Odotech raises $4 million from Oddo Asset Management (Paris), FondACTION
(Montreal) and FIER Innovation Durable (Sherbrooke) to accelerate its
marketing of Odowatch, a fully automated odour monitoring system using
MONTREAL, Feb. 12 /CNW Telbec/ - Odotech specializes in the measurement
and control of environmental odours. According to its President, Thierry Pagé,
"over seventy percent of air quality complaints are related to odours and
Odowatch is the only existing solution for real time odour monitoring on
industrial sites". With this transatlantic financial partnership, Odotech
strengthens its European market presence and continues to improve its
technologically advanced solutions.
Two new Cleantech funds participated in this financing, joining
Fondaction, a previous investor in Odotech. FIER Innovation Durable brings
20 years of entrepreneurial experience in environmental sectors while Oddo,
also a specialist in eco-innovation, will be instrumental in the company's
development in the European market.
Odotech has been providing services and technologies that solve odor
problems since 1998. In addition to OdoWatch, the company produces high-end
olfactometers as well as software for modelling the atmospheric dispersion of
contaminants. In more than a dozen countries, Odotech's technologies
complement its service offering to hundreds of industrial clients operating
waste water treatment plants, landfill and composting sites and other
odour-producing facilities. At the other end of the odour spectrum,
manufacturers of aromas, perfumes and other scented products use Odotech's
expertise for their quality control needs.
Contact: Mr. Bertrand de Petigny, Communications, Odotech Inc.,
3333 Queen Mary, suite 301, Montréal (Québec) H3V 1A2.
Tel: (514) 340-5250 - Fax: (514) 340-5211 www.odotech.com.
About the Oddo Group
Oddo et Cie is one of the foremost private banks in France, with a staff
of 777 and 20 billion euros in assets under management at the end of September
2007, shareholders' equity being 283 million euros, with shareholding split
between the Oddo family (42%), the staff (30%), AGF (20%) and others (8%).
For more than a century, Oddo et Cie has developed around five business
lines: private banking, fund management, trading, corporate finance, metals
trading and account management-custody for private clients and institutions.
Oddo Asset Management, a wholly-owned subsidiary of Oddo et Cie, manages
14 billion euros sourced from private and institutional clients. Thanks to its
management team of 39 managers and analysts, Oddo AM offers a broad spectrum
of over 70 open funds. Oddo AM is a leader in France among independent and
specialized family finance companies. In 2006 it created a Private Equity
activity that manages 80 million euros in funds devoted to eco-innovation.
Contact: M. Mathieu Le Roux, 12 boulevard de la Madeleine -
75440 PARIS Cedex 09 Tel : 33(0)1 44 51 81 85 - Fax : 33(0)1 44 51 86 17
FondACTION, the cooperation and development fund of the CSN Union,
invests venture capital in order to maintain and create jobs in Quebec. Its
net assets, which stood at $554 milllion as at November 30, 2007, are derived
from retirement savings collected from over 77,000 shareholders. It is the
financial partner of a hundred enterprises and specialized funds. It favours
firms that subscribe to a participatory management process, social-economy
firms (employee-controlled, cooperatives, etc.) and those that practice
environmental stewardship. FondACTION is Quebec's first financial institution
to obtain OS (Organisational Stakeholder) status under the Global Reporting
Initiative (GRI), implemented by the United Nations Environment Programme
(UNEP) www.fondaction.com, www.REERvert.com.
Contact: Mme Suzanne La Ferrière, Communications, 2175 boulevard De
Maisonneuve Est, Montréal (Québec), H2K 4S3, Tel : (514) 340-5211
About FIER Innovation Durable
CorpoSana Capital is a private investment company that offers financing
and management consulting services. As the fund manager of FIER Innovation
Durable s.e.c. and FIER Croissance Durable s.e.c., it promotes the
development, growth and succession of companies by giving them access to
sources of capital that favour industrial innovation, productivity growth and
the creation of skilled jobs.
Contact: M. Jean Shoiry, 1000, rue du Haut-Bois Nord, 1er étage,
Sherbrooke (Québec), J1N 3V4, Tel : (819) 829-1469 - Fax : (819) 829-2909
For further information:
For further information: Bertrand de Petigny, Communications, Odotech
Inc., (514) 340-5250, Fax: (514) 340-5211, www.odotech.com.