The Ecofuel Accelerator is dedicated to help grow clean technology start-ups. Ecofuel was launched by Cycle Capital Management, a Montreal based leader in cleantech venture capital to fill a gap in the financing ecosystem with the following goals:

  • Become a source of qualified deal flow for seed and venture capital investors
  • Enhance the quality of the projects and their success rate
  • Increase the deal flow from universities and research centers
  • Increase the number of clean technology start-ups

Our mission

Ecofuel is a start-up accelerator that works with exceptional entrepreneurs in clean technology to help build globally competitive companies. In addition to seed financing of up to $75,000, Ecofuel offers a personalized and specialized 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 and growth acceleration of companies.

Our platform

Ecofuel is a platform open to multiple investing partners across the investment community in clean technology. The program includes financing from Ecofuel’s investing partners in the form of a convertible loan, which is a standard in the industry.

Our goal

Our goal is to help entrepreneurs build a sustainable and profitable business plan in an environment stimulated by the other companies in the cohort, the mentors, and the broader clean technology ecosystem.

In short, Ecofuel prepares entrepreneurs to raise funding and to execute their business plan after they graduate from the program.

We are looking for determined, goal oriented teams that want to change the world through delivering clean technologies based on sound business models.

We are dedicated to providing everything it takes to see your start-up succeed.


The financing is done in the form of convertible notes (or debentures). A convertible note is basically a loan that is convertible into shares of a company. It offers a loan that, instead of being paid back with interest, can be turned into equity of a company at a financing event (e.g., next round after graduation). The capital plus the accrued interest of the note is then converted into the shares, based on the conversion agreement between the company and the investors.

For Ecofuel participants, the investment is a convertible note of up to $75,000 (based on the assessment in terms of capital required by the Selection Committee).

The advantages of such a financing structure are that it is more straightforward for participating companies (and saves on the negotiation time), it also avoids for many start-ups to having to negotiate a new shareholders’ agreement prior to closing the investment. Bottom line, it makes the deal close faster.

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