Concordia University Foundation and global investment firm Ventures sign $1.2M next-gen partnership to strengthen cleantech sector —
Summary
Montreal, April 16, 2019 The Concordia University Foundation (CUF) and Inerjys Ventures (Inerjys) are thrilled to announce their new partnership, working in tandem to invest in clean technologies and further solidifying their commitment towards the new energy transformation.The agreement will see Inerjys invest, through limited partnerships, $1.2 million from CUFS long-term pool in three of Inerjys portfolio companies: AESP Green Energy, which builds scalable off-grid solar solutions; StillGood Foods, whose sustainable snacks combat food waste and local food insecurity; and Goliath Wind, whose modular rotor turbines challenge conventional wind-industry economics, both in manufacturing and operations. AESP and StillGood Foods are both Quebec-based companies; Goliath Wind will be incorporated in Canada as part of Inerjys commercialization strategy.The partnership follows CUFs signing on to the United Nations Principles for Responsible Investment (UNPRI) in 2018. This agreement demonstrates Concordias commitment to creating a sustainable future for Canadians, setting an example we hope other institutions will follow.Having an institution as respected as Concordia University join our LP base is a great boost not just for our portfolio companies, but for the cleantech sector more broadly, said Stephan Ouaknine, CEO of Inerjys. CUFs financial commitment will help us continue to source best-in-class clean technologies for our portfolio and clearly demonstrates that Concordia shares our goal of mitigating the impacts of climate change. Having access to Concordias socially engaged academic and alumni networks makes this partnership an even greater win-win.For his part, Howard Davidson, Chair of the Concordia University Foundation, added: Signing on to the UNPRI and incorporating an Impact Investments Policy in 2018 means the CUF aims to generate social and environmental impact alongside a financial return.