Power and Utilities
CDPQ, Investissement Québec and Energy Impact Partners backed FLO secured a $60 million revolving credit facility from National Bank of Canada's Technology and Innovation Banking Group.
Marc-Andre Forget and Dan Fletcher led dcbel secured US $50M+ Series B funding led by Idealist Capital with participation of Coatue, Volvo Cars, Kevin Mahaffey, Real Ventures and Investissement Québec. Pierre Larochelle of Idealist Capital will join dcbel board.
General Fusion raised US $25M in combined 1st close of Series F led by BDC Capital and GIC and grants from Government of British Columbia and Canadian Government's Strategic Innovation Fund (SIF)
TransAlta Corporation to re-acquire TransAlta Renewables Inc. for $3.47B or $1.38B to minority shareholders.
Peak Power secured US $35M new funding led by Greenbacker Capital Management with participation of Osmington Inc., BDC Capital, Export Development Corporation (EDC), Hatch, Sensata Technologies, and The Atmospheric Fund.
SK Group's SK ecoplant invested US $50M to acquire a 20% stake in the first phase of World Energy GH2's Nujio'qonik project which aims to be Canada's first commercial green hydrogen/ammonia producer created from 3+ Gigawatts of wind energy.
DIF Capital Partners acquired 75% interest directly in Diverso Energy Inc. from founders, Jonathan Mesquita, Sergio Almeida, and Tim Weber, who will retain the remaining ownership and continue to lead the company.
NCP Capital Partners through newly formedNCP Electrical Power LP, with support of Fondaction, acquired a majority stake in WR Transformers Inc. from Christian Roberge who continues to lead the company and as a shareholder.
BrainBox AI secured US $20M in new funding led by Investissement Québec along with ABB, entered into agreement to acquire ABB’s multi-site retail (MSR) energy management system integrator business.
Power Sustainable Capital's Potentia Renewables Inc. and Fengate, NGEN Partners, SAM Private Equity backed Greengate Power Corporation closed $250M project financing for Paintearth Wind Project LP which is 75/25 owned by Potentia and Greengate respectively.
Zak Lefevre and Ehsan Mokhtari founded ChargeLab secured US $15M in Series A add-on from Silver Comet Energy and Eaton, and US $5M in venture debt from Silicon Valley Bank (SVB), bringing total funding of King River Capital led Series A to US $30M.
Following IPO withdrawal, Redaptive, Inc. raised US $200M from CPP Investments. Existing investors Linse Capital and CBRE will also participate in the investment.
UgoWork secured $22.8M Series B led by Fonds de solidarité FTQ, with participation from Export Development Canada (EDC), and Desjardins Capital and Investissement Québec.
Eavor Technologies Inc. secured strategic investment from Chubu Electric Power Co., Inc. (TSE: 9502) in support the commercialization of Eavor-Loop™ technology.
Caisse de dépôt et placement du Québec (CDPQ) invested ¥20B or US $135M in Shizen Energy Inc., a renewable energy leader in Japan. CDPQ obtained a seat on the board of directors of Shizen Energy.
Anzu Partners backed e-Zinc closed US $7 million venture debt facility with Silicon Valley Bank (SVB) to expand manufacturing operations at its new facility in Mississauga, Ontario.
Brookfield Renewable Partners and institutional partners, and Cameco Corporation, to acquire Westinghouse Electric Company from Brookfield Business Partners and institutional partners for enterprise value of US $8B.