FLO | AddÉnergie: investing in sustainable transport
FLO | AddÉnergie, a company specializing in electric vehicle charging stations, is a manufacturer, network manager and software developer all in one. The three areas of expertise give it a huge advantage in the promising North American electrification market, and the Fonds is proud to be financing its efforts.
As an institution with the goal of investing for maximum impact, for years now the Fonds has made transport one of its strategic priorities. So it’s only natural for it to be immersed in the push for transport electrification in Quebec. In addition to being a major partner in the Propulsion Québec industry cluster, the Fonds has joined other institutions to support FLO | AddÉnergie financially, becoming a catalyst for growth. It’s a partnership with a lot of upside potential.
As a charging station manufacturer, operator of the FLO network, and network software developer, FLO | AddÉnergie employs about 275 people, mainly in its Quebec City head office, Montreal offices and Shawinigan assembly plant. All management software development and station design is done in-house, and components are manufactured by specialized suppliers, 80% of which are located in Quebec. The company also provides services to third-party networks operated by Hydro-Québec (Circuit Électrique) and BC Hydro.
The Fonds sees the company as a partner of choice in its energy and environment portfolio and foresees a close working relationship going forward.
“FLO | AddÉnergie has the advantage of being led by a powerhouse team, and it’s one of the few companies in the sector that have adopted a truly vertical integrated business model,” says Colette Roy, Fonds de solidarité FTQ investment manager in the structured capital, environment and energy sector. “That places it in an excellent position to become Quebec’s flagship company in the North American EV recharging market.”
Uncontested leader in EV charging stations, the company already has 50% of the Canadian market and has been expanding into the United States for a number of years. In short, it’s the perfect partner for anyone looking to advance EV adoption in a market.
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