Montreal, February 1, 2021 — Propulsion Québec, the electric and intelligent transportation (TEI) cluster, is pleased to announce the renewal of its partnership agreement with the Fonds de solidarité FTQ, the development capital company that draws on the savings of Quebecers, as a Major Partner for 2021.
This partnership is consistent with the cluster’s sustainable development mandate and aligns with its ongoing role as a lever for economic development in Quebec. Renewable on an annual basis, this agreement will enable the Fonds to promote the energy transition by supporting Quebec initiatives for transport electrification and intelligent mobility solutions, which are essential to reducing greenhouse gas emissions and combating climate change.
For many years, the Fonds has contributed to Quebec’s economic growth through investments in companies across all sectors of the Quebec economy, while prioritizing support for the development of innovative companies operating in value-added services, notably the electric and intelligent transportation industry. Through its governance and codes of ethics, it acts as a socially responsible investor committed to human and sustainable economic development. A member of Propulsion Québec since February 2019, the Fonds also holds a seat on the cluster’s board of directors, in addition to being a strategic partner for the execution of several projects, including a study on the electrification of vehicle fleets in Quebec and the International Fleet Management Forum IMPULSION MTL 2020.
This partnership makes the Fonds de solidarité FTQ a key contributor to all of the cluster’s activities and to projects within the TEI ecosystem. Today, by enhancing its status as a partner of Propulsion Québec, the Fonds reiterates its support and commitment to the TEI ecosystem and strengthens its contribution to the electrification of Quebec’s economy.
Quotes
“For the second year in a row, the Fonds de solidarité FTQ and Propulsion Québec are jointly mobilizing Quebec companies in the electric and intelligent transportation ecosystem. The cluster is delighted to see this early partner increase its support to back new innovative projects in mobility and transport electrification. It is the involvement of major economic players, like the Fonds de solidarité FTQ, that allows our Quebec companies to shine and position themselves as global leaders in electric and intelligent transportation,” said Sarah Houde, President and CEO of Propulsion Québec.
“Transport electrification is well underway and is expected to accelerate over the coming years. Quebec must take its place, both to contribute to the fight against climate change and to build a stronger economy. That is why we are proud to partner again with Propulsion Québec and its partners to support the development of the electric and intelligent transportation sector in Quebec. For the Fonds de solidarité FTQ, that is what investing for a better society means!” concluded Christian G. Brosseau, Vice-President, Investments, Structuring Capital, Energy and Environment of the Fonds.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests in a better society thanks to the savings of its more than 700,000 shareholders. Through its development capital and venture capital investments, the Fonds seeks in particular to contribute to the transition to a greener economy, a work world centered on people, and a healthier society. It offers companies unsecured financing and strategic support. With net assets of $15.6 billion as of November 30, 2020, the Fonds supported more than 3,300 partner companies and over 220,000 jobs. For more information, visit fondsftq.com.
About Propulsion Québec
Quebec’s electric and intelligent transportation cluster brings together all stakeholders in the sector around joint projects aimed at positioning Quebec among the leaders in the development and deployment of land transportation modes that promote electric and intelligent transportation. Created in 2017, Propulsion Québec now has nearly 210 members from various sectors and deploys its resources across six distinct workstreams aimed at developing and supporting innovative projects. The cluster benefits from the financial support of the Government of Quebec, the Government of Canada, the Montreal Metropolitan Community (CMM), ATTRIX, the Fonds de solidarité FTQ, Hydro-Québec and Québecor.
Contact:
Patrick McQuilken
Senior Press Relations Advisor
Fonds de solidarité FTQ
pmcquilken@fondsftq.com | 514 703-5587
