About Ecofuel Fund

Richard Cloutier

Managing Partner

Richard is Managing Partner of the Ecofuel Fund and President and CEO of the Ecofuel Accelerator, an early-stage cleantech company accelerator based in Montreal. He boasts more than 30 years of experience in innovation strategy deploying, start-ups launching, business and project development. Before joigning Ecofuel, he was CEO of the Centre québécois de valorisation des biotechnologies (CQVB), an organization dedicated to innovation and technology transfer in the bioindustry sector. Prior to that, he was the CEO of Gelkem, a biopharmaceutical private company specialized in therapeutic controlled-delivery.

Richard is a lecturer in business startups and innovation, with a specialization in innovative startups and technology transfer at Université Laval. He also sits on various boards, including Fonds de Recherche Québec Nature et Technologies and different private societies. Richard is frequently consulted for the elaboration of international trade strategies and has participated in a number of Quebec’s trade commercial missions overseas.

Richard holds a Bachelor of Biochemistry from the Université de Sherbrooke and a MBA from the Université Laval.
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Johanne Sévigny

Managing Partner

Johanne is Managing partner of the Ecofuel Fund and Vice President, Startups of the Ecofuel Accelerator. She boasts 15 years of experience in VC, financing and management of a cleantech startup and 10 years of operational experience in engineering totaling 25 years of various business experiences.

Before joining Ecofuel in 2016, Johanne was a senior director at BDC. She also worked at Negotium, a technology solutions provider, as the head of finance and M&A. Johanne was a portfolio manager at Entrepia Capital, Innovatech Montreal and Multiple Capital founded in 2005 to manage the portfolio of Innovatech Montreal, an early stage venture capital fund based in Montreal. Johanne sat on the board of several technology-based companies. Her experience also includes serving as the president of the Board of a fast growing RFID gaming start-up for two years.
Earlier in her career, she held project management positions for ten years at SNC Lavalin and Dessau-Soprin.

Johanne holds a Bachelor’s degree in Engineering from the École Polytechnique de Montréal and an MBA from HEC Montréal.
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Serge Lavergne

Venture Partner

Serge is Venture Partner at the Ecofuel Fund. He has thirty years of experience, including as an engineer in the fields of metallurgy, incineration and waste management, to then go on to manage major engineering-construction and transportation companies, then finally orientates his career in the financing and management of companies.

Prior to joining Ecofuel, Serge was Vice-President, Investments at the Innovexport Fund and was active in Anges Québec as an investor. Serge has served on the boards of several technology and manufacturing/construction companies. Previously, Serge had been General Manager of Tetratech Industries, Vice President, International at Genivar (now WSP), CEO of Petro-Nav Shipping Company and Vice President, Industry and Construction at Tecsult.

Serge holds a bachelor’s degree in Chemical Engineering from the Université de Sherbrooke, a master’s degree in Environmental Science from the Université de Sherbrooke and a Certified Corporate Administrator certification from the College of Corporate Directors of the Laval University.
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Natalya Novikov

Partner and CFO

Natalya joined the Cycle Capital team in 2013 and is responsible for accounting, production and disclosure of financial information and administrative procedures. In addition, she lectures levels I, II and III of the CFA curriculum.

Natalya began her career with the Canada Revenue Agency in 2007. Then, for over five years, Natalya worked at Statistics Canada, where she successively held the positions of Census Consultant / Marketing Officer, Account Executive and Analyst in the Business Outreach Program. In 2011, she joined MNP, an accounting firm where she gained experience in audit and business valuation.

Member of the Ordre des Comptables professionnels agréés du Québec since 2013 (CPA auditor, CA), Natalya received a BA in Finance from Concordia University and a Graduate Diploma in Accounting from McGill University. She also holds the Chartered Financial Analyst designation (CFA) and is a Certified Public Accountant (CPA, New Hampshire).
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Jonathan Martel-Gagnon


With five years of experience in project management, energy procurement and financial analysis, Jonathan Martel-Gagnon acts as the financial and risk analyst at the Ecofuel Fund. Debuting at EnGlobe corp. he managed and supervised several remediation projects in the Canadian arctic and United Kingdom. He also managed energy procurement for Resolute Forest Product’s Quebec mills while serving as analyst for innovations and strategic projects.

Throughout his studies, he was awarded several awards for excellence in design. He has also won several engineering competitions and case competitions in Canada and in the United States.

Jonathan holds a Bachelor’s degree in Bioresource Engineering from McGill University and a Master’s degree in business and administration (MBA) from INSEAD, where he was a speaker for the INSEAD Sustainability Executive Roundtables.
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Catherine Bérubé

Vice President, Sustainability, Investor Relations and Public Affairs

Catherine is in charge of sustainability, investor relations and public affairs at Ecofuel and Cycle Capital Management (CCM). Her main duties are the promotion of Ecofuel and CCM, including portfolio companies. Before Ecofuel and CCM, she worked as a journalist within various media outlets. She then pursued her career as press secretary for a municipal political cabinet.

Catherine sits on the Board of Écotech Québec, Quebec’s cleantech cluster and SWITCH, the Alliance for a green economy, and was a member of the Board of the Young Leaders’ Circle of the International Economic Forum of the Americas.

She holds a Bachelor’s degree in Journalism from Université du Québec à Montréal and a Master’s degree in Public Communication from Université Laval, for which she also completed an exchange at École supérieure de journalisme de Lille in France. During her studies, she had work experience in several media organizations, such as Radio-Canada, BBC, France 2 and RTBF. She is recipient of a grant from the International Research Development Center (IRDC) in international development.
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Catherine Bédard

Financial Analyst

Catherine Bédard is financial analyst at Ecofuel Fund. She has 10 years of experience as a Commercial and Risk Professional in the mining industry for SNC-Lavalin where she was involved in major international projects at the business development level. Prior to completing an MBA, she also worked for more than 5 years as an environmental and geotechnical engineer for SNC-Lavalin, HDS Environment and Genivar (now WSP).

Catherine is also involved in the community with volunteer work for Women in Mining Montreal and Les Grands Ballets Canadiens.

Catherine holds a bachelor’s and a master’s degree in Mining Engineering from École Polytechnique de Montréal and an MBA from HEC Montréal.