The Government of Quebec partners with the Ecofuel Accelerator
Montreal, December 17, 2017 – Ecofuel, a specialized and personalized accelerator dedicated to the cleantech companies, announced today, in the presence of the Minister of Energy and Natural Resources and the Minister responsible for the Northern Plan, Pierre Moreau, the Ecofuel Accelerator received a $5.5M financial support from the Government of Quebec. This partnership comes from the Green Fund and is managed by Transition énergétique Québec, which will also work closely with the Ecofuel Accelerator
“Cycle Capital created the Ecofuel Accelerator four years ago with the support of its collaborators and investors. As the president of the Board of directors, I want to thank them for their continued support to startups. Today, the Ecofuel Accelerator is a significant player in the development of cleantech companies. On behalf of the members of the Board, I also want to thank the Government of Quebec and Transition énergétique Québec for the funding announced today, as it will ensure the sustainability of the Ecofuel Accelerator and a lasting collaboration with the entrepreneurs,” said Andrée-Lise Méthot, President of the Board of directors of the Ecofuel Accelerator and Founder and Managing Partner of Cycle Capital Management.
“The Ecofuel Accelerator is now a key innovation player in the cleantech sector in Quebec and eastern Canada. Based on the progress of our alumnis, there’s a real need for a acceleration training program and the Ecofuel Accelerator already has a positive impact on the cleantech ecosystem,” said Richard Cloutier, President and CEO of the Ecofuel Accelerator and Managing Partner of the Ecofuel Fund.
Ecofuel also announced that two companies were selected in the Ecofuel Accelerator Autumn 2017 Cohort. With these current selected startups, since its inception in 2014, the Ecofuel Accelerator has supported 24 cleantech startups from Quebec, Ontario and the Maritimes.
Ecofuel is a venture capital fund and a specialized and personalized accelerator dedicated to cleantech companies. Ecofuel, powered by Cycle Capital, works with entrepreneurs to help build globally competitive companies. The Ecofuel Fund invests smart money in seed stage companies that develop and commercialize clean technologies while the Ecofuel Accelerator offers entrepreneurs training workshops, networking sessions and an experienced mentor ecosystem.
In addition to the funding provided by the Government of Quebec, the Ecofuel Accelerator, founded by Cycle Capital, benefits from the collaboration of Transition énergétique Québec, Innovacorp and Écotech Québec.