The Government of Quebec, through Investissement Québec, acts as the main investor.
According to the two companies, the Cycle H2O Fund responds to the growing need for solutions in the commercialization phase.
Among the water technologies cited in the new fund announcement are sustainable agriculture, green chemistry and water treatment, digital water technologies, and industrial and water conservation processes.
The President and CEO of H2O Innovation, Frédéric Dugré, emphasized that the absence of specialized investment platforms in the water sector in Canada had given the company born in 2000 a hard time, and that he wanted to share his experience with new “water entrepreneurs”.
The firm Boann Social Impact, the Greater Montreal Climate Fund, The Atmospheric Fund and a number of family offices and private investors are also sponsors of the fund, it was indicated Wednesday in a press release.
The Minister of Economy, Innovation and Energy, Pierre Fitzgibbon, affirmed that the Quebec government was seeking to promote “innovative solutions for the intelligent use of Quebec’s water.”
“Cycle Capital’s experience in the climate technology sector has demonstrated to us the transformative power of specialized venture capital funds to address some of the most pressing environmental challenges,” argued Andrée-Lise Méthot, founder and managing partner of the investment company Cycle Capital.
