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."