CPE Media News (2/19/2019) – BDC Capital has announced an $8 million investment in Equispheres, an Ottawa based advanced materials firm. The investment is part of BDC Capital’s 700 million, five-year cleantech initiative mandated by the government of Canada.
The investment will allow Equispheres to execute on its growth plan and secure contracts for its pioneering metal powders, which reduce fuel consumption and manufacturing waste.
Equispheres has developed a novel technology to affordably manufacture ultra-homogeneous metal powders with properties ideal for use in additive manufacturing applications.
Backed by private investors, Equispheres has also previously received US $5 million in 2018 from Lockheed Martin (NYSE: LMT) under the Industrial Regional Benefits (IRB) and Industrial Technological Benefits (ITB) Policy.Lockheed Martin’s investment is in direct support of the ITB obligations associated with Canada’s purchase of 17 CC-130J Super Hercules aircraft, which were delivered to the Royal Canadian Air Force in 2010.
photo credit: Equispheres
News Release
BDC to invest $8-million in Kanata-based Equispheres Français
Investment is part of BDC’s commitment to building globally competitive cleantech firms
MONTRÉAL, Feb. 19, 2019 /CNW Telbec/ – BDC, Canada’s only bank devoted exclusively to entrepreneurs, is pleased to announce an $8-million investment in Kanata-based advanced materials firm Equispheres. The investment is part of BDC’s 700-million, five-year commitment announced last January to help high-potential Canadian cleantech firms with market-ready technology or products meet the capital-intensive needs of scaling and achieving timely growth.
The investment will allow Equispheres to execute on its growth plan and secure contracts for its pioneering metal powders, which reduce fuel consumption and manufacturing waste.
“We are excited to receive the $8 million investment from BDC’s Cleantech practice,” says Kevin G. Nicholds, President, CEO and Executive Director of Equispheres. “We have tremendous demand from global leaders in the aerospace and automotive sectors for our uniquely consistent metal powder as a means to make lighter, stronger parts. The BDC investment will help us scale up to meet this demand and provide the benefits of our product to these rapidly growing markets.”
Equispheres has developed a novel technology to affordably manufacture ultra-homogeneous metal powders with properties ideal for use in additive manufacturing applications. The powders perform reliably and consistently and provide designers the statistical confidence needed to avoid over-engineering components. This permits the production of lighter, stronger parts to improve fuel economy and minimize greenhouse gas emissions.
“This investment in Equispheres is part of BDC’s long history of supporting innovative Canadian cleantech firms to scale as world leaders,” says Susan Rohac, Vice President, Cleantech Practice at BDC. “Equispheres has an aggressive growth vision and is singularly positioned to scale in a rapidly expanding industry due to its novel, unrivalled product, strong management team and technical know-how.”
BDC has expanded its typical investment parameters to include firms at the early stages of commercialization that are developing potentially breakthrough clean technologies. The Bank will also offer advisory services to portfolio companies to help them address challenges beyond financing, such as growth plans, productivity and talent issues.
For more information about BDC’s cleantech initiatives and selection criteria, visit bdc.ca/cleantech.
About BDC
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.
SOURCE Business Development Bank of Canada
For further information: Joanne Lajeunesse, Public Affairs, BDC, mediainfo@bdc.ca, 1-844-625-8321