Caisse de dépôt et placement du Québec, together with Investissement Québec, has invested $12.8 million in AddÉnergie, a Québec manufacturer of smart charging solutions for electric vehicles.
As part of the transaction, Caisse will invest $8.5 million, and Investissement Québec will invest $4.3 million, enabling AddÉnergie to extend its network and technology across Canada.
“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.
AddÉnergie 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 it 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.
“Our investment aims to further the development of leading-edge Québec expertise in a sector vital to our future,” said Pierre Gabriel Côté, president and chief executive officer of Investissement Québec.
“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.”