BDC, the bank for Canadian entrepreneurs, has launched its new $400 million Climate Tech Fund II, a renewed
commitment to play a leadership role in creating world-class Canadian cleantech champions, it said.
This brings the Fund’s committed investments in the innovative cleantech/climate tech sector to $1 billion.
“BDC will play a leading role in helping Canadian climate tech firms dream bigger and become global technology champions. Here at home, BDC will enable the scale up and deployment of low carbon technologies which are so fundamental to Canada’s ability to meet its GHG emissions reduction targets,” said Isabelle Hudon, BDC’s President and
Chief Executive Officer.
“This new Climate Tech Fund reflects BDC’s ambition to help build a clean, low carbon, circular economy.”
BDC launched the Cleantech Practice’s $600 million Fund I in 2018 to address the lack of risk capital for the commercialization and scale up of Canada’s cleantech and climate tech industry.
“BDC’s Cleantech Practice is one of the largest, most active investors of its kind in Canada. Our investment strategy is not about market trends but GHG emissions reduction,” said Jérôme Nycz, Executive Vice President, BDC Capital.
“BDC’s Climate Tech Fund II will reinforce the importance of low carbon supply chains, help the commercialization, scaling and adoption of Canadian technologies in Canada and abroad and create opportunities for climate tech firms.”
The Cleantech Practice has a portfolio of 50 companies.
(Mario Toneguzzi is a veteran of the media industry for more than 40 years and named in 2021 a Top Ten Business Journalist in the world and only Canadian)
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