Ecofuel Accelerator

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 startup accelerator that works with exceptional entrepreneurs in clean technology to help build companies that will become competitive on a global basis. In addition to an investment of up to $75,000, Ecofuel offers to its entrepreneurs a personalized and specialized training program of workshops, networking and mentoring meetings, with the objective of developing entrepreneurship and help build and scale technology-based 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 convertible loan, a investment vehicle frequently used in the industry for this type of investment.

Down payment from the Ecofuel Fund
up to $ 75,000


Ecofuel Accelerator Training Workshop, Networking and Mentoring Program


Jobs created
and maintained




Raised by
17 companies



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 the entrepreneur to refine his business plan and to raise the required financing to execute it.

We are looking for determined, goal oriented teams that want to change the world through delivering clean technologies based on sound economic 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 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 having to negotiate a new shareholders’ agreement prior to closing the investment. Bottom line, it makes the deal close faster.