MKB, Fonds de solidarité FTQ, BDC and EDC invest in EV charging network operator AddEnergie
MKB, Fonds de solidarité FTQ, BDC and EDC
invest in EV charging network operator AddEnergie
Montréal, October 30, 2020 – MacKinnon, Bennett & Company (“MKB”) has led a syndicate including Fonds de solidarité FTQ (the “Fonds”), the Business Development Bank of Canada (“BDC”) and Export Development Canada (“EDC”) for a Series C financing in AddEnergie Technologies inc., a leading North American charging network operator for electric vehicles and a major provider of smart charging software and equipment. The financing will total $53 million, with syndicate members joined by long-time supporters and returning investors including Caisse de dépôt et placement du Québec and Investissement Québec. It will enable the company to accelerate its growth strategy and the expansion of FLO®, its North American electric vehicle (EV) charging network.
“MKB is thrilled to have led this new investment round in AddEnergie and to support its exceptional management team. AddEnergie’s mission and strategy is at the nexus of the decarbonization, electrification and digitization of transportation. The company has a proven track record in key markets, a competitive value proposition and is well positioned for the next phase of its ambitious growth plan,” said Antonio Occhionero, Partner, MKB.
“With its electric vehicle charging solutions, AddEnergie is accelerating the energy transition, reducing greenhouse gas emissions and creating high quality jobs. This combination is essential in ensuring that workers have a part in the global efforts to combat climate change,” added Christian G. Brosseau, Vice-President for Investments, Strategic Capital, Energy and Environment, Fonds de solidarité FTQ.
“BDC’s Cleantech Practice accompanies entrepreneurs focused on the development and commercialization of clean technology to improve performance and reduce energy consumption, waste or greenhouse gas (GHG) emissions. BDC is proud to support AddEnergie; the FLO® network and the company’s highly reliable EV charging hardware has put the company in an enviable market position to lead the fight against climate change by powering the shift to electric mobility across North America,” continued Benoit Forcier, Director Cleantech Practice, BDC.
“In partnership with institutional investors, EDC’s investment Matching Program enables Canadian companies to execute on their international growth plans,” said Carl Burlock, Executive Vice-President and Chief Business Officer at EDC. “We are pleased to provide capital to support AddÉnergie as it further develops its unique charging station technology, making the transportation industry more sustainable.”
MKB is a Montreal-based private investment firm that specializes in providing growth equity to the next generation energy and transportation sectors. MKB takes significant minority positions in its portfolio companies and proactively assists management teams in reaching their full potential. To learn more about MKB, visit www.mkbandco.com.
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With net assets of $13.8 billion as at May 31, 2020, the Fonds supports 221,267 jobs. The Fonds has 3,329 partner companies and 707,935 shareholders-savers. To find out more, visit www.fondsftq.com.
BDC is the bank for Canadian entrepreneurs. It provides access to financing, as well as advisory services to help Canadian businesses grow and succeed. Its investment arm, BDC Capital, offers a wide range of risk capital solutions. For more than 75 years, BDC’s only purpose has been to support entrepreneurs in all industries and at all stages of growth. For more information and to consult more than 1,000 free tools, articles and entrepreneurs’ stories, visit bdc.ca.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.