PORTRAIT & BUSINESS OPPORTUNITIES OF THE EST SECTOR IN QUÉBEC | A Status Report on EST and Two Guides to Support Investment in Québec

Published on 15 March 2023 Propulsion Québec Press release

Montréal, March 15, 2023 — The Funding group project of Propulsion Québec, the cluster for Electric and Smart Transportation (EST), launched today at IMPULSION, Innovation Edition, the project Portrait & business opportunities of the EST sector in Québec. In partnership with the Desjardins Group, bdc, and the CDPQ, a report on business investment opportunities as well as 2 guides dedicated to the financing of the ecosystem were unveiled.

Two Guides, New Tools for EST Funding

Both guides were launched as part of IMPULSION, Innovation Edition, during the day focused on funding.

  1. The first guide, addressed to investors, is a review of business models, valuation methods and market opportunities in the electric and intelligent transportation sector. It increases the level of knowledge and interest of the Québec and international investment community so that it can become more involved with companies in our industry. In particular, it provides access to in-depth data on hardware, software and operator models.
  2. The second one is a guide on raising capital, dedicated to entrepreneurs in the EST sector in Québec, to help them prepare to present their projects to potential investors. Fundraising has specific codes and deadlines that are key to the success of investments and therefore to the development of start-ups. This guide details the considerations to be taken into account when making an application, proposes a presentation template for investors and discusses risk management for companies.

Report: The State of EST and Business Opportunities in Québec

This comprehensive report, intended for companies, investors and institutions, details the state of the art of EST in Québec. It paints a picture of the ecosystem and its opportunities, and highlights the unique role that Québec plays on the world stage: mobility trends, Québec’s specialization, government support, etc. It highlights the sector’s five growth niches: batteries, electric vehicles, charging infrastructure, connected and autonomous vehicles and fleet management.

A Fundamental Need for Funding to Stay on the Cutting Edge of Technology

The completion of the Diagnosis of the Funding Chain in Quebec’s Electric and Smart Transportation (EST) Sector has provided a clear picture of the issues related to financing. In parallel, Propulsion Québec launched the EST Roadmap in June 2022, also call AMBITION 2030 EST to make our ecosystem a world-class leader by 2030. The linkage of these two exercises has allowed us to identify two major objectives for the ecosystem in terms of financing: to increase the financing allocated to the various growth phases of companies in the EST sector in Quebec and the attractiveness of the EST sector from the point of view of investors by promoting the emergence of a virtuous circle of growth for Quebec companies and the ecosystem. To help achieve these objectives, Propulsion Québec is making these three tools available to its members and ecosystem players.

“Québec has incredible potential for electric and intelligent transportation. We have identified niche markets with strong commercial potential, sectors under construction, clean electricity and emerging technologies. We now need investors to help members of our ecosystem commercialize their products and services and to continue to innovate so that Quebec can maintain its leadership position.”

Sarah Houde, CEO, Propulsion Québec

“Fighthing climate change is one of the greatest challenges of our time and it requires innovation and collaboration to make a meaningful impact. Quebec is home to many businesses at the forefront of the Electric and Smart Transportation (EST) sector and Propulsion Quebec is supporting this ecosystem by bringing more investors to table, and helping companies organize successful fundraising campaigns.”

Pascal Lanctot, Principal, Climate Tech Fund, BDC Capital.

“The electrification of transportation is not only essential to reduce GHGs, but also offers opportunities for innovation and responsible economic development for Quebec businesses. This partnership with Propulsion Québec allows us to offer the best support possible to our members and clients in this shift. It is also another step towards the realization of our ambitious action plan which will enable us to achieve, by 2040, a net zero emissions balance on our extended operations and on the financing and investment activities of our own funds in three key carbon-intensive sectors: energy, transportation and real estate. In this regard, it is worth noting that more than 375 charging stations for electric vehicles have been installed in the parking lots of Desjardins caisses and corporate buildings across Québec and Ontario.”

Mathieu Talbot, Vice-President, Business Service Group and Corporate Banking, Desjardins Group

This project was made possible thanks to the financial support of the following partners: Gouvernement du Québec, BDC, CDPQ, DesjardinsFondaction, Fonds climat du grand Montréal, Mackinnon, Bennett & Co. (MKB) et Diagram Ventures.

For more information and accreditation:

Claire Maynadier

Director, Communications and Public Relations

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