres de commerce du Québec (RJCCQ), 438-798-3125, communication@rjccq.com