Caisse investing further in electric vehicle charging network
The Caisse de dépôt et placement du Québec is part of a $53-million round of Series C funding for AddEnergie Technologies Inc., a Quebec-based operator of electric vehicle charging stations.
The Caisse initially invested in the company in 2016 and again in 2019, alongside partners. This round of funding included MacKinnon, Bennett & Co. Inc., Business Development Bank of Canada, Fonds de solidarité FTQ, Export Development Canada and Investissement Québec.
Read: Caisse invests in AddÉnergie’s expansion
“CDPQ has played a part in AddEnergie’s development since 2016, driven by the desire to support the company’s growth and expansion,” said Kim Thomassin, executive vice-president and head of investments in Quebec and stewardship investing at the Caisse, in the release. “We were there as they penetrated the Canadian and U.S. markets and we are proud to reaffirm our commitment to AddEnergie as it pursues its expansion plan.
“This investment aligns with our strategic priorities — not only does it support a Quebec company’s international expansion, it allows us to increase our holdings in low-carbon assets, which is a benefit to everyone.”
Read: Caisse boosts investment in electric vehicle charging company