MONTRÉAL, April 6, 2016 /CNW Telbec/ - Caisse de dépôt et placement du Québec (CDPQ), together with Investissement Québec, has announced a $12.8-million investment in AddÉnergie, a Québec manufacturer of smart charging solutions for electric vehicles. As part of this transaction, Caisse de dépôt et placement du Québec will invest $8.5 million, and Investissement Québec $4.3 million, enabling AddÉnergie to extend its network and technology across Canada.
The company already supplies charging stations, software and management services to the Electric Circuit and the VERnetwork, the two largest electric vehicle charging station networks in Canada. While AddÉnergie currently operates close to 2,000 charging stations, this transaction will reinforce its deployment plan, aimed at adding 8,000 new charging stations across Canada in the next five years.
"We are very pleased to be receiving funding from these major institutional investors; their backing confirms our leadership in the industry and provides us with the financial means to pursue our growth objectives," stated Louis Tremblay, President and Chief Executive Officer of AddÉnergie. "We are privileged to be making a tangible contribution to the future of transportation, not only in Québec but across the country. It is through the commitment of partners such as la Caisse and Investissement Québec, who encourage innovation, that we are able to fully develop and realize our vision. This in turn has a direct impact on our means of transportation, and, on a broader scale, our relationship with the environment and our sources of energy."
"This investment is perfectly aligned with la Caisse's strategy to strengthen innovation in Québec and facilitate expansion in new markets," said Christian Dubé, Executive Vice-President, Québec at la Caisse. "To further the growth of this green energy leader, la Caisse has also worked with the company at key stages of its development through funds and its subsidiary Ivanhoé Cambridge." In 2012, la Caisse's real estate subsidiary promoted the integration of AddÉnergie charging stations by installing them at the shopping centres it owned in Québec.
"Our investment aims to further the development of leading-edge Québec expertise in a sector vital to our future. Alongside AddÉnergie, Investissement Québec is supporting a growth opportunity for Québec's hybrid and electric vehicle industry, which is poised to generate positive and sustainable economic benefits for all of Québec," concluded Pierre Gabriel Côté, President and Chief Executive Officer of Investissement Québec.
Founded in Québec City in 2009, AddÉnergie has become the leader in innovative charging solutions. Supplier and operator of the Electric Circuit and the VERnetwork™, the two largest charging station networks in Canada, the company now has more than 50 employees, who work out of its head office in Québec City, Québec, its production plant in Shawinigan, Québec, and its sales office in Mississauga, Ontario.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held $248.0 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
ABOUT INVESTISSEMENT QUÉBEC
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
SOURCE Caisse de dépôt et placement du Québec
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