Cycle Capital Management conducts first closing of Cycle Capital Fund I, L.P.



    MONTREAL, June 2 /CNW Telbec/ - Cycle Capital Management (CCM) Inc. has
raised $80 million in completing the first closing of Cycle Capital Fund I,
L.P., an investment fund devoted to the clean technology and renewable-energy
sector.
    This threshold was reached thanks to the involvement of several partners,
including the Government of Québec (through Investissement Québec), the Fonds
de solidarité FTQ, Fondaction, the Caisse de dépôt et de placement du Québec,
Brookfield Renewable Power Inc., Cascades Inc., the Fonds d'action québécois
pour le développement durable (FAQDD) and the Centrale des syndicats du Québec
(CSQ).
    Montréal-based CCM will continue to raise capital over the coming months.
    "We are proud to have reached this first stage toward our goal, even in
tough economic times," says Andrée-Lise Méthot, founder and Senior Partner of
Cycle Capital Management. "We are especially proud that this closing was
conducted in partnership with the Québec government, major institutional
investors and respected industrial groups such as Brookfield Renewable Power
and Cascades."
    In addition to their financial commitments, Brookfield Renewable Energy
and Cascades, as industrial partners of Cycle Capital Management, have agreed
to provide technical support in validating technologies as well as business
development support for companies that own clean technologies to help them
move toward applications with huge potential markets. Richard Legault,
President and Chief Executive Officer of Brookfield Renewable Power, says he
is pleased to be associated with the Cycle Capital Fund, adding: "By
supporting leaders in tomorrow's clean technologies, we are helping meet
future energy needs and spurring economic growth while promoting high-quality
jobs and preserving our environment."
    Key manufacturing industries are at a turning point and must alter their
production and consumption habits. Investments in innovative projects will
play a major role in building companies of international scope that can thrive
in a fast emerging technology market. "Providing financial support to these
clean-technology companies will help them export their know-how and command a
place among leaders in the carbon-free new economy," says Alain Lemaire,
President and Chief Executive Officer of Cascades.
    Cycle Capital Management has already invested in six Québec companies and
remains on the lookout for any investment opportunity on markets in Québec,
Canada and the entire northeast of the continent.

    Investing in clean technologies and renewable forms of energy

    Cycle Capital Fund I, L.P.'s mission is to invest in companies that
develop and market clean technologies and renewable-energy projects, helping
cut greenhouse gases, optimize resources and reduce impacts throughout their
entire life cycles.
    Up to now, the Fund has invested more than $13 million in six companies,
including:

    SiXtron Advanced Materials Inc., based in Montréal, develops and markets
an innovative process for placing thin silicon carbide (SiC) layers on various
supports applied in the solar energy field.
    www.sixtron.com

    Vaperma Inc., based in Saint-Romuald, designs, develops, produces and
markets innovative gas separation solutions that can be used for fuel-grade
ethanol production, natural gas production, biogas treatment and chemical
compound dehydration.
    www.vaperma.com

    About Cycle Capital Management

    Cycle Capital Management (CCM) Inc. is a private fund manager that
focuses its investments on companies developing and marketing clean
technologies and renewable-energy projects that can benefit from opportunities
created by the emergence of a low-carbon economy in North America.

    About Brookfield Renewable Energy Inc.

    Brookfield Renewable Power Inc., wholly owned by Brookfield Asset
Management Inc., has more than 100 years of experience as an owner, operator
and developer of hydroelectric power facilities. Its total portfolio includes
more than 165 generating facilities with approximately 4,100 megawatts of
capacity. It also has a significant hydroelectric and wind project pipeline.
Brookfield Renewable Power's operations are primarily located in North America
and Brazil.

    About Cascades Inc.

    Founded in 1964, Cascades produces, converts and markets packaging and
tissue products composed mainly of recycled fibres. Cascades employs close to
13,000 women and men working in more than 100 modern and flexible production
units located in North America and Europe. Its management philosophy, its 45
years of experience in recycling and its continuing efforts in research and
development are strengths that enable the company to create new products for
its customers. Cascades shares trade on the Toronto Stock Exchange under the
ticker symbol CAS.




For further information:

For further information: Isabelle Perras, (514) 282-4630,
isabelle.perras@cossette.com; Source: Cycle Capital Management;
www.cyclecapital.com

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