As part of the Impulsion conference, the International Electric and Smart Transportation Summit organized by Propulsion Québec, Finalta Capital, one of Canada's largest funds specialized in non-dilutive tax credit and government grant financing, announces $50 million in funding dedicated to the electric and smart transportation (EST) ecosystem.
An enhanced funding model tailored to the EST sector
The $50 million envelope presented by Finalta Capital meets several key criteria for the EST ecosystem:
Amount: Finalta provides financing from $500,000 to $15 million relative to the size of the innovative projects;
Funds available in advance: loan disbursements are provided ahead of the commencement of project expenditures;
Speed: the first payment is provided within 15 business days of application submission.
This specialized financing is aimed at companies from the startup to the enterprise stage. Finalta Capital brings over 10 years of lending experience disbursing more than $425 million in loans, where Finalta Capital applies its unique technological and financial expertise to understand the financing requirements and challenges facing innovative companies in the EST ecosystem.
A solution geared towards accelerating the EST ecosystem
Companies from the EST ecosystem are faced with multiple hurdles, and initiatives must be implemented immediately to reduce greenhouse gas emissions originating from ground transportation and to promote a greener Quebec economy. Since the release of its study Analysis of the financing chain for the electric and intelligent transportation sector in Quebec (December 2021), the EST industry cluster has been calling for the creation of a dedicated $100 million fund and has included this recommendation in its roadmap, Ambition TEI 2030. Propulsion Québec’s contribution is not limited to analyses and recommendations, it has also taken a concrete action to address the gap in the financing chain for the EST sector companies in Quebec. Finalta Capital's initiative provides an answer in solving a part of the gap identified as a much needed solution required to accelerate the growth of the EST ecosystem.
Thanks to its financing task force, Propulsion Québec was also able to unveil two guides at the Impulsion conference: the first one focused on raising capital and the second on investment opportunities in Quebec's EST sector. The announcement of the $50 million envelope put in place by Finalta Capital dedicated to the EST sector, is a result of Propulsion Québec's outreach initiative to accelerate the development of its ecosystem, affirming its role as a facilitator for the deployment of EST and highlights the importance of industrial clusters as collaborative organizations.
"With this announcement of $50 million dedicated to the electric and smart transportation sector, Finalta Capital is addressing the much needed requirements for financing. I commend Finalta Capital's commitment to our ecosystem and their initiative in providing an enhanced financing solution, adapted to the EST sector, so that Quebec can maintain its lead in a competitive industry on a global scale. In addition, the non-dilutive nature of this financing will allow EST companies and their founders to reap a larger share of the fruits of their labor."
"Thanks to its leadership, Propulsion Québec is fulfilling a significant objective of its mandate by addressing the gap in the financing chain for electric and smart transportation companies in Quebec in order to position them as world leaders."
About Propulsion Québec
Propulsion Québec's electric and intelligent transportation cluster mobilizes all actors in the industry in associated projects aimed at positioning Québec among the leaders in the development and implementation of ground transportation modes that promote electric and intelligent transportation. Founded in 2017, Propulsion Québec now has more than 260 members from various sectors and deploys its resources in seven distinct areas aimed at developing and supporting innovative projects. The cluster benefits from the financial support of the Government of Quebec, the Government of Canada, the Communauté métropolitaine de Montréal (CMM), ATTRIX, partner Géotab, Mouvement Desjardins, Fasken, Hydro-Québec and Québécor.
For more information and to obtain an accreditation : Claire Maynadier - Public Relations Advisor - Propulsion Québec
email@example.com | 514 581-5218
About Finalta Capital
Finalta Capital, one of Canada's largest funds specialized in non-dilutive tax credit and government grant financing, supports innovative, fast-growing companies by providing enhanced, non-dilutive financing on the basis of tax credits and grants receivable before the initiation of projects expenditures. Finalta Capital provides financing from $500,000 to $15 million relative to the size of the innovative projects. These distinctive financing terms alleviate the liquidity pressure of intense innovation and productivity initiatives by providing a permanent source of liquidity to reduce founder dilution.
For more information: Patrick Hamaoui – Vice-President, Business Financing – Finalta Capital
firstname.lastname@example.org | 514 835-7997
See the comparison basis (data and hypotheses) with other financial institutionsData and hypotheses