Seed Fund Cycle-C3E, the Cycle family’s second venture capital fund in the clean technologies field, and Desjardins-Innovatech recently completed the strategic partnership to grow the company by closing a $3 million round of funding.
This funding will enable Airex to build and operate a new demonstration plant that will become the commercial showcase for the CarbonFX biocoal technology. “We are very proud to be able to rely on support from an experienced team like Cycle Capital Management. We can benefit from Cycle’s vast business network and its industrial partners to accelerate the roll-out of our technology worldwide," declared Sylvain Bertrand, CEO of Airex Energy.
“Airex Energy provides efficient cutting-edge torrefaction technology that meets market requirements while using residual biomass,” notes Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital Management (CCM). “For Cycle Capital, biocoal is a long awaited product that will allow Airex to positioned itself as a major player on several foreign market.”