Airex Energy, a Montreal, Canada-based firm that develops and delivers decarbonization options, raised $38M in funding.
The spherical was led by Cycle Capital, with participation from Investissement Québec, Desjardins-Innovatech, and Export, Growth Canada (EDC).
The corporate intends to make use of the funds to increase its progress initiatives, together with a Quebec biochar challenge tying in with its partnership with Suez, which goals to spice up biochar manufacturing in Europe and North America by 2035.
Led by CEO Michel Gagnon, Airex Power develops and delivers decarbonization options having the capability to considerably scale back GHG emissions. CarbonFX, its proprietary expertise, transforms biomass into environmentally pleasant merchandise similar to biochar, biocoal and biocarbon. Since 2016, the corporate has operated the primary industrial manufacturing facility in Canada specializing in biocoal. Airex Power now exports its merchandise all over the world, specifically to the US, Europe and Asia.
Because of this funding spherical, the corporate shall be fast-tracking its progress initiatives, together with a Quebec biochar challenge tying in with its partnership with Suez, which goals to spice up biochar manufacturing in Europe and North America by 2035. Different initiatives embody the conclusion of agreements in Quebec’s biocarbon and Asia’s biocoal sector, in addition to steady enhancements within the underlying expertise.
FinSMEs
15/03/2023
